Dhoni-Backed Finbud Launches Ambitious IPO To Power Growth

Finbud Financial Services, with backing from M S Dhoni, sets a price band for its Rs 71.6 crore IPO. The public offering opens on November 6, aiming to fund business development, debt repayment, and other corporate purposes. Notable backers include Ashish Kacholia and Shankar V.

Finbud Financial Services, a phygital lending enabler backed by cricket legend M S Dhoni, has set a price band of Rs 140-142 per share for its ambitious Rs 71.6 crore initial public offering (IPO). The offer, comprising entirely of fresh equity shares, will open for subscription on November 6 and close on November 10, with a special bidding session for anchor investors scheduled for November 4.

The proceeds are earmarked for vital business needs including working capital, subsidiary investment in LTCV Credit Pvt Ltd, business development, marketing, and debt repayment, with the remainder set aside for general corporate purposes. Parag Agarwal, Co-founder of Finance Buddha, emphasized the company's focus on scaling responsibly and creating value for all stakeholders.

Bengaluru-based Finbud, founded by Vivek Bhatia, Parth Pande, and Parag Agarwal in 2012, is riding high on endorsements from investors like the M S Dhoni Family Office, Ashish Kacholia, and Shankar V. The firm's shares will list on the NSE's Emerge platform, tentatively on November 13, with SKI Capital Services as the sole book running lead manager and Skyline Financial Services as the registrar.