## Meritto Parent NoPaperForms Clears SEBI Hurdle, IPO Launch Imminent
The parent company of enterprise SaaS startup Meritto, NoPaperForms, has secured the critical green light from India's Securities and Exchange Board (SEBI) to proceed with its initial public offering. The regulator issued its observation letter, clearing the final regulatory hurdle and setting the stage for the public issue to launch in the coming months. This approval follows the company's confidential filing of its draft red herring prospectus in November 2025, signaling a strategic move to go public.

The IPO is structured as a mix of a fresh issue of shares and an offer for sale (OFS). Notably, major investor Info Edge is set to partially exit, planning to sell a portion of its stake through the OFS, which will reduce its shareholding below 25% post-listing. Meritto aims to raise between ₹500 to ₹600 crore, targeting a valuation of approximately ₹2,000 crore. IIFL Capital Services and SBI Capital Markets have been appointed as the lead bankers to manage the issue.

This move to list comes against a backdrop of a reported improvement in Meritto's financial performance, adding momentum to its market debut. The successful IPO will test investor appetite for SaaS companies in the current climate and marks a significant liquidity event for early backers like Info Edge.
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- **Source**: Inc42
- **Sector**: The Vault
- **Tags**: IPO, SEBI, SaaS, Venture Capital, Info Edge
- **Credibility**: unverified
- **Published**: 2026-03-27 14:39:48
- **ID**: 37861
- **URL**: https://whisperx.ai/en/intel/37861