Paymate India Unlisted Shares Pre IPO Shares

Paymate LogoPayMate is a leading provider in B2B payments for Enterprise and SME across supply chains. The PayMate platform provides a comprehensive digital workflow tied to payments which enable greater control and transparency along with better cash flows and an end to end reconciliation for a superior experience for Enterprise and SME in closed-loop supply chains. Current, Paymate Unlisted Share Price buy sell rate is Rs 350 – 375 per share and is negotiable as per quantity. Lot size of 100 shares is generally preferable but is totally flexible and can be customized as per buyer investor requirements.

For buying selling unlisted Pre IPO stocks of Paymate India at best rates, please call Dharawat Securities on 8108303330. 

PayMate works with leading Visa commercial card-issuing banks to facilitate credit for both payables and receivables across supply chains moving traditional cash, cheque and EFT to card streams with several built-in risk-mitigating benefits for banks and extended days payables for buyers.

Platform features include Procure to Pay automation, credit evaluation, discount marketplace along with APIs for integration into existing accounts/ERP for minimal friction-based deployment. It is cloud-based and accessible across all form factors.

PayMate Company Details
Paymate ISIN is INE08J501021
PAN Number of Paymate India is AAECP0062G

PayMate has a presence in South Asia (India) and UAE and is actively expanding across CEMEA.

PayMate India announced that it has appointed Rakesh Khanna as its Chief Commercial Officer, effective January 1, 2022. Rakesh will be responsible to lead the Company’s Global Expansion, Business Development, Strategy, Marketing, and management of P&L.

Founded in 2006 by Ajay Adiseshann, PayMate is a B2B payments solution provider, which allows a company to make payments across a supply chain. The unicorn also works with banks to offer credit services to SMEs and enterprises. Further, it offers Procure to Pay (P2P) automation and APIs which allow companies to deploy PayMate’s solution in their ERPs for reconciliation.
Adiseshann is PayMate’s largest stakeholder; along with Vishvanathan Subramanian, PayMate’s CFO, he holds a 29.59% stake in the company on a fully-diluted basis. In terms of institutional investors, Lightbox Ventures is the largest stakeholder in the company, holding a 27.31% stake in PayMate on a fully-diluted basis.
As of December 31, 2021, the PayMate platform is being used by more than 1,67,000 Indian businesses.

In Fiscal 2021, it completed the merger with Zaitech Technologies, which has enabled it to integrate the credit evaluation and scoring technology of Zaitech Technologies with the payments platform, thereby offering an integrated payments and credit platform.

As on December 31, 2021, it had 49,953 Customers, of which 480 were Enterprise Customers and 49,473 were small and medium enterprises which subscribed for basic plan on its platform (“SME Customers”). In terms of Transaction processing volume (TPV) processed, it is India’s largest B2B payments player and one of the fastest growing providers of on-line, card-based payment-processing services, with a TPV of ₹77,731.45 million in December 2021.

According to RedSeer report quotes in its DRHP, the total global TPV for B2B payments, excluding cross-border payments, increased from around USD 101 trillion (Rs 7846.91 trillion) in 2018 to USD 114 trillion (Rs 8856.91 trillion) in 2021, and is predicted to increase to almost USD 142 trillion (Rs 11032.29 trillion) in 2025, representing a CAGR of 5.7 percent from 2020. In 2021, the B2B payment market in India and the Gulf Cooperation Council (GCC) will be worth around USD 12 trillion (Rs 932.31 trillion), and by 2025, it will be worth around USD 17 trillion (Rs 1320.77 trillion).

Visa has a partnership with the Mumbai-based fintech unicorn. It is also a shareholder in PayMate, owning 2.94 per cent of the fully diluted paid-up equity share capital.

The firm’s other investors include Times Group parent Brand Capital, the strategic investment arm of Bennett, Coleman & Co. Ltd, American venture capital funds Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers and Sherpalo Ventures.

Financial Performance of Paymate – Profit & Loss (Figures in crore)

PARTICULARS MAR 2018 MAR 2019 MAR 2020 MAR 2021 MAR 2022
Net Sales 54.86 235.85 216.14 348.40 1,208.80
Total Expenditure 60.57 243.57 240.61 372.94 1,259.82
Operating Profit -5.71 -7.72 -24.47 -24.54 -51.01
Other Income 0.69 0.16 1.19 0.62 0.81
Interest 0.26 0.06 0.34 0.22 0.32
Depreciation 0.27 0.23 1.74 2.29 2.26
Exceptional Items 0 0 0 0 0
Profit Before Tax -5.55 -7.86 -25.37 -26.43 -52.78
Provision for Tax 0 0 0 0 0
Net Profit -5.55 -7.86 -25.37 -26.43 -52.78
Adjusted EPS (Rs.) -17.48 -22.97 -74.16 -75 -0.92

Paymate Balance Sheet (Figures in Crore)

PARTICULARS MAR 2018 MAR 2019 MAR 2020 MAR 2021 MAR 2022
Equity and Liabilities
Share Capital 74.84 82.69 139.10 141.42 189.65
Total Reserves -80.61 -86.35 -102.30 -120.80 -134.93
Borrowings 0 0 0 0 0
Other N/C liabilities 0.32 0.56 0.79 2.46 2.23
Current liabilities 19.04 60.77 5.72 4.04 13.22
Total Liabilities 13.60 57.66 43.31 27.12 70.17
Net Block 0.36 0.58 6.80 6.74 4.77
Capital WIP 0 0 0 0 0
Intangible WIP 0 0 0 0 0
Investments 0 0 0.29 0.29 0.29
Loans & Advances 0 0 4.09 0.38 0.60
Other N/C Assets 0 0 0 0.32 0.04
Current Assets 13.23 57.08 32.13 19.40 64.48
Total Assets 13.60 57.66 43.31 27.12 70.17

Paymate Cash Flows Statement (Figures in crore)

PARTICULARS MAR 2018 MAR 2019 MAR 2020 MAR 2021 MAR 2022
Profit from operations -5.55 -7.86 -25.37 -26.43 -52.78
Adjustment 0.18 0.17 1.02 12.61 28.26
Changes in Assets & Liabilities -1.34 1.39 -13.75 1.54 -24.06
Tax Paid 0 0 0 0.09 -5.28
Operating Cash Flow -7.04 -6.29 -42.19 -12.19 -53.86
Investing Cash Flow -0.09 -0.33 -0.16 5.68 0.59
Financing Cash Flow 7.42 8.97 55.33 -0.51 53.57
Net Cash Flow 0.29 2.34 12.99 -7.02 0.30

PayMate’s revenue from operations increased 61.19 percent from Rs 216.14 crore in Fiscal 2020 to Rs 348.40 crore in Fiscal 2021, primarily due to an increase in the local transaction fees and international transaction fees. Revenue for the nine-month period ended December 2021 stood at Rs 843.44 crore.

In the DRHP, PayMate said that it might go for an anchor round, though it did not divulge the details for the same. Last September, the B2B fintech unicorn raised $100 Mn in a pre-IPO round, becoming a unicorn in the process.

PayMate’s competitors and similar companies include Instamojo, Citrus, Razorpay and Flex.
Ratings & Outlook
Rating – 7 / 10 
PayMate is a multi-payment category platform that incorporates vendor payments, utility payments, and statutory payments and provides its customers fully integrated B2B payment stack.
Paymate share price is likely to be in demand. PayMate is a Visa certified Business Payment Solution Provider (BPSP) and is actively gearing up to offer its B2B payments platform and working capital offerings into other countries in Central Europe, Middle East, and Africa (CEMEA) region in partnership with Visa and local financial institution partners.

The content on this page is made available on the basis of the DRHP (draft red herring prospectus ) filed by Paymate India Limited. The final content could change based on the Red Herring Prospectus (RHP) filed.

News & Updates

PayMate India files IPO papers with Sebi to raise Rs 1,500 crore – 30 May 2022

Leading B2B payments and services provider PayMate India has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO).The initial share-sale comprises fresh issue of equity shares worth Rs 1,125 crore and Offer-for-sale (OFS) of Rs 375 crore by promoters, investors and other shareholders, according to the draft red herring prospectus (DRHP).

ICICI Securities, HSBC Securities and Capital Markets (India) Private Limited, JM Financial and SBI Capital Markets are the book running lead managers to the issue. The equity shares of Paymate Share Price are proposed to be listed on BSE and NSE.

Additionally, the company may consider a private placement of equity shares aggregating up to Rs 225 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from its fresh issuance worth Rs 77 crore will be utilised for investment for expanding business into new geographies, Rs 228 crore for pursuing inorganic initiatives, Rs 688.70 crore for placing cash as collateral with its financial institution partners to improve its margins and general corporate purposes.

Currently, promoter and promoter group holds 66.70 per cent stake in the company and public shareholders own the remaining stake.

PayMate has informed that up to 10% of the offer will be available for allocation to retail-individual bidders. It has earmarked 75% of the offer for qualified institutional buyers, and 15% has been reserved for non-institutional bidders. The equity shares are proposed to be listed on BSE and NSE.

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