Bengaluru-based wealth management platform Scripbox has secured shareholder approval to convert into a public limited company, marking another important step in its preparations for a potential initial public offering (IPO). The decision allows the company to change its legal name from Scripbox Wealth Managers Private Limited to Scripbox Wealth Managers Limited, following an extraordinary general meeting held on October 19, 2026.
The development comes as Scripbox looks to access public capital markets after reporting profitability in FY25 and expanding its wealth management business through acquisitions. The company has indicated that its proposed IPO could involve both a fresh issue of shares and an offer for sale by existing shareholders. However, it has not disclosed the issue size, valuation or listing date, meaning the public-market debut remains a plan rather than a confirmed transaction.
Shareholders Approve Corporate Conversion
According to regulatory filings reviewed by The Economic Times, Scripbox shareholders approved the conversion into a public limited company at an extraordinary general meeting on October 19.
The resolution includes changing the company’s name and amending its constitutional documents to reflect its new corporate status.
Shareholders also approved splitting each existing equity share with a face value of ₹10 into five shares with a face value of ₹2 each. Such a subdivision increases the number of shares while proportionately reducing their face value; it does not, by itself, change the company’s overall valuation or the economic ownership of shareholders.
The company also received approval to appoint Kishore Mukund Saletore and Anjali Sosale as independent directors.
These changes are part of the corporate preparation commonly undertaken by private companies considering a public listing. Conversion into a public limited company does not automatically mean that an IPO has been approved by market regulators or that shares will begin trading.
Scripbox Plans Fresh Issue and Offer for Sale
Scripbox has said that it intends to pursue a public listing through a combination of a fresh issue of equity shares and an offer for sale (OFS) by existing shareholders.
The two components serve different purposes:
- Fresh issue: The company issues new shares to investors and receives the proceeds. The funds can support expansion, technology investments, acquisitions and other corporate requirements.
- Offer for sale: Existing shareholders sell some of their shares to public investors. The proceeds generally go to the selling shareholders rather than the company.
Scripbox has not yet announced how much capital it intends to raise through either component.
The timing of the proposed IPO will be decided in consultation with investment bankers and will remain subject to regulatory approvals.
This means investors should not interpret the shareholder resolution as confirmation of an imminent listing. The company still needs to complete the relevant preparations and regulatory processes before an offering can take place.
Scripbox’s Financial Performance Improves in FY25
One of the important factors behind Scripbox’s IPO preparations is its return to profitability.
For FY25, the company reported operating revenue of ₹107.2 crore, representing 27% growth compared with the previous financial year. Its net profit stood at ₹12.7 crore.
| Financial metric | FY25 |
|---|---|
| Operating revenue | ₹107.2 crore |
| Revenue growth | 27% year-on-year |
| Net profit | ₹12.7 crore |
| Assets under management | More than ₹20,000 crore |
The profitability milestone is significant for a wealthtech company operating in a competitive market where customer acquisition, technology development and distribution costs can put pressure on margins.
The company has not yet disclosed its FY26 financial results in the latest reporting.
Scripbox’s financial performance will be an important consideration for prospective public-market investors, particularly as they assess the sustainability of its earnings, revenue growth and ability to expand its assets under management.
Company Manages More Than ₹20,000 Crore in Assets
Founded in 2012 by Atul Shinghal and Sanjiv Singhal, Scripbox provides digital wealth management and investment services.
Its offerings include mutual funds, fixed deposits, international equities, portfolio management, financial planning and investment advisory services.
The company says it manages more than ₹20,000 crore in assets across its distribution, portfolio management and advisory businesses.
Scripbox has raised approximately $59 million in equity funding from investors including Accel, Omidyar Network and Nippon Life Insurance, according to The Economic Times.
Its business model combines digital investment services with financial advice and wealth management solutions. This allows it to serve customers looking for both self-directed investment products and professional assistance with managing their finances.
Bluechip Capital Acquisition Expands Scripbox’s Reach
Scripbox has also been expanding through acquisitions.
In June 2026, the company acquired the mutual fund distribution business of Delhi-based Bluechip Capital. The transaction brought Bluechip’s clients and employees into Scripbox’s business.
Bluechip Capital had more than three decades of experience in wealth management and managed over ₹1,000 crore in assets, according to comments made by Scripbox CEO Atul Shinghal to The Economic Times.
The acquisition gives Scripbox an opportunity to expand its customer base and strengthen its distribution business.
For wealth management platforms, acquiring an established advisory or distribution business can provide access to existing client relationships and assets more quickly than relying entirely on organic customer acquisition.
However, the long-term benefits will depend on retaining clients, integrating operations and maintaining service quality.
Fresh Fundraising Activity Ahead of the IPO
Scripbox has also been preparing its balance sheet through additional fundraising.
A November 2 regulatory filing showed that the company raised ₹15 crore through non-convertible debentures from venture debt firm Stride Ventures.
Earlier in 2026, Scripbox had approved plans to raise up to ₹170 crore through a combination of equity-linked instruments and debt.
The proposed fundraising included up to ₹60 crore through equity shares, preference shares and convertible instruments, alongside debt facilities of up to ₹110 crore.
These financing plans provide context for the company’s broader capital strategy, although the proposed fundraising approvals should not be confused with the amount actually raised.
The company has not disclosed the valuation or final structure of its planned IPO.
The Bigger Picture
Scripbox’s move comes as India’s wealthtech industry competes for a larger share of household savings and investment activity.
The mutual fund industry has continued to expand, creating opportunities for digital platforms, investment advisers and wealth managers. According to the Association of Mutual Funds in India, the industry’s assets under management stood at ₹82.64 lakh crore at the end of September 2026.
The sector is also becoming more competitive as digital investment platforms seek to attract retail investors through lower-cost products, technology-driven services and personalised financial advice.
Scripbox’s proposed listing would add another wealth management business to India’s public-market pipeline. Its profitability, assets under management and acquisition-led expansion will be important elements of the investment story.
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