Gurugram-based SaaS startup NoPaperForms, known for its flagship brand Meritto in the education sector, has transitioned into a public company in preparation for an IPO by the end of 2025.
Recent filings reveal that the company's board approved the name change from NoPaperForms Solutions Private Limited to NoPaperForms Solutions Limited, a critical step for going public in India.
NoPaperForms aims to raise around Rs 500-600 crore through its IPO, managed by investment banks IIFL Capital and SBI Capital, with an estimated valuation of Rs 2,000 crore.
Founded in 2017 by Naveen Goyal and Suraj Sapra, NoPaperForms offers Meritto, a platform for managing the student lifecycle, and operates Collexo, a fee management system. The startup's financials have shown significant improvement, with profits in FY24 compared to a loss in FY23.