Scripbox shareholders approve conversion to a public company as IPO plans firm up

Bengaluru wealthtech platform Scripbox has secured shareholder approval to convert from a private limited company into a public limited company, a required step before any stock market listing. The Economic Times and an Entrackr exclusive, both citing regulatory filings, say an extraordinary general meeting on 19 October 2026 approved changing the legal name from Scripbox Wealth Managers Private Limited to Scripbox Wealth Managers Limited and amending constitutional documents.

ET reported that the company intends to list through a fresh issue and/or an offer for sale by existing shareholders, with timing still subject to investment bankers and regulatory approvals. No IPO size or valuation has been disclosed. Shareholders also approved splitting each Rs 10 face value equity share into five Rs 2 shares and appointing Kishore Mukund Saletore and Anjali Sosale as independent directors.

Founded in 2012 by Atul Shinghal and Sanjiv Singhal, Scripbox offers mutual funds, portfolio management, advisory services, fixed deposits and international equities. ET says the firm manages more than Rs 20,000 crore across distribution, PMS and advisory. In June it acquired the mutual fund distribution business of Delhi based Bluechip Capital. For FY25, both ET and Entrackr cite operating revenue of about Rs 107.2 crore, up 27% year on year, and a net profit of Rs 12.7 crore.

A November 2 filing showed Scripbox raised Rs 15 crore in non convertible debentures from Stride Ventures, ET noted. Earlier board approvals covered raising up to Rs 170 crore through a mix of equity linked instruments and debt, Entrackr first reported. Equity funding names cited across the two outlets include Accel, Omidyar Network and Nippon Life. The conversion is not itself a listing. It clears the legal path while FY26 results, a draft prospectus and pricing remain ahead.