SaaS-based enrolment automation solution provider NoPaperForms has filed preliminary papers with markets regulator SEBI via a confidential route for raising funds through an initial public offering (IPO).
In a public announcement on Saturday, the company said it has filed "the pre-filed draft red herring prospectus with Sebi and the stock exchanges…in relation to the proposed initial public offering of its equity shares on the main-board of the stock exchanges".
Founded in 2017 by Naveen Goyal and funded by Infoedge, NoPaperForms aims to build a unified, vertically-focused technology platform covering the whole spectrum of running an educational organization from student acquisition, student lifecycle, to student success and outcomes.
Currently, the company supports over 1,000 customers across India, the UAE, and Southeast Asia.
At present, NoPaperForms offers two flagship products, Meritto– operating System for Student Recruitment and enrolment, and Collexo– full-stack payment solution that brings predictability and scalability to fee management for educational institutions.
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The company has opted for the confidential pre-filing route, which allows it to withhold public disclosure of IPO details under the draft red herring prospectus (DRHP) until later stages. This route is gaining traction among Indian firms aiming for flexibility in their IPO plans.
In recent months, logistics service provider Shadowfax Technologies, commerce enablement platform Shiprocket, Tata Capital, edtech unicorn PhysicsWallah and Imagine Marketing, the parent company of wearables brand boAt and stock broking platform Groww also chose confidential filings.
In 2024, food delivery giant Swiggy and retail chain Vishal Mega Mart floated their IPOs following similar filings.
Market experts say that the confidential pre-filing route offers companies greater flexibility and reduces the pressure to go public quickly. PTI SP ANU ANU
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