What does Vivriti Capital do?

Vivriti Capital is a Chennai-based NBFC that provides debt financing to mid-market businesses in India — companies that are typically too large for microfinance but lack easy access to large corporate bank loans. The company offers structured credit, working capital financing, and term loans. It is also associated with the Yubi (formerly CredAvenue) debt marketplace platform.

Who are the key investors in Vivriti Capital?

Vivriti Capital has received investments from institutional investors including Lightrock (formerly LGT Impact), Creation Investments Capital Management, Triodos Investment Management, and other impact-focused and growth equity investors who back financial inclusion and mid-market lending businesses.

What is the relationship between Vivriti Capital and Yubi (CredAvenue)?

Vivriti Capital is the parent or associated entity of CredAvenue (now rebranded as Yubi), a digital debt marketplace platform that connects borrowers with lenders. While Vivriti Capital operates as an NBFC lender, Yubi functions as a marketplace and technology platform. Both entities are part of the broader Vivriti group ecosystem.

When was Vivriti Capital incorporated?

Vivriti Capital Limited was incorporated in 2017 and is registered with the Registrar of Companies in Chennai, Tamil Nadu (CIN: U65929TN2017PLC117196).

Is Vivriti Capital planning an IPO?

As of mid-2025, Vivriti Capital had not publicly announced a confirmed IPO timeline. The company has been growing its AUM and institutional investor base, which could lay the groundwork for a future public listing, but no formal DRHP had been filed with SEBI as of the last available information.

How do I buy Vivriti Capital unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Vivriti Capital?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Vivriti Capital shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Vivriti Capital Unlisted Share Price | Buy Vivriti Capital Pre-IPO Shares — wisefolio

Investment Thesis

Vivriti Capital is one of India's most prominent fintech NBFCs, having achieved unicorn status with a $1.7B valuation and ₹10,868 Cr in managed assets as of FY25. The company has demonstrated strong and consistent profitability (PAT ₹220 Cr in FY25) while serving India's underserved mid-market enterprise segment across 55+ sectors. The major structural risk near-term is the April 2026 NCLT-sanctioned demerger, which transfers the NBFC business to a new entity (HCIMPL), making careful tracking of the post-restructuring entity essential for investors.

Pros

Unicorn status with valuation of ₹14,100 Cr (~$1.7B) as of 2023–24; strong investor backing from TVS Capital, Creation Investments, Lightrock
AUM of ₹10,868 Cr (FY25) growing at a 5-year CAGR of 56%, demonstrating rapid and sustainable scaling
Strong PAT of ₹220 Cr in FY25 (up from ₹191 Cr in FY24) with ROA of ~2.2–2.3%, in line with well-managed NBFCs
First private-sector NBFC to issue a certified climate bond (₹209 Cr) with Asian Development Bank — strong ESG credentials
Diversified lending across 55+ sectors including healthcare, manufacturing, renewables, EV, logistics, SaaS — reduces concentration risk
Subsidiary Vivriti Asset Management manages ₹3,909 Cr across 8 funds — creates a diversified financial services platform

Cons

Major corporate restructuring underway (NCLT-approved scheme effective April 2026) — NBFC business transferring to HCIMPL, creating transition risk
Unlisted company; limited liquidity for investors despite unicorn valuation
Operates in mid-market lending which is inherently riskier than retail; NPA risk from SME/mid-market borrowers
Revenue growth moderated in FY25 (AUM grew only 15% vs historical 56% CAGR) — early signs of growth deceleration
Highly competitive NBFC landscape with banks, larger NBFCs, and fintech lenders all targeting mid-market segment

Business Segments

Mid-Market Enterprise Lending (Term Loans, Working Capital)

Supply Chain Finance

Co-lending / Partnership Arrangements

Leasing and Factoring

Asset Management (Vivriti Asset Management — 8 funds, ₹3,909 Cr AUM)

Financial Services Technology Platform (CredAvenue)

Revenue Model

Vivriti Capital earns net interest income (NII) from its NBFC lending book — the spread between its cost of funds and interest charged to mid-market borrowers. Additionally, the associated Yubi platform earns fee-based income from marketplace transactions, connecting debt issuers with investors.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds8

Growth Plans

India's mid-market credit gap estimated at ₹20-25 lakh crore provides a massive addressable market for structured credit products

Growing institutional comfort with the debt marketplace model could accelerate transaction volumes on the Yubi platform

Potential IPO of Yubi or Vivriti Capital could unlock significant value for early investors

Industry Tailwinds

Recent Developments

FY2025: Reported PAT of ₹220 Cr on AUM of ₹10,868 Cr — strongest profitability to date

April 2026: NBFC business of VCL officially transferred to Hari and Company Investments Madras Pvt Ltd (HCIMPL) as part of demerger scheme

Vivriti Asset Management managing 8 funds with combined AUM of ₹3,909 Cr as of March 2025

Comparable Companies

CompanyTypeTickerMkt Cap

Five-Star Business FinancePE: 25xxListedFIVESTAR15000 Cr

Ugro CapitalListedUGROCAP2000 Cr

Northern Arc CapitalListedNORTHARC3500 Cr

Five-Star Business FinanceListed

FIVESTAR · 15000 Cr

PE: 25xx

Frequently Asked Questions

About Vivriti Capital

Vivriti Capital Limited is a Chennai-headquartered fintech non-banking financial company (NBFC) incorporated in June 2017 by Vineet Sukumar and Gaurav Kumar. Registered as a non-deposit taking systemically important NBFC (NBFC-ND-SI) by the RBI, Vivriti Capital provides diverse debt financing solutions to mid-market enterprises across manufacturing, infrastructure, and financial services sectors. The company occupies a unique position in India's credit ecosystem by focusing on the institutional enterprise credit segment — providing loans, working capital finance, and trade finance to mid-market companies that are too large for microfinance but too small for direct capital market access. Its AUM reached Rs. 8,071 crore as of March 2024, up from Rs. 5,836 crore in March 2023, reflecting a 5-year CAGR of 72%. For FY2024, Vivriti Capital reported revenues of Rs. 1,110 crore. ICRA upgraded its rating to [ICRA]A+ (Stable) in June 2024, reflecting the company's improving scale, adequate capitalisation (CRAR of 21.3%), and profitability improvement (PAT/AMA of 2.3% in FY2024). The company raised Rs. 1,399 crore in equity capital since incorporation, including Rs. 100 crore from TVS Shriram Growth Fund in FY2024. Vivriti Capital's portfolio composition as of March 2024 spans financial service entities (38%), co-lending/partnership arrangements (36%), non-financial enterprise finance (21%), and supply chain/leasing/factoring (5%). This diversified portfolio reduces concentration risk relative to sector-specific lenders. Importantly, the National Company Law Tribunal (NCLT), Chennai, sanctioned a Composite Scheme of Arrangement among Vivriti Capital and related entities, with an Effective Date of April 1, 2026, under which the NBFC business will be transferred to Hari and Company Investments Madras Private Limited. This structural reorganisation may impact the company's standalone operations and investor considerations. Vivriti Capital also operates Vivriti Asset Management, its asset management arm that manages fixed income funds for institutional investors.

Key Milestones

Common questions about unlisted shares

How do I buy Vivriti Capital unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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