NoPaperForms files updated draft papers for IPO; eyes ₹375 cr via fresh issue
Along with the fresh issue, there will be an OFS (offer for sale) comprising 3.84 crore equity shares by investor shareholder Startup Investments (Holding) Ltd
Education tech company NoPaperForms Solutions Ltd has updated its draft papers for an upcoming IPO, with the aim of raising up to ₹375 crore through a fresh share issue. Alongside the new share issuance, there will also be an offer for sale (OFS) of 3.84 crore equity shares by investor Startup Investments (Holding) Ltd. The funds from the IPO will be allocated towards customer acquisition and retention, technology development, cloud infrastructure, general corporate purposes, and inorganic growth via unidentified acquisitions.
NoPaperForms currently operates in the education sector, offering AI-powered SaaS, embedded payments, and Agentic AI products to help educational institutions streamline operations, improve conversions, and optimise marketing expenditure. The Gurugram-based firm has seen significant growth in student enquiries, personalised communications, and fee collections since fiscal 2024, with respective CAGRs of 29%, 19%, and 43.67%.
The IPO filings were initially submitted to SEBI in November and received approval in March. The lead managers for the issue are IIFL Capital Services and SBI Capital Markets, while MUFG Intime India serves as the registrar.
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