SEBI asks PayMate India to refile DRHP

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SEBI asks PayMate India to refile DRHP

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.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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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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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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