NoPaperForms Solutions Ltd. IPO Details
NoPaperForms Solutions was incorporated on February 8, 2017. The company provides AI-powered vertical SaaS, embedded payments and Agentic AI solutions designed exclusively for the education industry, covering student acquisition, enrolment, fee management and engagement. Its integrated products help educational organisations improve conversions and revenue, optimise marketing spend, enhance operational efficiency and deliver better student experiences
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 38.4 M | - | - | ₹3,750.0 M | DRHP DOC |
NoPaperForms Solutions issue details
NoPaperForms Solutions has 38.4 M shares on offer
NoPaperForms Solutions IPO issue size is ₹ 3,750.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
NoPaperForms Solutions IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
NoPaperForms Solutions NUMBER OF SHARES ON OFFER
NoPaperForms Solutions FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY27 | 44.8 | 6.0 | 10.4 | 10.2 | 18.7% |
| FY26 | 115.6 | 11.9 | 25.9 | 24.7 | 6.6% |
| FY25 | 92.3 | 1.9 | 16.2 | 15.4 | 1.7% |
| FY24 | 70.4 | 0.0 | 14.8 | 14.4 | 0.7% |
NoPaperForms Solutions INFORMATION ON IPO ISSUE
About NoPaperForms Solutions
NoPaperForms Solutions was incorporated on February 8, 2017. The company provides AI-powered vertical SaaS, embedded payments and Agentic AI solutions designed exclusively for the education industry, covering student acquisition, enrolment, fee management and engagement. Its integrated products help educational organisations improve conversions and revenue, optimise marketing spend, enhance operational efficiency and deliver better student experiences
Object of the Issue
- Funding of expenditure for customer acquisition and retention
- Funding of expenditure towards technology development and cloud infrastructure
- General corporate purposes and funding inorganic growth through unidentified acquisitions
NoPaperForms Solutions - PROMOTERS
| Name |
|---|
| Naveen Goyal |
NoPaperForms Solutions - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Naveen Goyal | Chairman, Managing Director & Chief Executive Officer |
| Suraj Sapra | Whole time Director & Chief Strategy Officer |
| Naresh Chand Gupta | Independent Director |
| Neha | Independent Director |
| Siddhartha Pahwa | Independent Director |
| Priyank Shanker Garg | Independent Director |
NoPaperForms Solutions Book Running Lead Manager
IIFL Capital Services Limited
nopaperforms.ipo@iiflcap.com
SBI Capital Markets Limited
nopaperforms.ipo@sbicaps.com
NoPaperForms Solutions Registrar to the Offer
MUFG Intime India Private Limited
nopaperforms.ipo@in.mpms.mufg.com
NoPaperForms Solutions Strengths
Diversified product portfolio
The company offers AI-powered vertical SaaS and embedded payment solutions that address fragmented admissions, student engagement and fee management through automation, data integration and greater visibility. Its platform combines Meritto, Collexo, Mio AI and the Student Engagement Suite, allowing educational organisations to adopt individual solutions and expand across products, users, campuses and programmes based on their requirements
Portfolio cross-selling advantage
The company’s education-focused product portfolio supports customer acquisition, retention and revenue growth through upselling and cross-selling of additional modules and products. Its ability to expand deployments across campuses, regions and educational verticals strengthens customer relationships and increases adoption, as demonstrated by customers that have progressively adopted multiple products and solutions
In-house technology platform
The company operates a proprietary, plug-and-play technology platform serving diverse education customers across universities, schools, coaching institutions, EdTech companies and education consultants, with solutions that can scale across campuses, users, programmes, workflows and transaction volumes. Its modular, microservice-oriented and multi-tenant architecture enables high reliability, uptime, easy access, rapid scalability and efficient maintenance and upgrades as customer requirements grow
NoPaperForms Solutions Risks
Technology adaptation risks
The company operates in a rapidly evolving industry and must continuously innovate and adapt its products, technology infrastructure and platform to changing customer needs and industry standards. Failure to develop new products or adopt technological advancements, despite significant investment in research and development, could reduce its competitiveness and adversely affect its business, financial condition, results of operations and cash flows
Depend on third-party integration
The company’s platform depends on integration with third-party systems, applications and tools, and any compatibility issues or disruptions could affect platform functionality, customer experience and adoption. Changes in third-party technology, APIs, data formats or commercial policies may require ongoing integration efforts, and failure to maintain compatibility could reduce customer growth, engagement and retention
Depend in third-party service
The company offers Pixi, a co-branded prepaid payment instrument and smart student ID card providing campus identification, access, transit and online and offline payment services, launched in April 2025. As Pixi’s cards are issued by RBI-licensed Transcorp International Limited and the company acts as the co-branding partner, any disruption in the third-party provider’s services could affect Pixi’s operations, brand and the company’s financial performance
IPO FAQs
The promoter of the company is Naveen Goyal.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.