Scripbox has begun converting into a public limited company as it prepares for a possible IPO. The Bengaluru-based wealthtech startup approved a name change from Scripbox Wealth Managers Private Limited to Scripbox Wealth Managers Limited. The proposed offering would include fresh equity shares and an offer for sale by existing shareholders.
Earlier fundraising plans
The company had earlier planned to raise up to ₹170 crore through debt and equity. The equity portion includes up to ₹60 crore through shares, preference shares, and convertible instruments. The debt portion includes up to ₹110 crore from banks and NBFCs.
Company roots
Scripbox was founded in 2012 by Atul Shinghal and Sanjiv Singhal. Its backers include Accel, LetsVenture, and DMI. The company operates a digital wealth management platform for retail investors.
What the platform offers
Users can invest in mutual funds, fixed deposits, US stocks, ETFs, and the National Pension System. Scripbox also provides financial planning, portfolio management, and investment advisory services. The platform serves retail investors who want digital wealth management options.
Scripbox turned profitable in FY25 with a net profit of ₹12.7 crore. Operating revenue rose 27% year-on-year to ₹107.2 crore. Operating expenses fell 29% to ₹95.8 crore.
Read more: entrackr.com