Finance Buddha Secures NSE Emerge Approval for SME IPO Launch
Finance Buddha, operating as Finbud Financial Services Ltd, has obtained in-principle approval from NSE Emerge for its SME IPO. Founded in 2012, the company is a phygital lending enabler with an agent-led marketplace and digital platform. It offers personal, business, and home loans across 30+ states and UTs in India, covering over 19,000 pincodes. Notable investors include Ashish Kacholia, MS Dhoni Family Office, and Shankar V. This approval marks a significant step towards the company's public offering.
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Finance Buddha, operating under the name Finbud Financial Services Ltd, has achieved a significant milestone in its journey towards going public. The company has received in-principle approval from NSE Emerge to launch its Small and Medium Enterprise (SME) Initial Public Offering (IPO).
Company Background
Founded in 2012 by Vivek Bhatia, Parth Pande, and Parag Agarwal, Finance Buddha has established itself as a phygital lending enabler. The company operates a retail credit marketplace catering to individuals and small businesses across more than 30 states and union territories in India, covering over 19,000 pincodes.
Business Model
Finance Buddha's business model combines two key elements:
- An agent-led marketplace
- A digital platform
This hybrid approach allows customers to compare and secure various types of loans, including:
- Personal loans
- Business loans
- Home loans
The company utilizes a proprietary rules engine and an advisory-driven approach to facilitate these services.
Notable Investors
Finance Buddha has attracted investments from several high-profile individuals and entities:
- Ashish Kacholia, a renowned stock market investor
- MS Dhoni Family Office, associated with the former Indian cricket team captain
- Shankar V, another notable investor
Market Reach
The company's extensive reach across India is evident from its presence in:
- Over 30 states and union territories
- More than 19,000 pincodes
This wide coverage demonstrates Finance Buddha's commitment to serving a diverse range of customers across the country.
IPO Prospects
With the in-principle approval from NSE Emerge, Finance Buddha is now poised to move forward with its SME IPO. This development marks a crucial step in the company's growth trajectory and could potentially provide it with the capital needed for further expansion and development of its phygital lending platform.
The approval from NSE Emerge underscores the potential that the exchange sees in Finance Buddha's business model and growth prospects. As the company prepares for its public offering, investors and market watchers will likely keep a close eye on this emerging player in the fintech space.
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