NoPaperForms Posts Rs 4 Lakh Profit in FY24, Eyes Rs 2,000 Crore IPO by 2025
NoPaperForms, the education technology startup known for its Meritto platform, has turned a corner with a standalone profit of Rs 4 lakh in FY24, after a loss of Rs 15.6 crore in the previous fiscal. The company, founded in 2017, is now gearing up for a public listing by the end of 2025.
NoPaperForms operates Collexo, a fee management system for educational institutions, alongside its core product Meritto, which handles the entire student lifecycle. The company is preparing for an Initial Public Offering (IPO) that is expected to value it at Rs 2,000 crore ($234 million). Through this IPO, NoPaperForms aims to raise Rs 500-600 crore (approximately $60-70 million).
Founded by Naveen Goyal and Suraj Sapra, NoPaperForms Solutions Private Limited has recently been renamed to NoPaperForms Solutions Limited. Info Edge, one of India's largest internet investment holding firms, holds a significant 47.9% stake in the company.
NoPaperForms' successful transition into profitability and its upcoming IPO are significant milestones for the company. The IPO, expected to value the company at Rs 2,000 crore, will provide an opportunity for investors to participate in the growth of this education technology startup.
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