{"id":85240,"date":"2023-01-23T18:30:00","date_gmt":"2023-01-23T13:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=85240"},"modified":"2023-01-23T18:25:32","modified_gmt":"2023-01-23T12:55:32","slug":"biz-seb-paymate-india-ipo","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-seb-paymate-india-ipo\/","title":{"rendered":"Sebi asks PayMate India to refile IPO papers with certain updates"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1387478019\"><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>Sebi has asked B2B payments and services provider PayMate India to refile the documents for the initial public offering with certain updates.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-827400619\"><!-- 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><p>PayMate India had filed the Draft Red Herring Prospectus (DRHP) for a Rs 1,500 crore-IPO with the Securities and Exchange Board of India (Sebi) in May 2022.<\/p><p>The proposed Initial Public Offering (IPO) comprises fresh issue of equity shares worth Rs 1,125 crore and an Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders, according to the draft papers.<\/p><p>The company&#8217;s promoters &#8212; Ajay Adiseshan and Vishvanathan Subramanian and investors &#8212; as well as Lightbox Ventures I, Mayfield FVCI Ltd, RSP India Fund LLC and IPO Wealth Holdings are to sell shares through the OFS. Besides, certain existing shareholders are offering to offload shares through this route.<\/p><div class=\"trade-content_5\" id=\"trade-1178510674\"><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><p>Currently, promoter and promoter group hold 66.70 per cent stake in the company and the rest is with public shareholders.<\/p><p>According to an update on Sebi&#8217;s website on Monday, the regulator returned the company&#8217;s DRHP on January 17, 2023 with an advise to refile it post applicable updates\/revisions.<\/p><p>However, specific details were not disclosed.<\/p><p>PayMate is a multi-payment category platform that incorporates vendor payments, statutory payments, and utility payments, giving its customers a fully-integrated B2B payment stack.<\/p><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><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><div class=\"trade-content-10\" id=\"trade-2776657695\"><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><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><p>Earlier this month, Sebi returned the draft IPO papers of home-grown mobile maker Lava International and Oravel Stays Ltd, the parent company of travel-tech firm OYO, and asked them to refile the documents with certain updates. PTI SP RAM<\/p><div class=\"trade-after-content\" id=\"trade-2565479216\"><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>Sebi has asked B2B payments and services provider PayMate India to refile the documents for the initial public offering with certain updates. PayMate India had filed the Draft Red Herring Prospectus (DRHP) for a Rs 1,500 crore-IPO with the Securities and Exchange Board of India (Sebi) in May 2022. The proposed Initial Public Offering (IPO) [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24720,"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":[1696,31],"tags":[],"class_list":["post-85240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-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>Sebi asks PayMate India to refile IPO papers with certain updates - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Sebi has asked B2B payments and services provider PayMate India to refile the documents for the initial public offering with certain updates.\" \/>\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-seb-paymate-india-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sebi asks PayMate India to refile IPO papers with certain updates\" \/>\n<meta property=\"og:description\" content=\"Sebi has asked B2B payments and services provider PayMate India to refile the documents for the initial public offering with certain updates.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/biz-seb-paymate-india-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-23T13:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/SEBI-2-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/SEBI-2-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/biz-seb-paymate-india-ipo\/\",\"url\":\"https:\/\/tradebrains.in\/features\/biz-seb-paymate-india-ipo\/\",\"name\":\"Sebi asks PayMate India to refile IPO papers with certain updates - 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