IPO Key Dates
| Anchor Investor Subscription | |
| IPO opens on | 6 Nov. 2025 |
| IPO Closes on | 10 Nov. 2025 |
| Allotment on | 11 Nov 2025 |
| Credit of shares on | 12 Nov. 2025 |
| Tentative Listing on | 13 Nov. 2025 |
| Registered office |
| Finbud Financial Services Ltd. No.10, 1st Floor, 6th Main, 9th Cross Jeevan Bhima Nagar Bangalore Urban, Karnataka, 560075 |
| Email: cs@financebuddha.com |
| Lead Manager of the IPO |
| SKI Capital Services ltd |
| Registrar to the IPO |
| Skyline Financial Serivces Pvt ltd |
About its Business:
Incorporated in July 2012, Finbud Financial Services Ltd. is a loan aggregation platform that assists individuals in obtaining personal, business, and home loans from banks and NBFCs across India. The company acts as a bridge between borrowers and lenders by providing a digital platform to compare, apply, and process loans efficiently.
Key Services:
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Offer Comparison: Helps customers evaluate loan offers from multiple lenders.
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Product Recommendation: Suggests the most suitable loan products based on customer profiles.
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Documentation Support: Assists clients throughout the loan documentation process.
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Revenue Model: Earns commission from lenders on successful loan disbursements.
Product Mix:
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Personal Loans: Average ticket size of around Rs. 10 lakh, forming the largest revenue segment.
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Business Loans: Unsecured loans to SMEs averaging Rs. 20 lakh, contributing significantly to income.
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Home Loans: Secured loans for individuals and small businesses for home purchases or mortgages.
As of July 31, 2025, the company employed around 276 people, supporting its growing operations across India.
IPO Details
| IPO opens on | 6 November 2025 |
| IPO closes on | 10 November 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 68,00,000 Shares / Rs 85.00 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 253,000 Shares |
| Net offer to Public | 47.95,000 Shares Rs. 68.09 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 140-142 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1000 Shares |
| Listing will at | NSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
How shares can be applied?
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,000 | ₹2,84,000 |
| Retail (Max) | 2 | 2,000 | ₹2,84,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,26,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,94,000 |
| B-HNI (Min) | 8 | 8,000 | ₹11,36,000 |
The Promoters
The Objects of the IPO
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
| Objects of the Issue | Rs.in crores |
| Working Capital Requirement | 20.9 |
| Investment In Wholly Owned Subsidiary i.e. LTCV Credit Private Limited | 15 |
| Funding for Business Development and Marketing Activities | 17.75 |
| Prepayment or repayment of a portion of certain outstanding borrowings availed by our Company | 4.03 |
| General Corporate Purposes |
Financials Snapshot
| Period Ended | 31-Jul-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 76.12 | 68.93 | 44.97 | 27.47 |
| Total Income | 85.82 | 223.5 | 190.28 | 135.57 |
| Profit After Tax | 3.33 | 8.5 | 5.66 | 1.83 |
| EBITDA | 5.87 | 14.66 | 10.59 | 4.23 |
| NET Worth | 39.31 | 35.98 | 11.79 | 6.13 |
| Reserves and Surplus | 25.31 | 21.98 | 11.77 | 6.12 |
| Total Borrowing | 20.48 | 18.51 | 12.43 | 7.4 |
| Amount in Rs. Crore | ||||
Peer Comparison:
| Company Name | P/E (x) | RoNW (%) |
| Finbud Financial Services | 23.61 | |
| My Mudra Fincorp | 7.79 | 16.87 |
| BLS E-Services | 32.99 | 12.18 |
| PB Fintech | 236.08 | 5.49 |
Key Financial Indicators
| KPI | Values |
| ROE | 23.61% |
| ROCE | 32.11% |
| Debt/Equity | 0.51 |
| RoNW | 23.61% |
| PAT Margin | 3.81% |
| EBITDA Margin | 6.57% |
| Price to Book Value | 5.53 |
| Market Capitalization | 270.5 |
| EPS | 6.04 |
| PE Ratio | 23.07 |
Finbud Financial Services IPO Review
Finbud Financial Services Ltd., a Bengaluru-based loan aggregation platform, is coming out with a book-built IPO of Rs. 71.68 crore, comprising a fresh issue of 0.50 crore equity shares. The issue opens on November 6, 2025, and closes on November 10, 2025, with a tentative listing on the NSE SME on November 13, 2025. The price band is fixed between Rs. 140–Rs. 142 per share, and the minimum application size is 2,000 shares (Rs. 2.84 lakh).
The company acts as a digital intermediary between borrowers and lenders, offering personal, business, and home loan products through its tech-enabled platform. Its revenue primarily comes from commissions earned from banks and NBFCs on disbursed loans.
Financially, Finbud reported FY25 income of Rs. 223.5 crore and PAT of Rs. 8.5 crore, with strong ROE of 23.6% and ROCE of 32.1%, reflecting healthy operational efficiency. The issue is priced at a P/E of 23.07x, which appears moderate compared to other fintech peers like BLS E-Services (P/E 33x) and PB Fintech (P/E 236x). The company plans to utilize the issue proceeds for working capital, subsidiary investment, marketing expansion, and debt repayment.
However, one aspect that merits investor attention is the high trade receivables (Rs. 35.14 crore) and short-term advances (Rs. 13.13 crore) against short-term borrowings of Rs. 15.11 crore as of March 31, 2025 — suggesting additional business activity not clearly detailed in the RHP.
Chanakya View:
While Finbud’s financial growth, margins, and return ratios are attractive, investors should scrutinize its receivables and cash-flow structure before investing. The IPO appears reasonably priced with medium-term listing potential, but requires cautious optimism due to limited clarity on certain balance-sheet components.
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