Finance Buddha Set to Fly with IPO Backed by MS Dhoni

Finbud Financial Services, a prominent phygital lending enabler supported by MS Dhoni, has garnered in-principle approval from NSE Emerge to launch a Small and Medium Enterprises (SME) initial public offering (IPO). The company aims to float 50.48 lakh equity shares bearing a face value of Rs 10 each, as stated in its draft red herring prospectus submitted earlier this year.

The proceeds from this IPO will be channeled towards Finbud's working capital requirements, investments in subsidiary LTCV Credit Pvt Ltd, business development and marketing strategies, and debt repayment. Additionally, the remaining funds will cater to general corporate purposes.

Established in 2012 by Vivek Bhatia, Parth Pande, and Parag Agarwal, Finbud is headquartered in Bengaluru and boasts notable investors like Ashish Kacholia, MS Dhoni's Family Office, and Shankar V, founder of CAMS. As the IPO approaches, the company remains committed to advancing financial discipline, expanding market presence, and fortifying consumer trust, spearheaded by Co-founder Parag Agarwal.

(With inputs from agencies.)