PayMate India Limited is a prominent B2B payments and services company that digitizes, automates, and simplifies supply chain payments. (Source : RedSeer Report). PayMate India IPO will hit the stock market in September 2022.
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About PayMate India
PayMate India Limited is a global leader in B2B payment services based on digital technologies. PayMate India want to enhance the B2B supply chain payments method by using their platform throughout the entire value chain, which involves clients who have entered into contracts with them, registered with them, or downloaded their software for use of service offerings on their ecosystem, portals or mobile application users who have made or received payments using their platform without any contracts, registration with them, or downloading their application (the “User”).
Their financial institution partners, who provide corporate credit cards and other financial products and Services to their customers, make payments to their vendors, suppliers, dealers, and distributors, and receive payments from their clients.
Platform
Their platform is a multi-payment category platform that incorporates vendor payments, statutory payments, and utility payments, giving their customers a “fully-integrated” B2B payments stack.
The platform’s strength comes from its flexibility to interface with a variety of clients throughout their payment services range.
Customer A, Crompton Greaves Consumer Electricals Limited, Kansai Nerolac Paints Limited, SBI Cards and Payment Services Limited, and Jay Bharat Maruti Limited are among the 480 enterprises that have subscribed to their platform’s enterprise plan (“Enterprise Customers”) to receive payments from their buyers, dealers, and resellers.
Vendors, suppliers, buyers, dealers, & distributors are expected to use their services and offers more frequently as a consequence of this. Customers may also make statutory direct tax payments using their portal.
Growth
Paymate India Limited have 49,953 clients as of December 31, 2021, with 480 being Enterprise Customers and 49,473 being small and medium firms who subscribed to their platform’s basic plan (“SME Customers”).
In December 2021, Paymate India had a TPV of 77,731.45 million, while in Fiscals 2019, 2020, 2021, and the nine months ending December 31, 2021, they had TPVs of 17,525.57 million, 16,470.35 million, 18,451.61 million, and 53,778.34 million, correspondingly.
In terms of TPV processed in the nine months ending December 31, 2021 (464,766.45 million handled between April and December 2021), Paymate India Limited were the leading B2B payments player and one of the fastest expanding operators of on-line, card-based payment-processing services in India. (Source : RedSeer Report)
PayMate India IPO
PayMate India Limited, headquartered in New Delhi has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of INR 1,500 Crore on 28 May 2022.
The offer includes a fresh issue of INR 1,125 Crore and there is offer for sale (OFS) of INR 375 by the promoters mentioned in the DRHP. They are looking for a Pre-IPO placement of INR 225 Crore in this issue.
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- PayMate India-Initial Public Offering
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Financials Trends
| Particulars | For the year/period ended ( in Cr.) | ||||
|---|---|---|---|---|---|
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 58.20 | 23.83 | 41.37 | 8.88 | |
| Total Revenue | 843.72 | 349.02 | 217.36 | 236.04 | |
| Profit After Tax | (42.78) |
(28.11) | (27.77) | (7.96) | |
Basic and Diluted Earnings Per Share
| Financial Period | Basic EPS (in INR) | Diluted EPS (in INR) | Weight |
| Financial Year 2021 | (5.41) | (5.41) | 3 |
| Financial Year 2020 | (5.41) | (5.41) | 2 |
| Financial Year 2019 | (1.58) | (1.58) | 1 |
| Weighted Average | (4.77) | (4.77) | |
| 31 Dec. 2021 | (8.00) | (8.00) |
Objects of the Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
Basis of the offer
They feel that the following qualitative factors & business strengths enable them to compete successfully in the industry, and that these factors will be used to calculate the Offer Price:
- Leading supplier of B2B payment solutions.
- Long-term customer connections are prioritized, as is a strong focus on user interaction.
- Relationships with the payment automation ecosystem’s important players.
- Platform with scalable and data-centric technologies.
- Processes and risk management are given a lot of attention.
- Management team has a lot of experience and a lot of money.
PayMate India Peer Comparison
There are no publicly traded firms in India with a range of products and services equivalent to theirs, or a scale of operations comparable to theirs. As a result, providing an industry comparison in connection to the Company is not feasible.
PayMate India IPO Details
| IPO Opening Date | September 2022 |
| IPO Closing Date | September 2022 |
| Issue Type | Book Building |
| Face Value | 1 per share |
| IPO Price | 0 to 0 per equity share |
| Market Lot | – |
| Min Amount | – |
| Listing At | BSE, NSE |
| Issue Size | 1500 Crore |
| Fresh Issue | 1,125 Crore |
| Offer for Sale | 375 Crore |
PayMate India IPO Date
PayMate India Limited IPO opening date is September 2022, and the closing date is September 2022. The PayMate India issue may list in September 2022.
| IPO Opening Date | September 2022 |
| IPO Closing Date | September 2022 |
| Basis of Allotment Date | September 2022 |
| Initiation of Refunds | September 2022 |
| Credit of Shares to Demat Account | September 2022 |
| IPO Listing Date | September 2022 |
Basis of Allotment
| Type | % of Offer | Basis of Allotment |
|---|---|---|
| Qualified Institutional Buyer | 75 |
Roughly equivalent
|
| Non Institutional Investor | 15 |
Roughly equivalent
|
| Retail | 10 | Minimum 1 lot based on availability |
PayMate India India Limited IPO Status
Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.
Here, you can find the Allotment Status of PayMate India IPO.
PayMate India IPO GMP
PayMate India Limited IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:
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Check Out the GMP of all Other IPOs
PayMate India Limited IPO Review
PayMate India Limited IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of PayMate India IPO is good or bad.
PayMate India Limited IPO Risk
- They work in a regulated industry that is governed by constantly changing rules and regulations.
- Certain of their customers account for a considerable amount of their revenue. For the nine months ended December 31, 2021, their largest customer and top five customers (other than their largest customer) provided 20.68 percent and 43.50 percent of their revenue from operations, respectively.
- In terms of B2B digital payments solutions, they rely on their contracts and arrangements with Visa Inc.
- The amount of suppliers and vendors on their platform will determine their future income and profitability.
- They have a track record of net losses and negative cash flow in past fiscal years. To attain profitability, they must grow sales while controlling costs and expense.
Other Threats
- Their past & future failure to comply with the regulations that apply to their business, as well as changes to those laws & regulations, might result in enforcement actions and fines, as well as harm to their firm.
- If they do not collect trade receivables in a timely or timely way, or at all, their financial situation may suffer considerably & negatively.
- The continuing new coronavirus (COVID-19) epidemic, as well as steps to contain it, have had, and may continue to have, a major & negative impact on their business.
- Their efforts to expand internationally may not be effective, or they may face higher hazards. To increase their geographical footprint in foreign markets, they rely on relationships with their financial institution partners and Visa.
Services
They began operations in 2006 & have since evolved from a consumer-facing payment platform to a B2B payments platform.
Since B2B payments necessitate real-time & high-quality interconnection with customer systems, they’ve partnered with key stakeholders in the value chain, such as financial institutions & a card network vendor, since 2009 to connect with stakeholders in the ecosystem and facilitate businesses to automate their account payables and receivables.
On the one hand, their online platform is distinguished by its interaction with the Customer’s ERP/IT systems for automating payables & receivables, and on the other hand, their processing services, which comprise card number evaluation & acceptance, as well as fraud detection.
Their technology allows users to migrate from paper-based workflows to software-driven workflows with digital payment streams.
PayMate India Limited IPO Brokerage views
Once the dates will be announced we will update the views of different brokerage firms regarding this IPO. Here is the views of different stock brokers regarding this PayMate India IPO:
- Yes Securities : Not Updated
- Choice Brokering: Not Updated
- Axis Securities: Not Updated
- IIFL Securities: Not Updated
- Trade swift: Not Updated
- Anand Rathi : Not Updated
- ICICI Securities: Not Updated
PayMate India Limited IPO Subscription Status
| Date | Day | QIB | NII | Retail | Employees | Total Subscription |
| September 2022 | 1 | |||||
| September 2022 | 2 | |||||
| September 2022 | 3 |
PayMate India Limited Management
Their Chairman and Managing Director has worked for organizations like Coruscant Tec Private Limited and Web Resource Private Limited, which specializes in web development.
Their board of directors is made up of two Executive Directors (the Chairman and Managing Director, as well as a Whole-Time Director) and four Non-executive Directors (three Independent Directors, including one woman Independent Director), with an average tenure of nearly six years.
Their directors have backgrounds in finance and entrepreneurship, as well as knowledge in the financial services, payments, and technology industries.
Paymate India’s board of directors is advised by three independent directors with backgrounds in electrical engineering, worldwide commercial business management, and human resources. An seasoned executive leads each of their company functions.
PayMate India Limited‘ Promoters
- Ajay Adiseshan
- Vishvanathan Subramanian
Promoter’s Holding
| Pre Issue Share Holding | 58.99% |
| Post Issue Share Holding |
PayMate India Limited Prospectus
Contact Details
PayMate India Limited
No. 111, 1st Floor, ‘A’ Wing, Sundervilla, S. V.
Road, Santacruz (West), Mumbai 400 054,
Maharashtra, India
Tel: +91 22 26616170
E-mail: [email protected]
Website: www.paymate.in
Registrar
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: [email protected]
Website: www.linkintime.co.in
Lead Manager(s)
- JM Financial Limited
- ICICI Securities Limited
- HSBC Securities and Capital Markets (India) Private Limited
- SBI Capital Markets Limited
We hope we are able to answer all your questions about PayMate India IPO. If you don’t have a Demat account, open it now with Zerodha best trading app of India.
Disclaimer
The reference of IPO Grey Market Premium (IPO GMP) is only valid for the date specified in the header.
On the IPO Grey Market, we do not purchase or sell IPO forms.
The Kostak Rate is the profit earned by selling an IPO application (in an off-market transaction) to somebody else before the issue is allotted or listed.
Do not subscribe to an IPO based solely on the premium price, as it may alter at any time before to the listing. Only consider the fundamentals of the companies when subscribing.
The GMP rates for IPOs are based on market intelligence. Please keep in mind that these IPO GMP rates may vary by geography and market.
Note:
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FAQ
PayMate India Limited IPO Opening Date?
PayMate India Limited IPO will open in September 2022.
PayMate India Limited IPO Listing Date?
PayMate India Limited IPO will list in September 2022.
PayMate India IPO GMP Today?
PayMate India IPO Grey Market Premium is INR 0 .
PayMate India Limited IPO Allotment Date?
PayMate India Limited IPO basis of allotment will be in September 2022.
Lot size for PayMate India Limited IPO?
Lot size for PayMate India Limited IPO is 0.
