BharatPe records first secondary sale since 2021; Gujarat family offices pick up 2.6% stake

Fintech unicorn BharatPe has recorded its first secondary share sale since 2021, with Gujarat-based family offices acquiring a 2.6% stake from the 27% common equity pool through wealthtech platform Wylth. 

Advertisment

The deal marks a rare liquidity event for the New Delhi-headquartered company, which has been navigating governance changes and gearing up for a public listing.

According to the media reports, Ambition Investment Trust picked up 1,700 shares, Cayroz 360One bought 1,473 shares, and Twinroots LLP acquired 1,232 shares, all from Finix Partners. The investment firm, founded by Bhavik Koladiya, a former director and cofounder of BharatPe, sold 4,405 shares from its 27,241-shareholding. The transaction was executed at Rs 4.06 lakh per share, valuing the deal at about Rs 179 crore.

The secondary sale comes against the backdrop of BharatPe’s governance tussles involving its cofounders Ashneer Grover, Koladiya, Shashvat Nakrani, and Madhuri Jain Grover. Now led by CEO Nalin Negi, the company has been rebuilding its leadership team, with recent appointments including Rajesh C as head of finance and Himanshu Nazkani as head of investments.

BharatPe is also preparing for an IPO, which it has targeted for FY27. Negi said earlier this year that the company expects to achieve full-year EBITDA profitability in FY25, paving the way for a listing within 18 to 24 months. The firm is reportedly in talks to raise a pre-IPO round of $80-100 million.

The fintech firm, which operates its own NBFC Trillion Loans alongside partnerships with eight other NBFCs, reported revenue of Rs 1,667 crore in FY25, up from Rs 1,426 crore in FY24. It posted a profit before tax of Rs 6 crore (excluding ESOP costs) in FY25, reversing a net loss of Rs 342 crore in the previous fiscal.

BharatPe has raised more than $650 million in equity and debt from global investors, including Tiger Global, Dragoneer, Steadfast Capital, Coatue Management, and Ribbit Capital.