Vaibhav Vyapaar, an RBI-registered non-banking financial company engaged in digital personal lending, plans to raise ₹42 crore through initial public offering on NSE Emerge.
The price band for the IPO, which opens for subscription on Tuesday, has been fixed at ₹51-₹54 a share.
The company will issue 77.96 lakh equity shares.
The net proceeds from the IPO will be used to augment the capital base of the company and general corporate purposes.
Getfive Advisors will be book running lead manager while Kfin Technologies has been appointed as the Registrar.
Itha Venkata Raghava Gowrinath, Chairman, Managing Director and Promoter, Vaibhav Vyapaar said through the LoanFront app, the company has focused on extending credit access to salaried and self-employed individuals, including first-time borrowers across urban and semi-urban India, with the app crossing 114 lakh downloads and cumulative disbursements of ₹1,500 crore as of June.
The proceeds from the fresh issue will be used primarily to augment capital base, support the loan book growth in line with RBI capital adequacy norms, he added.
As the company enters the public markets, it remains focused on disciplined underwriting, robust risk management, expanding co-lending partnerships and continued investment in technology platform, he said.
Aman Jain, Director, Getfive Advisors said India’s digital lending ecosystem continues to expand, supported by rising smartphone penetration, digital KYC and growing demand for formal credit among underserved borrowers.
Vaibhav Vyapaar (LoanFront) has built a fully digital lending journey on its owned LoanFront platform, combining direct lending, co-lending and platform services to NBFCs, he said.
With an experienced management team, a technology-driven underwriting framework and a growing base of repeat customers, the company is well placed to participate in the long-term growth opportunity in India’s retail credit market, he added.