IPO
BharatPe has added another name to the companies preparing to launch IPO (Initial Public Offering). The company’s Chief Executive Officer (CEO) Nalin Negi has said that the company’s revenue is expected to increase by about 30 percent in the financial year 2024-25. The company has targeted to be positive before tax (EBITDA) in this financial year. He also said that the company plans to launch an IPO (initial public offering) in one and a half to two years. BharatPe is also reducing its stake in Unity Small Finance Bank and has hired Rothschild to find potential buyers. Negi said BharatPe is ready for small acquisitions. Companies that add value will be a good fit.
Work continues on necessary compliance for IPO
He said, a lot of fintech (financial technology) companies have started, some are doing well, some not. Some definitely have the edge but don’t have the right financing or resources, we are keeping an eye on those as well. The company is considering launching an IPO in the next one and a half to two years depending on the market conditions. When asked if the company has started working on governance, compliance and financial position in preparation for the IPO, he said the financial position is healthy and the company is completely focused on the control and governance aspects. Negi said, we have invested a lot in our systems and processes in the last one-and-a-half year. However, there is still some work to be done.
Preparation to introduce co-branded credit card
Describing the financial year 2023-24 as an important year for BharatPe, he said that for the first time in October, 2023, the company has estimated the EBITDA (interest, taxes, depreciation and amortization of costs of trademarks, patents and other assets over time). Income before 2010) Profit achieved at the level of income. Negi said, ‘We are looking at a situation of profit at the level of pre-tax income in 2024-25. He said, I hope that in January, we will launch a co-branded credit card and before the end of the financial year, we will also launch a product linked to a loan facility. So while we are focused on driving growth and profitability, we are also making sure there are new products in place to help us grow in the future. Negi said that the growth rate in financial year 2024-25 will be around 30 percent which is lower than 2023-24. But the growth will be higher in 2025-26.
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