Paramotor Digital Technology filed its updated draft red herring prospectus (UDRHP-I) with SEBI on 14 October 2026 for a ₹1,000 crore IPO. The Mumbai fintech, which runs the yayyy.shop gifting platform, has a fresh issue of ₹698 crore and a promoter sale of up to ₹302 crore.
Why is it an updated draft?
Paramotor used the confidential pre-filing route. It filed its papers privately in May 2026 and SEBI approved them in August 2026, as per Moneycontrol. The UDRHP is the public version of that draft. It is now open for public comment, and the company can launch the IPO after it files the final RHP.
How is the ₹1,000 crore split?
| Part | Amount |
|---|---|
| Fresh issue | ₹698 crore |
| Offer for sale | Up to ₹302 crore |
| Possible pre-IPO placement | Up to ₹139.6 crore |
Promoters Sonia Pankaj Asher and Rahul Anand are the sellers in the offer for sale. A pre-IPO placement, if the company does one, comes out of the fresh issue and shrinks it by the same amount.
What will the fresh money be used for?
The company plans to spend ₹355 crore on customer acquisition, retention, brand promotion and business development. Another ₹94 crore goes to technology, cloud services and IT assets, and ₹38 crore to office infrastructure. The rest is for general corporate purposes.
What does the company do, and how big is it?
Paramotor sells digital gifting through yayyy.shop, spend management through SpendPro, and rewards and loyalty tools through RewardOn. Its DevStack arm builds technology platforms for businesses. It is also a programme manager, business correspondent and distribution agent for non-reloadable prepaid payment instruments.
For the year to March 2026, it reported a consolidated profit of ₹59.1 crore on revenue of ₹603.1 crore. For the June 2026 quarter, profit was ₹23.8 crore on revenue of ₹252.7 crore. Motilal Oswal Investment Advisors and Equirus Capital are the lead managers.
What our data shows
At about ₹1,000 crore, this is the 22nd largest of the 40 IPO filings and plans we have tracked this year. Our tracker shows 65 companies have filed draft papers so far this month, part of the filing rush we described in our October pipeline check.
What happens next
No price band, issue dates or lot size have been announced. The price details appear only in the RHP. You can follow the company with other filers on our upcoming mainboard IPO page. The offer document is on the SEBI filing page.
