Digital lending platform LoanFront’s Rs.42-Cr IPO subscribed 3.23x

The INR 42.10 crore IPO of Bengaluru-based Vaibhav Vyapaar , a non-banking financial company (NBFC) which operates the digital lending platform LoanFront, was subscribed 3.23 times. The non-institutional investor (NII) category recorded the highest demand at 6.65 times, followed by retail investors at 2.70 times. The qualified institutional buyers (QIBs), excluding anchor investors, subscribed 1.61 times. The IPO comprises a fresh issue of 77.96 lakh shares. GetFive Advisors is the book-running lead manager to the issue.LoanFront provides unsecured personal loans ranging from INR 1,500 to INR 2,00,000 through a digital app.