Fintech Company PayNearby Prepares for IPO with Ambitious Growth Story! 🚀
Wow, isn't the news about PayNearby preparing for its IPO truly exciting? 🤩 We're already looking forward to the growth that lies ahead! Pay attention to the story of PayNearby as it further leaps forward as a leader in the fintech sector!
Hello everyone! Today, I've brought a truly welcome piece of news. It's about the Indian fintech company PayNearby preparing for its IPO (Initial Public Offering).
I was also really looking forward to seeing how PayNearby would grow after reading this news!
PayNearby Aims for IPO Market in the Next Fiscal Year!
PayNearby plans to lay the groundwork for its next phase of growth through an IPO in the upcoming fiscal year.
Anand Kumar Bajaj, the founder, MD, and CEO of PayNearby, stated, "We have initiated the IPO process and are in discussions with three merchant bankers." He added, "As soon as the merchant bankers are finalized, we will submit the DRHP (Draft Red Herring Prospectus) to Sebi, India's capital markets regulator."
This is a clear signal that PayNearby is preparing for a bigger leap, isn't it? 📈
Targeting ₹30 Billion in Revenue and ₹1.2 Billion in Profit in FY25!
The company recorded a total revenue of approximately ₹30 billion (about 300 billion KRW) and achieved a profit of ₹1.2 billion (about 12 billion KRW) in the fiscal year 2025 (FY25).
This is truly a remarkable achievement. Demonstrating such solid performance in the challenging fintech market is proof of PayNearby's excellent business model and operational capabilities.
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The Power of the 'Distribution-as-a-Service (DaaS)' Model
One of the keys to PayNearby's success is its 'Distribution-as-a-Service (DaaS)' model. This model leverages retail stores to enable them to provide various services such as cash withdrawals, remittances, and bill payments to local communities.
If you think about it, how convenient would it be if small shops around us could provide these financial services? PayNearby is providing exactly this convenience and contributing to the revitalization of the local economy.
The company currently expects its revenue to grow by 10% in the current fiscal year through this DaaS model. It's impressive that they are continuing their steady growth trend! 😊
Plans for Staff Expansion and Women's Empowerment
The funding raised through this IPO is also expected to play a crucial role in PayNearby's expansion strategy.
Anand Kumar Bajaj stated that as part of the company's expansion plans, they aim to hire approximately 550 to 600 new employees by the end of the current fiscal year.
Such an aggressive hiring plan raises expectations for business scale expansion and the launch of new services.
Furthermore, Mr. Bajaj also highlighted the importance of women's empowerment, demonstrating that PayNearby is not only pursuing business growth but also deeply committed to social responsibility.
How Will This Affect Our Lives?
If PayNearby's IPO is successful, it is expected to have a positive impact on the entire Indian fintech market. More innovative fintech services will emerge, and consumers will be able to experience more convenient and diverse financial services.
What are your thoughts on the growth of fintech companies like PayNearby? Aren't you curious about how our financial lives will change in the future? Please share your opinions freely in the comments! 👇
I am truly looking forward to PayNearby's future endeavors. I support their growth through IPO and hope they bring positive changes to our lives! ✨