NoPaperForms Set to Go Public in Rs 500-600 Cr IPO by 2025
NoPaperForms, a leading educational technology startup, is set to go public. The company, known for its student lifecycle management platform Meritto, aims to raise Rs 500-600 crore ($60-70 million) through its initial public offering (IPO) by the end of 2025.
Founded in 2017 by Naveen Goyal (CEO) and Suraj Sapra (CSO), NoPaperForms Solutions Private Limited has since grown and rebranded to NoPaperForms Solutions Limited. The company's core offering, Meritto, manages student lifecycles in educational institutions. Additionally, it operates Collexo, a fee management system for these institutions.
NoPaperForms has shown significant financial growth. After posting a loss of Rs 15.6 crore in FY23, the company turned a profit of Rs 4 lakh in FY24. This positive trend is accompanied by a 45% year-over-year increase in revenue, reaching Rs 70 crore in FY24.
With an estimated valuation of Rs 2,000 crore ($234 million), NoPaperForms' IPO is expected to be led by major investment banks, though specific details are yet to be announced. The company's transition to a public entity signals its growing influence in the education technology sector.
