M S Dhoni-backed Finbud Financial Services, a phygital lending enabler, on Friday said it has fixed a price band of Rs 140-142 per share for the Rs 71.6 crore initial share sale.
The initial public offering (IPO) will open for subscription on November 6 and close on November 10. Bidding for anchor investors will open for a day on November 4, Finbud Financial Services said in a statement.
The IPO is entirely a fresh issue of 50.48 lakh equity shares, aggregating to Rs 71.68 crore at the upper end of the price band.
Proceeds from the issue will be used by the company towards working capital requirements, investment in subsidiary LTCV Credit Pvt Ltd, funding for business development and marketing activities and repayment of debt.
The balance will be utilised towards general corporate purposes.
"As we enter the public markets, our focus remains on scaling responsibly, strengthening governance, and creating long-term value for our customers, partners, and investors," Parag Agarwal, Co-founder, Finance Buddha, said.
Bengaluru-based Finbud Financial Services, the parent company of Finance Buddha, was founded in 2012 by Vivek Bhatia, Parth Pande and Parag Agarwal.
Vivek Bhatia, Co-founder, Finance Buddha, said, "The focus is on deepening this impact, expanding our presence across emerging markets, strengthening our agent network, and continuing to deliver credit solutions that combine speed, simplicity, and trust." The firm counts noted investor Ashish Kacholia, the M S Dhoni Family Office and Shankar V, founder of CAMS, among its backers, underlining confidence in its technology-enabled, high-trust approach to retail credit.
On the financial front, Finbud reported a total income of Rs 223 crore and profit after tax of Rs 8.5 crore in FY25.
The company's shares will list on the NSE's Emerge platform with a tentative listing date fixed on November 13.
SKI Capital Services is the sole book running lead manager and Skyline Financial Services is the registrar of the issue.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
