The West Bengal-based non-banking financial company (NBFC) aims to raise Rs 42.1 crore through the IPO at the upper end of the price band of Rs 51-54 per share. The public issue comprises a fresh issue of 77.96 lakh shares.
Of the total issue, the company has already raised Rs 11.88 crore by allotting 22 lakh shares to five institutional investors through the anchor book. The investors include Getfive Opportunity Fund, Tiger Strategies Fund, Moneywise Financial Services, Invicta Continuum Fund, and SB Opportunities Fund.
Investors placed bids for 1.72 crore equity shares against the 55.96 lakh shares on offer, through 2,293 applications during the last three days from October 13.
Vaibhav Vyapaar is expected to finalise the IPO share allotment by October 16, with the company’s shares scheduled to list on the NSE Emerge platform on October 21.
The company provides unsecured personal loans to salaried and self-employed individuals through its digital lending platform, LoanFront. It plans to use Rs 32 crore of the net IPO proceeds to augment its capital base, with the remaining funds earmarked for general corporate purposes.