PayMate India IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 17, 2022With the year 2022 came numerous opportunities for companies to climb back into their business and take their ventures one step ahead. Many companies have already knocked on the door to bring their IPO and have received heads up from the regulatory authority of capital and securities market, SEBI.
And in an attempt to flourish the business and pave the way to a new dimension, a business-to-business (B2B) digital and financial services company, PayMate India Limited, has filed the DRHP with SEBI.
PayMate India IPO is a fresh issue and an offer for sale. In this PayMate India IPO Review, we will unveil all the important factors to consider before investing.
| Face Value | Rs 1 |
| Price Band | Not Disclosed |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Rs.375 Crore |
| Fresh Issue | Rs.1125 Crore |
| IPO Size | Not Disclosed |
| Tick Size | 1 |
PayMate India IPO Overview
PayMate India IPO encompasses a Fresh Issue of Equity Shares aggregating up to Rs. 1,125 crore and an Offer for Sale aggregating up to Rs. 375 crore. The B2B payments company has decided to go public to attain the desired business growth and invest towards expanding the business geographies.
Along with the IPO, the company might consider issuing equity through a Pre-IPO placement for up to Rs. 225 crore.
PayMate India IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
PayMate India has recently filed the Draft Red Herring Prospectus (DRHP) with the regulatory authority Securities and Exchange Board of India (SEBI) on 28th May 2022. The IPO is in the preliminary procedure, and once it obtains approval, it will intake the other process for the launch of the IPO.
The PayMate India IPO Dates will be revealed only after the approval from SEBI.
PayMate India IPO Price, Size, Share Offerings
| Face Value | Rs.1 |
| Price Band | Not Disclosed |
| Offer for Sale | Rs.375 Crore |
| Fresh Issue | Rs.1125 Crore |
| IPO Size | Not Disclosed |
PayMate India IPO Size in terms of the total number of shares will be computed post IPO. In the said IPO, equity shares will be offered through a Fresh Issue and an Offer for Sale. Promoters, Promoter Group, and other existing investors will be offloading their shares in the OFS.
PayMate India IPO Price will be determined by the company and the selling shareholders in consultation with the Book Running Lead Managers (BRLMs). The face value of the equity shares is Rs. 1 each.
PayMate India IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Disclosed | |||
Grey Market is a trading platform for the securities of companies. It is an unofficial market that has its credibility on the happenings of the stock market. The shares of the issuer company are generally traded in this market before the listing on the stock exchange.
PayMate India IPO GMP or Grey Market Premium will be the amount at which the shares will be traded in the Grey Market.
PayMate India IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
In an IPO, pre-determined portions are reserved for different types of investors.
The PayMate India IPO Subscription will be reserved in the following manner: at least 75% of the offer will be reserved for allocation to the Qualified Institutional Buyers (QIBs), 15% of the offer will be allocated to the Non-Institutional Bidders, and the remaining 10% will be reserved towards allocation for the Retail Individual Bidders.
PayMate India is making the requisite preparations to launch the IPO and raise funds for the objectives of the IPO.
PayMate India IPO Allotment Status
The basis of PayMate India IPO allotment will be decided after the subscription period has concluded and the company has received all the applications for the subscription to the shares. The allotment process affects the transfer of shares to the successful bidders.
The shares are credited in the dematerialized form. Later, the same is listed on the stock exchange.
PayMate India IPO Live Performance
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PayMate India – Company Review
PayMate India was incorporated in 2006 in the form of a private limited company, ‘PayMate India Private Limited.’ The company was earlier based in Chennai, Tamil Nadu, and presently is headquartered in Mumbai. In March 2022, the company was converted to a public limited company, and subsequently, its name was changed to “PayMate India Limited.”
PayMate India lays down a digital platform to make faster vendors’ payments in no time. They provide an efficient and reliable payment point such that companies can smoothly operate, and the bars of a few payment options don’t stop them.
Products or Services
The platform designed by PayMate India provides various facilities for vendors and companies. The company is a B2B payments and services provider attempting to streamline B2B payments and automate the supply chain.
PayMate India offers Payments Automation, Procure-to-Pay, Invoice Discounting, Process Automation, and Credit Engine.
Along with the payment options, the platform allows users to use their commercial credit cards to make payments toward direct taxes and GST.
Promoters and Holding
The Promoters of Paymate India Limited are:
- Ajay Adiseshan
- Vishvanathan Subramanian
The management of the company consists of:
- Ajay Adiseshan, in the position of Chairman and Managing Director
- Vishvanathan Subramanian, in the position of Whole-time Director and Chief Financial Officer
- Sandeep Murthy, in the position of Nominee Director
- Kevin Christopher Phalen, in the position of Independent Director
- Monica Niranjan Doshi, in the position of Independent Director
- Ashim Kumar Banerjee, in the position of Independent Director
- Rakesh Khanna, in the position of Chief Commercial Officer
- Mahesh Sharma, in the position of Senior Vice President (information systems and security)
- Sadanand Monappa Moily, in the position of Senior Vice President (finance and compliance)
- Ashutosh Verma, in the position of Senior Vice President – product management
- Mangesh Kulkarni, in the position of Senior Vice President (software engineering)
- Nanda Harish, in the position of General Legal Counsel and Company Secretary and Compliance Officer
- Dean Gonsalves, in the position of Senior Vice President (design and innovation)
Is PayMate India good for Investment?
PayMate India Limited operates in the digital sphere of business and offers a platform to affect payments between businesses and companies. The company and its operations have a wide scope in the present times as most businesses are looking for easy and convenient means of processing payments and ensuring smoother operations.
The company’s management consists of highly skilled and experienced individuals who put their efforts into designing and continuously bringing ease to the companies and other businesses.
PayMate India Financial Statements
| Amount (in INR & Million) | ||||
| 31-Dec-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Assets | 582.01 | 238.25 | 413.74 | 88.79 |
| Revenue | 8,437.18 | 3,490.23 | 2,173.63 | 2,360.35 |
| Expense | 8,864.98 | 3,771.35 | 2,451.31 | 2,439.96 |
| Profit After Tax | (427.80) | (281.12) | (277.68) | (79.61) |
PayMate India Limited has not reported a very appealing financial upfront. Though the company’s total revenues are expanding every year, its losses from the operations are not going down.
The company’s total revenues for 2019, 2020, and 2021 were – 2,360.35 million, 2,173.63 million, and 3,490.23 million.
The company’s losses for the years 2019, 2020, and 2021 were – (79.61) million (277.68) million, and (281.12) million.
In the nine months of the financial year 2021-22 ended 31st December 2021, the total revenue of PayMate India Limited was 8,437.18 million, and its losses for the period stood at (427.80) million.
| Earnings per Equity Share (in Million) | ||||
| 31-Dec-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Basic & Diluted | (8.00) | (5.41) | (5.41) | (1.58) |
The EPS of PayMate has also diminished over the years. As of 31st December 2021, the EPS was Rs. (8.00). Earlier to this, the EPS was around Rs. (5.41) from March 2020 to March 2021.
PayMate India IPO Review
PayMate India IPO combines a Fresh Issue of shares for up to Rs. 1,125 crore and an Offer for Sale for up to Rs. 375 crore. Promoters and Promoter Group entities will be selling their stakes and lowering their holding. Apart from them, some of the company’s early investors will also sell their shares and participate in the Offer for Sale.
The IPO is proposed by PayMate India to invest in expanding its business and increasing its geographic reach. The company will also execute its organic and inorganic growth initiatives.
PayMate India IPO Details
Here are few more details you need to know before investing in PayMate India IPO –
PayMate India IPO Issue Object
- Utilisation of Net Proceed
- Proposed schedule of implementation and deployment of Net Proceeds
PayMate India IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Leading B2B payments solutions provider;
- Long term Customer relationships and deep focus on User engagement;
- Relationships with key stakeholders in the payment automation ecosystem;
- Scalable and data-centric technology enabled platform;
- Strong focus on processes and risk management; and
- Experienced management team and marquee shareholders.
Quantitative factors are:
| Basic EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | (5.41) | (163.40) | 7.36 |
| 31-Mar-20 | (5.41) | (79.57) | – |
| Mar-19 | (1.58) | (209.17) | – |
PayMate India IPO Lead Managers
Here are the list of Lead managers –
- ICICI Securities Limite
- HSBC Securities and Capital Markets (India) Private Limited
- JM Financial Limited
- SBI Capital Markets Limited
PayMate India IPO Registrar to offer
Check out the details of the registrar here –
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L. B. S. Marg, Vikhroli West
Mumbai 400 083 Maharashtra, India
Tel: +91 22 4918 6200
E-mail: paymate.ipo@linkintime.co.in
Investor grievance E-mail:
paymate.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No: INR000004058
PayMate India IPO – Other Details
- Statutory Auditor – MSKA & Associates
- Legal Counsel to the Company – Shardul Amarchand Mangaldas & Co
- Bankers to the Company – ICICI Bank Limited, Union Bank of India, YES Bank Limited
PayMate India IPO – Conclusion
The PayMate India Limited is an innovative company that offers Business to Business payments and services to its customers. The company’s clients and customers majorly comprise companies and businesses.
Through the platform designed by the company, businesses can make payments in between each other. The platform eases various other procedures too.
The company’s present financial standings are not very viable, but they can improve over the coming period with expanded operations and creating new avenues.
The future of PayMate India does seem favorable as it has entered into an existing tried and tested segment with innovations. Also, PayMate India IPO will help it bring various viabilities.
To Subscribe to PayMate India IPO – Open Demat Account Now!
PayMate India IPO Review FAQs
Check out the FAQs on PayMate India IPO –
What is the Issue Size of PayMate India IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of PayMate India IPO?
The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.1 per share.
What is the PayMate India IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the PayMate India IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the PayMate India IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of PayMate India IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of PayMate India IPO?
Here are the promoters of this IPO – AJAY ADISESHAN AND VISHVANATHAN SUBRAMANIAN. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of PayMate India IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is PayMate India IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of PayMate India Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is (281.12), 2020 is (281.12), 2019 is (79.61). PAT from Dec 2021 is (427.80).
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