Paynearby is planning to tap the IPO market in the following financial year to feed the expansion

Fintech company Paynearby plant a first public offer (IPO) in the following financial year to stimulate the next growth phase.

“We have started the IPO process and conversations with three trading bankers. We will soon select a trade banking to continue with the process,” Paynearby founder, MD and CEO Anand Kumar Bajaj told PTI.

As soon as the trader -banker is completed, Paynearby will submit his concept Red Herring Prospectus (DRHP) to the capital market regulator Sebi, he added.

The company reported a gross turnover of approximately RS 300 Crore and earned a profit of 12 crore in FY25.

The Distribution-AS-A-Service (DAAS) model of the company uses stores, which enables them to offer cash admission, transfer capacity, invoice payments and other services to their local communities, and expected income by 10 percent in the current tax.

As part of expansion, he said, the company wants to recruit around 550-600 new employees towards the end of the current tax year. Grassroots community influences that stimulate consciousness and improve access to essential services such as banking, health, sanitary facilities, insurance and credit for other women in their areas, he said.

Digital toi was launched at the beginning of 2024 to raise national and semi-urban women by offering them digital tools with which they can have income-generating opportunities, he noticed.

This also fits in with the government’s vision on Lakhpati Didi. To date, more than 1.5 Lakh women in more than 10,000 pin codes have been on board, he noticed.

Every digital toi, or digital banker ‘Didi’, works from home or her own customer service (CSP) and offers essential services.

By facilitating these services and earning a committee for each transaction, these women build sustainable resources in the work while expanding access to critical financial and digital tools, he said.

Together they facilitate transactions worth RS 10,000 crore per year, he said, adding that more than 60 percent of them are first entrepreneurs, who earn an average of RS 3500 to RS 5,000 a month.

To reach Viksit Bharat 2047’s vision faster, Paynearby wants to go on board at least 20 Lakh digital Pradhans and 20 Lakh digital Nauris over the next five years, he added.