Liquidity Events
CRM platform for education industry NoPaperForms files to raise Rs.375-Cr
Gurugram-based Meritto’s parent, NoPaperForms has filed its updated draft red herring prospectus (UDRHP) for its initial public offering (IPO). The company’s proposed public issue consists of a fresh issue of shares worth INR 375 crore and an offer for sale (OFS) of 3.8 crore equity shares. Info Edge, through its subsidiary Startup Investments (Holding), is the sole investor participating in the OFS, offloading 3.8 crore shares.Founded in 2017 by Naveen Goyal and Suraj Sapra, NoPaperForms provides two primary product lines: Meritto, a SaaS-based enrolment automation and CRM platform for educational institutions and Collexo, which offers fee collection, payment solutions and co-branded cards. Additionally, the company operates an AI suite named Mio AI, which assists educational organisations in automating student-facing and institutional workflows.The company plans to use INR 148 crore of the fresh proceeds to strengthen its technology stack and cloud infrastructure, while INR 96 crore is allocated for customer acquisition and retention. The remainder of the funds will be directed towards inorganic growth through acquisitions.
Between Jun 2011 and Dec 2018, Nopaperforms.com had attracted about USD 6 M from Pix Vine Capital, Info Edge and others.For FY25, Nopaperforms.com had reported about INR 92 Cr in Operating Income and about INR 1.88 Cr in PAT.
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