New Launch5 Mar 2025, 05:02 pm
INFO EDGE-BACKED NoPaperForms May Undertake Rs 500-Crore IPO
AI Summary
INFO Edge (India) Ltd. has clarified a news article published in Moneycontrol regarding NoPaperForms Solutions Private Limited (Meritto) hiring bankers for a potential Rs 500-crore IPO. The company, which holds approximately 48% of Meritto's paid-up equity share capital through its subsidiary Startup Investments (Holding) Limited, has received an intimation from Meritto's board of directors approving the IPO proposal. However, the board of directors of INFO Edge or SIHL has not yet decided if they will participate in the offer for sale or hold onto their entire investment in Meritto. The company will update the stock exchanges as and when a decision is made, and will make appropriate disclosures as required by law.
Key Highlights
- INFO Edge holds approximately 48% stake in NoPaperForms Solutions Private Limited
- NoPaperForms board approved IPO proposal worth Rs 500 crore
- INFO Edge and its subsidiary yet to decide on offer for sale participation
- Company will update stock exchanges as decisions are made
- Appropriate disclosures will be made as required by law