In a strategic move that signals its readiness to enter the public markets, SaaS startup NoPaperForms, popularly known as Meritto, has officially transitioned into a public limited company. Backed by tech investment giant Info Edge, the company has changed its name from NoPaperForms Solutions Private Limited to NoPaperForms Solutions Limited, a key step in the lead-up to an initial public offering (IPO).
As per regulatory filings accessed by Inc42, the company’s board of directors approved the conversion in a meeting held on May 22, 2025. Following this, the shareholders gave their approval during an extraordinary general meeting (EGM) on May 26, paving the way for the removal of “Private” from its name. This conversion marks a critical legal and strategic milestone for NoPaperForms, as becoming a public entity is a necessary prerequisite for companies aiming to list on Indian stock exchanges.
NoPaperForms, or Meritto, has been actively laying the groundwork for its IPO over the past few months. In March 2025, reports surfaced indicating that the company had appointed IIFL Capital and SBI Capital as the lead managers for its upcoming public issue. These firms are expected to guide Meritto through the regulatory, financial, and market-related intricacies of launching a successful IPO.
Founded as a SaaS-based enrollment and marketing automation platform, Meritto has carved out a strong presence in the edtech and admissions tech space. The platform offers solutions that streamline student acquisition, enrollment, and retention for educational institutions, making it a crucial player in the digital transformation of education operations.
The company’s rebranding and transformation into a public entity come at a time when the Indian startup ecosystem is witnessing a renewed IPO fervour. Several tech startups, spurred by strong investor interest and favourable market conditions, are making their way to the stock exchanges. This wave of IPOs marks a new chapter for India’s digital economy, with high-growth tech companies seeking public capital to fuel expansion and innovation.
Meritto’s move reflects its maturity as a business and its readiness to meet the rigorous compliance and transparency standards of a publicly traded firm. With Info Edge, one of India’s most prolific tech investors, as a backer, the startup enjoys credibility and market confidence, which will likely play a significant role in its IPO journey.
In conclusion, the transformation of NoPaperForms into a public limited company is a clear signal of its IPO ambitions. With a robust product offering, solid investor backing, and a growing market for education-focused SaaS solutions, Meritto is well-positioned to capitalise on public markets. As the Indian startup ecosystem continues to evolve, Meritto’s IPO journey will be one to watch closely.
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