IPO · Enterprise Software & IT

NoPaperForms files confidential DRHP for IPO

By Startup Enthusiast · 8 November 2025

What they do

NoPaperForms provides SaaS-based enrolment automation and payment solutions for educational institutions

It filed a confidential pre-filed DRHP with SEBI for a main-board IPO, keeping details undisclosed for now

The confidential route is gaining traction among Indian firms, with others like Shadowfax and PhysicsWallah also using it

NoPaperForms filed a confidential pre-filed DRHP (draft red herring prospectus) with SEBI and stock exchanges for a main-board IPO.
The confidential pre-filing route allows the company to withhold public disclosure of IPO details until later stages.
The company was founded in 2017 by Naveen Goyal.
It is funded by Infoedge.
NoPaperForms aims to build a unified, vertically-focused technology platform covering student acquisition, lifecycle, success and outcomes.
Its flagship product Meritto is an operating system for student recruitment and enrolment.
Another product, Collexo, is a full-stack payment solution for fee management in educational institutions.
The company serves over 1,000 customers across India, UAE, and Southeast Asia.

The confidential pre-filing route is gaining traction among Indian firms for IPO flexibility.
Other companies using confidential filings include Shadowfax Technologies, Shiprocket, Tata Capital, PhysicsWallah, Imagine Marketing (boAt), Groww, Swiggy, and Vishal Mega Mart.
NoPaperForms is building technology infrastructure for education: AI-powered vertical SaaS, embedded payments, and agentic AI.

NoPaperForms provides SaaS-based enrolment automation and payment solutions for educational institutions.
Its flagship product Meritto is an operating system for student recruitment and enrolment.
Its product Collexo is a full-stack payment solution for fee management.
It launched Mio AI, an agentic AI layer, in 2025.
It serves segments including Universities & Colleges, Pre-K & K-12 Schools, Coaching & Test Prep, EdTech Providers, Education Consultants, Entrance Examinations, and Education Groups.
In fiscal 2026, it served 1,183 customers, centralised 148.76 million student enquiries, facilitated 1.86 billion personalised communications, and processed ₹31,798.47 million in education fees.
It runs community initiatives: Evolve (regional user conferences) and Illuminate (webinar series).