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• The company is gaining market attention due to its technology-based and asset-light model.
• In a significant step, DRHP has been submitted to SEBI in a confidential manner.
• The company operates in enterprise technology services.

Paramotor Digital Technology Limited, operating in the fintech and enterprise technology space, has taken a significant step towards a possible IPO. The company has confidentially submitted its Draft Red Herring Prospectus (DRHP) under the pre-filing process with the Securities and Exchange Board of India (SEBI). The company has released this information through a public notice.

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Founded in 2016, Paramotor Digital Technology Limited has established a strong footprint in the FinTech and Digital Solutions sector within a short span of time. The company operates in various segments such as consumer spend management, rewards and loyalty programs, digital gifting and enterprise technology services. The company has expanded rapidly under the leadership of Executive Chairman Sonia Asher and Managing Director Rahul Anand. His experience in Banking, Payments and Information Technology is considered important to the company.

The company’s portfolio includes digital platforms such as SpendPro, RewardOn, yayyy.shop and DevStack. SpendPro is a prepaid card based spend management platform, RewardOn provides rewards and loyalty management services for enterprises. Yayyy.shop provides gift cards and prepaid cards of various brands to the customers through this platform. Whereas DevStack operates as an enterprise technology and software development services division.

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According to market analysts, the company’s asset-light and technology-based approach is its major strength. With the rise in consumer spending, digital payments, gifting and digitization of business processes, Paramotor Digital Technology Limited is considered to be consolidating its position in the market at the right time. Given the growing investor interest, especially in scalable tech-based businesses, the company could emerge as an emerging contender in the public market, say experts.