# Paramotor Digital Technology Limited: IPO analysis > Paramotor Digital Technology Limited (CIN U74999MH2016PLC287408) has filed a Updated Draft Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of ₹698 Cr and an offer for sale of ₹302 Cr. In FY26 it reported revenue of ₹603 Cr (+438.2% on FY25) and a net profit of ₹59 Cr. Promoters hold 98.9% before the IPO. Our fact-check of its claims found 3 medium or high concerns across 39 claims checked. - Page: https://ipo.innerkore.com/company/U74999MH2016PLC287408/paramotor-digital-technology-limited/ - CIN: U74999MH2016PLC287408 - Last updated: 14 Oct 2026 ## Key facts - **Company:** Paramotor Digital Technology Limited - **CIN:** U74999MH2016PLC287408 - **Filing stage:** UDRHP - **Latest SEBI filing:** 14 Oct 2026 - **Fresh issue:** ₹698 Cr - **Offer for sale:** ₹302 Cr - **Listing on:** BSE, NSE - **Revenue FY26:** ₹603 Cr - **Revenue growth:** +438.2% - **Net profit FY26:** ₹59 Cr - **Revenue CAGR FY24 to FY26:** 327.0% - **Promoter holding (pre-IPO):** 98.9% - **Lead managers:** Motilal Oswal Investment Advisors Limited, Equirus Capital Limited - **Registrar:** MUFG Intime India Private Limited - **Fact-check flags:** 0 high, 3 medium, 3 low ## Key signals (read from the filing; not investment advice) - **Growth** (looks fine): 327% a year. Sales FY24 to FY26; latest year +438.2%. - **Profitability** (look closer): 9.8% net margin. FY26; operating margin slipping. - **Debt** (looks fine): No borrowings. Nothing borrowed at the end of FY26. - **Profit into cash** (look closer): 47% of profit. Operations brought in ₹27.9 crore against ₹59.1 crore of profit in FY26. - **One-off income** (look closer): 1% of profit. Other and one-off income is 1% of pre-tax profit; management describes 7 one-off items. - **Where the money goes** (looks fine): 30% for sale. 70% is new shares issued by the company. - **Red flags** (look closer): 3 to review. 39 claims checked: 0 high, 3 medium concern. ## Financial snapshot (₹ crore unless stated; standalone) | | FY24 | FY25 | 3M Jun-25 | FY26 | 3M Jun-26 | |---|---:|---:|---:|---:|---:| | Sales | 33 | 112 | 21 | 603 | 253 | | Sales growth | – | 238.8% | – | 438.2% | – | | Operating profit | 7.1 | 35 | 12 | 78 | 33 | | Operating margin | 21.4% | 31.5% | 59.0% | 13.0% | 12.9% | | Net profit | 4.9 | 25 | 9.2 | 59 | 24 | | Net margin | 14.9% | 21.9% | 44.1% | 9.8% | 9.4% | | Net worth | 9.9 | 35 | 44 | 94 | 117 | | Borrowings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Return on equity | 49.8% | 71.0% | – | 63.1% | – | ## Non-recurring items (as described by management) - The Group has discontinued the MDR / POS Commission Income business and reclassified it as “Discontinued Operations” for the presented years/periods. (p.342) - Miscellaneous income, including recoveries, penalties, and other incidental, ancillary or non-recurring items, is recognised on an accrual basis when the right to receive the income is established and is included under ‘Other Income – Miscellaneous Income’ in the Statement of Profit and Loss. (p.343) - The business previously had a business of acquiring bank partners for the provision of point of sale terminals for card acceptance, which business was discontinued in Fiscal 2025. (p.350) - Profit from discontinued operation before taxes decreased by ₹14.20 Lakh to ₹(0.17) million for Fiscal 2026 from ₹12.50 Lakh for Fiscal 2025, due to a strategic decision to de-focus on the business of deploying POS terminals for card acceptance which was discontinued in Fiscal 2025. (p.355) - Tax expenses of discontinued operation decreased to ₹0.40 Lakh for Fiscal 2026 from ₹3.20 Lakh for Fiscal 2025, due to the decrease in profit from discontinued operation before taxes. (p.355) - The increase in other current assets from ₹17.87 Crore as at March 31, 2026 to ₹112.81 Crore as at June 30, 2026 was primarily due to balance towards Prepaid Payment Instruments, representing advances paid towards procurement of PPIs for which issuance is pending, increasing from ₹17.04 Crore as at March 31, 2026 to ₹66.03 Crore, and other advances, pertaining to the settlement pending from payment service providers, increasing from nil as at March 31, 2026 to ₹46.16 Crore. (p.358) - The decrease in total outstanding dues other than Micro Enterprises and Small Enterprises to ₹1.73 Crore as at March 31, 2026 from ₹6.19 Crore as at March 31, 2025 was primarily due to timely settlement of vendor invoices. (p.359) ## Use of proceeds (fresh issue) - Expenditure towards customer acquisition, retention and brand and business promotion initiatives: ₹355 crore - Investment in technology development initiatives, cloud infrastructure services and IT assets: ₹94 crore - Investment in office infrastructure: ₹38 crore - General corporate purposes(2)(3): amount not fixed yet ## Fact-checked claims - **MEDIUM** (SubsidiaryPerformance): The Company entered into a co-brand agreement with Mastercard Asia Pacific Pte. Limited. in March 2026 for Prepaid Cards.. The search results mention a block deal where Mastercard Asia/Pacific Pte. Ltd. held a stake in Pine Labs as of June 2026, which is related to a potential divestment of equity. This is different from the claim about a co-brand agreement entered into in March 2026. - **MEDIUM** (LitigationStatus): A due diligence certificate was issued to SEBI by the BRLMs on May 15, 2026.. The search results indicate that Paramotor Digital Technology filed confidential IPO papers with SEBI around May 2026 and subsequently secured SEBI's nod for an IPO around August 2026. This contradicts the claim that a due diligence certificate was issued on May 15, 2026, as the search results focus on the filing and approval process, not the issuance of a due diligence certificate. - **MEDIUM** (LitigationStatus): There are no disciplinary actions including penalties imposed by SEBI or stock exchanges against the Promoters in the last five financial years immediately preceding the filing date.. One search result refers to a Notice of Demand under a Recovery Certificate, which is a potential disciplinary action. Other results confirm the company's status and recent Sebi approval for an IPO, but do not explicitly confirm or deny disciplinary actions by SEBI or stock exchanges against the promoters in the last five financial years. - **LOW** (SubsidiaryPerformance): The company has one subsidiary, Paramotor Giftbrandz Private Limited, as of the date of this Updated Draft Red Herring Prospectus.. The search results indicate the existence of entities like Paramotor Giftbrandz Private Limited in connection with the company, as shown in profiles for various entities. Specifically, results [2], [3], and [4] list Paramotor Giftbrandz Private Limited alongside other entities, suggesting its presence or association with the company. - **LOW** (LitigationStatus): A Director confirmed compliance with provisions of the Companies Act, 2013, and SEBI guidelines.. The search results indicate that Paramotor Digital Technology has been involved in filing confidential IPO papers with SEBI and subsequently securing SEBI's nod for an IPO. This suggests regulatory engagement, which is related to compliance with SEBI guidelines, but the search results do not explicitly confirm a director's personal confirmation of compliance. - **LOW** (LitigationStatus): The Chief Financial Officer confirmed compliance with provisions of the Companies Act, 2013, and SEBI guidelines.. The search results confirm that Paramotor Digital Technology Limited has been involved in processes with SEBI, including filing confidential IPO papers and receiving SEBI nod for an IPO. However, the results do not explicitly confirm the CFO's statement regarding compliance with the Companies Act, 2013, and SEBI guidelines. - **NONE** (PromoterBackground): The Promoter Group includes individuals such as Sonia Pankaj Asher, Rahul Anand, and several relatives and entities.. The provided search results do not contain information that directly corroborates or contradicts the claim regarding the Promoter Group of Paramotor Digital Technology Limited. The search results primarily relate to news and developments concerning the company's partnerships and general current affairs. - **NONE** (PromoterBackground): A leave and license agreement was entered into with Sonia Pankaj Asher for the Registered Office of the Company, and the Subsidiary was allowed to use the premises for nil consideration.. The provided search results do not contain any information regarding a leave and license agreement entered into with Sonia Pankaj Asher for the Registered Office of Paramotor Digital Technology Limited or any related facts about the subsidiary using premises for nil consideration. - **NONE** (PromoterBackground): A leave and license agreement was entered into with Rahul Anand and a member of the Promoter Group, Jyoti Anand, for office premises.. The provided search results do not contain any information corroborating or contradicting the claim regarding a leave and license agreement between Paramotor Digital Technology Limited and Rahul Anand and Jyoti Anand for office premises. - **NONE** (PromoterBackground): Rahul Anand is one of the Promoters and the Managing Director of the Company.. The provided search results do not contain any information that corroborates or contradicts the claim that Rahul Anand is one of the Promoters and Managing Director of Paramotor Digital Technology Limited. The results primarily relate to company listings, partnerships, and general news topics. - **NONE** (PromoterBackground): Sonia Pankaj Asher is one of the Promoters and the Executive Chairperson and Whole-time Director of the Company.. The provided search results do not contain any information that corroborates or contradicts the claim regarding Sonia Pankaj Asher being a Promoter, Executive Chairperson, and Whole-time Director of Paramotor Digital Technology Limited. The search results primarily relate to news and updates concerning the company's partnerships and regulatory context. - **NONE** (PromoterBackground): The aggregate shareholding of the Promoters constitutes 98.94% of the pre-Offer issued, subscribed and paid-up Equity Share capital of the Company.. The provided search results do not contain any information regarding the aggregate shareholding of the Promoters in Paramotor Digital Technology Limited. Therefore, the search results do not corroborate, contradict, or update the claim. ## Common questions ### How big is the Paramotor Digital Technology Limited IPO? Paramotor Digital Technology Limited's IPO comprises a fresh issue of ₹698 Cr and an offer for sale of ₹302 Cr, according to its Updated Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Paramotor Digital Technology Limited's revenue and profit? Paramotor Digital Technology Limited reported revenue from operations of ₹603 Cr in FY26, +438.2% versus FY25. Net profit was ₹59 Cr (FY25: ₹25 Cr). Revenue grew at a compound rate of 327.0% a year from FY24 to FY26. Figures are read from the UDRHP, as printed there. ### How much do promoters own in Paramotor Digital Technology Limited? Promoters hold 98.9% of Paramotor Digital Technology Limited before the IPO. Largest holders listed: 10 38,820,384 - - (100.0%); 84 100.00% - 38,820, (100.0%); 5 38,764,000 - - (99.9%). ### How will Paramotor Digital Technology Limited use the IPO money? The fresh-issue proceeds are earmarked for: Expenditure towards customer acquisition, retention and brand and business promotion initiatives (₹355 Cr); Investment in technology development initiatives, cloud infrastructure services and IT assets (₹94 Cr); Investment in office infrastructure (₹38 Cr); General corporate purposes (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Paramotor Digital Technology Limited's UDRHP? We fact-checked 39 claims from the filing against the open web: 0 raised a high concern, 3 medium and 3 low. The most notable: The search results mention a block deal where Mastercard Asia/Pacific Pte. Ltd. held a stake in Pine Labs as of June 2026, which is related to a potential… The search results indicate that Paramotor Digital Technology filed confidential IPO papers with SEBI around May 2026 and subsequently secured SEBI's nod for… One search result refers to a Notice of Demand under a Recovery Certificate, which is a potential disciplinary action. Other results confirm the company's… This is an automated screen, not a verdict; each finding links to its sources. ### What does Paramotor Digital Technology Limited do? Here's what almost nobody notices: while PARAMOTOR DIGITAL TECHNOLOGY has secured its IPO approval, there's a record of a Notice of Demand under a Recovery Certificate against them, which raises a serious flag about their recent history. ### Who manages the Paramotor Digital Technology Limited IPO? Book running lead managers: Motilal Oswal Investment Advisors Limited, Equirus Capital Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Paramotor Digital Technology Limited IPO documents? All 1 filing for Paramotor Digital Technology Limited (UDRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Paramotor Digital Technology Limited – UDRHP-I](https://www.sebi.gov.in/sebi_data/attachdocs/oct-2026/1791979527596.pdf) (Updated Draft Red Herring Prospectus, filed 14 Oct 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.