{"id":45775,"date":"2022-05-30T13:18:00","date_gmt":"2022-05-30T07:48:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=45775"},"modified":"2022-05-30T13:15:55","modified_gmt":"2022-05-30T07:45:55","slug":"biz-ipo-paymate-india","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ipo-paymate-india\/","title":{"rendered":"PayMate India files IPO papers with Sebi to raise Rs 1,500 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3940931663\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO).<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-785750203\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The initial share-sale comprises fresh issue of equity shares worth Rs 1,125 crore and Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders, according to the draft red herring prospectus (DRHP).<\/p>\n<p>Those selling shares in the OFS include promoters &#8212; Ajay Adiseshan and Vishvanathan Subramanian and investors &#8212; Lightbox Ventures I, Mayfield FVCI Ltd, RSP India Fund LLC and IPO Wealth Holdings, besides, certain existing shareholders are too offering shares through this route.<\/p>\n<p>The offer also includes a reservation for subscription by eligible employees.<\/p><div class=\"trade-content_5\" id=\"trade-2099323710\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Currently, promoter and promoter group holds 66.70 per cent stake in the company and public shareholders own the remaining stake.<\/p>\n<p>Additionally, the company may consider a private placement of equity shares aggregating up to Rs 225 crore. If such placement is completed, the fresh issue size will be reduced.<\/p>\n<p>Proceeds from its fresh issuance worth Rs 77 crore will be utilised for investment for expanding business into new geographies, Rs 228 crore for pursuing inorganic initiatives, Rs 688.70 crore for placing cash as collateral with its financial institution partners to improve its margins and general corporate purposes.<\/p>\n<p>PayMate has developed from a consumer-facing to a Business-to-business (B2B) payments platform since its inception in 2006.<\/p>\n<p>It is a multi-payment category platform that incorporates vendor payments, statutory payments, and utility payments, giving its customers a &#8220;fully-integrated&#8221; B2B payment stack.<\/p>\n<p>The platform also allows consumers and their vendors, suppliers, buyers, dealers, and distributors to use commercial credit cards to make statutory payments of direct taxes and GST, as well as utility payments.<\/p><div class=\"trade-content-10\" id=\"trade-1684538157\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Visa has a partnership with PayMate. It is also a shareholder in PayMate, owning 2.94 per cent of the fully diluted paid-up equity share capital.<\/p>\n<p>PayMate&#8217;s revenue from operations increased 61.19 percent from Rs 216.14 crore in Fiscal 2020 to Rs 348.40 crore in Fiscal 2021. Revenue for the nine-month period ended December 2021 stood at Rs 843.44 crore.<\/p>\n<p>ICICI Securities, HSBC Securities and Capital Markets (India) Private Limited, JM Financial and SBI Capital Markets are the book running lead managers to the issue.<\/p>\n<p>The equity shares are proposed to be listed on BSE and NSE. PTI SP DRR<\/p>\n<div class=\"trade-after-content\" id=\"trade-2447373745\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO). The initial share-sale comprises fresh issue of equity shares worth Rs 1,125 crore and Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders, according [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":45779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1516,31,1789],"tags":[],"class_list":["post-45775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PayMate India files IPO papers with Sebi to raise Rs 1,500 cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ipo-paymate-india\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PayMate India files IPO papers with Sebi to raise Rs 1,500 cr\" \/>\n<meta property=\"og:description\" content=\"Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO). 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