SEBI asks PayMate India to refile DRHP

January 25, 2023

, By Team SNFYI

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Mumbai-based fintech unicorn PayMate India has been asked by stock exchange regulator SEBI to resubmit its draft red herring prospectus (DRHP) with updated information. On January 17th, 2023, the regulatory body initially returned the DRHP.

In May 2022, PayMate submitted a DRHP to the regulatory body for an INR 1500 IPO. According to a PTI report, its IPO includes a fresh issuance of equity shares valued at INR 1,125 Cr and an OFS of INR 375 Cr by promoters, investors, and other stakeholders. The change occurs shortly after SEBI requested that OYO, a chain of hotels, share an updated DRHP along with the financial statements for the September quarter of FY23. OYO’s IPO is expected to be postponed by three months as a result.

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SEBI asks PayMate India to refile DRHP

January 25, 2023

, By Team SNFYI

Mumbai-based fintech unicorn PayMate India has been asked by stock exchange regulator SEBI to resubmit its draft red herring prospectus (DRHP) with updated information. On January 17th, 2023, the regulatory body initially returned the DRHP.

In May 2022, PayMate submitted a DRHP to the regulatory body for an INR 1500 IPO. According to a PTI report, its IPO includes a fresh issuance of equity shares valued at INR 1,125 Cr and an OFS of INR 375 Cr by promoters, investors, and other stakeholders. The change occurs shortly after SEBI requested that OYO, a chain of hotels, share an updated DRHP along with the financial statements for the September quarter of FY23. OYO’s IPO is expected to be postponed by three months as a result.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

JetSynthesys acquired a majority stake in Manish Maheshwari-led startup Fanory

Next News

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