Meritto Parent NoPaperForms Files Updated DRHP For ₹375 Cr+ IPO
SaaS startup Meritto’s parent NoPaperForms has filed its updated draft red herring prospectus (UDRHP) with Securities and Exchange Board of…
SaaS company NoPaperForms, the parent entity of startup Meritto, has submitted an updated draft prospectus for its upcoming initial public offering (IPO). The draft prospectus details a fresh share issue valued at ₹375 crore and an offer for sale of up to 3.8 crore equity shares. Only investor Info Edge will take part in the offer for sale.
The venture capital firm Startup Investments (Holding) Ltd, represented by Meritto's parent, will sell 3.8 crore shares. Approximately ₹148 crore from the fresh capital will be used to enhance its technology infrastructure and cloud services. Another ₹96 crore will be directed towards customer acquisition and retention, as well as general corporate expenses and acquisitions.
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