Fintech firm Paramotor Digital gets Sebi nod for IPO

Paramotor Digital Technology Ltd, a fintech company, has received approval from the Securities and Exchange Board of India (Sebi) to proceed with its initial public offering (IPO).

The company had filed its draft papers with Sebi under the confidential pre-filing route on May 17, 2026. Details of the proposed issue, including its size and structure, are subject to the disclosures in the offer documents.

Founded in 2016, Paramotor Digital Technology operates across consumer spend management, rewards and loyalty solutions, digital gifting and enterprise technology services.

The company is led by Executive Chairperson Sonia Asher and Managing Director Rahul Anand. Their professional experience includes banking, payments and information technology.

Paramotor Digital's portfolio includes SpendPro, a prepaid card-based spend management platform; RewardOn, an enterprise rewards and loyalty management solution; yayyy.shop, a direct-to-consumer digital gifting marketplace; and DevStack, its enterprise technology and software development services business.

SpendPro is focused on prepaid card-based spend management, while RewardOn enables enterprises to design, manage and distribute digital rewards programmes. The platform caters to use cases including employee engagement, customer loyalty and channel incentives.

Its yayyy.shop platform provides access to prepaid cards and branded gift cards across multiple categories for consumers, while DevStack provides software development and enterprise technology services.

The company's operations span both consumer and enterprise segments, with its platforms addressing digital spending, gifting, rewards and technology requirements.

The IPO approval comes as Paramotor Digital prepares to enter the public markets. The company had opted for Sebi's confidential pre-filing mechanism, under which issuers can submit draft offer documents to the regulator without making them publicly available at the initial stage.

Further details on the proposed IPO will be available through the company's subsequent public offer documents and regulatory disclosures.