Info Edge-Backed NoPaperForms Seeks Rs 375 Crore in IPO Push

NoPaperForms, the digital form-building platform backed by classified listings platform Info Edge, has moved forward with its initial public offering plans by filing an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).

The company plans to raise Rs 375 crore through a fresh issue of equity shares, according to regulatory filings. In addition to the primary issuance, the IPO structure includes an offer for sale component where existing investor Startup Investments (Holding) will divest 3.84 crore equity shares.

The company has been working to strengthen its market position in the low-code and no-code software solutions space, which has seen growing adoption across Indian enterprises seeking to digitize operations. NoPaperForms' platform enables organizations to create and deploy digital forms without requiring extensive coding expertise.

The updated DRHP filing represents a significant milestone for the startup, which operates in the competitive space of workflow automation and digital transformation tools. The IPO proceeds are expected to support the company's expansion plans and product development initiatives.

Subject to regulatory approvals and market conditions, NoPaperForms aims to list on the stock exchanges, joining a growing cohort of Indian software and services companies that have accessed public capital markets in recent years.