PayMate India files papers with Sebi to raise Rs 1,500 cr through IPO

Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO).

The initial share-sale comprises fresh issue of equity shares worth Rs 1,125 crore and Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders, according to the draft red herring prospectus (DRHP).

Those selling shares in the OFS include promoters — Ajay Adiseshan and Vishvanathan Subramanian and investors — Lightbox Ventures I, Mayfield FVCI Ltd, RSP India Fund LLC and IPO Wealth Holdings, besides, certain existing shareholders are too offering shares through this route.