BharatPe, the fintech unicorn from New Delhi, has recorded its first secondary share sale since 2021. Gujarat-based family offices acquired a 2.6% stake from BharatPe’s common equity pool through the wealthtech platform Wylth. This deal marks a rare liquidity event for the company as it prepares for its upcoming IPO planned for FY27.
Details of the Secondary Sale
The secondary sale involved Ambition Investment Trust, Cayroz 360One, and Twinroots LLP picking up shares previously held by Finix Partners. Finix Partners, an investment firm co-founded by former BharatPe director Bhavik Koladiya, sold 4,405 shares at Rs 4.06 lakh per share. The transaction was valued at around Rs 179 crore.
Governance Changes and Leadership
This secondary transaction comes at a time when BharatPe has been navigating governance challenges involving its cofounders. The company, now led by CEO Nalin Negi, is strengthening its leadership with key appointments like Rajesh C as the head of finance and Himanshu Nazkani as head of investments.
Strong Financial Turnaround
FY25 was a milestone year for BharatPe as it achieved profitability with a profit before tax of Rs 6 crore, reversing a net loss of Rs 342 crore in FY24. Its revenue increased to Rs 1,667 crore, up from Rs 1,426 crore the year before. This turnaround is helped by BharatPe’s lending arm, Trillion Loans, and partnerships with other NBFCs, focusing on SME lending with controlled risks.
Preparing for IPO
BharatPe aims to go public by FY27. CEO Nalin Negi has shared that the company expects full-year EBITDA profitability in FY25, paving the path for an IPO within 18 to 24 months. BharatPe is also in talks for a pre-IPO funding round seeking $80-100 million to strengthen its finances ahead of the listing.
