PayNearby Plans IPO Next Fiscal, Strengthens Digital Naari Initiative

New Delhi, Monday, September 29 – PayNearby, an assisted digital financial and e-commerce services company, is preparing itself a year ahead to launch an initial public offering (IPO) during the next financial year, as it anticipates a faster growth trajectory.

Founder, MD, and CEO Anand Kumar Bajaj stated that the company has already begun the IPO process and is in discussions with three merchant bankers. “We will shortlist a merchant banker pretty soon and then move forward. On finalisation, PayNearby will file the Draft Red Herring Prospectus (DRHP) with Sebi,” he added.

PayNearby Plans IPO Strong FY25 Performance and Hiring Plans

PayNearby concluded FY25 at a gross income of about ₹300 crore and a net income of ₹12 crore. Its Distribution-as-a-Service (DaaS) framework enables retail shops to offer services such as cash withdrawal, money remittance, and bill payment to local communities. It anticipates achieving the current fiscal year’s 10% revenue growth, as well as adding approximately 550-600 workers by year-end to fuel expansion.

PayNearby Plans IPO Digital Naari Driving Women’s Empowerment

The company’s Digital Naari initiative, introduced in early 2024, continues to generate a high socio-economic impact in Tier-2, semi-urban, and rural India. Over 1.5 lakh women, spread across more than 10,000 PIN codes, have been encouraged.

Each Digital Naari operates from home or her Customer Service Point (CSP) and offers primary services in banking, health, insurance, credit, and sanitation. As a group, they conduct ₹10,000 crore transactions annually, of which more than 60% are first-time entrepreneurs. Monthly stipends range from ₹3,500 to ₹5,000, fostering sustainable livelihoods as they support the government’s mission, Lakhpati Didi.

PayNearby Plans IPO Long-Term Vision

In line with the Viksit Bharat 2047 vision plan, PayNearby aims to empower the recruitment of 20 lakh Digital Pradhans and 20 lakh Digital Naaris within the next half-decade. Bajaj emphasized that the scaling exercise would accelerate financial inclusion and digital adoption throughout India’s grassroots levels.

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations