SaaS Firm NoPaperForms Seeks Market Debut via Confidential IPO Filing

SaaS-based enrolment automation solutions provider NoPaperForms has filed preliminary papers with markets regulator SEBI for its Initial Public Offering (IPO) using a confidential route. The company, founded in 2017 by Naveen Goyal and funded by Infoedge, aims to provide a unified technology platform for educational organizations, covering student acquisition, lifecycle management, and outcomes. NoPaperForms currently supports over 1,000 customers across India, the UAE, and Southeast Asia with flagship products like Meritto and Collexo. The confidential pre-filing route allows companies to withhold public disclosure of IPO details until later stages, a strategy increasingly adopted by Indian firms like Swiggy, Groww, and PhysicsWallah seeking flexibility.

**Impact** This news is a precursor to a potential Initial Public Offering (IPO). If successful, NoPaperForms could list on Indian stock exchanges, offering investors a new opportunity in the EdTech SaaS sector. This filing demonstrates the company's growth trajectory and its ambition for further expansion, potentially boosting investor confidence in similar technology-focused companies. The confidential filing route itself indicates a strategic approach by companies navigating the IPO process in India. Impact Rating: 6/10

**Difficult Terms** * **IPO (Initial Public Offering)**: The process by which a private company offers its shares to the public for the first time, becoming a publicly traded entity on a stock exchange. * **SEBI (Securities and Exchange Board of India)**: The regulatory body responsible for overseeing and developing the Indian securities market. * **Confidential Route/Pre-filing**: A regulatory option allowing companies to submit IPO application documents to SEBI privately, deferring public disclosure of detailed information. * **Draft Red Herring Prospectus (DRHP)**: A preliminary document filed with SEBI containing essential information about the company and the proposed IPO. * **SaaS (Software as a Service)**: A cloud-based software model where applications are licensed on a subscription basis and accessed over the internet.