PT Super Bank Indonesia, better known as Superbank − a digital bank under PT Elang Mahkota Teknologi (Emtek Group) − is reportedly preparing to go public on the Indonesia Stock Exchange (IDX) through an initial public offering (IPO) following plans for an investor education meeting in mid-October 2025.

According to a note shared by Stockbit Sekuritas, the event will serve as an opportunity for Superbank to gauge investor interest in the upcoming IPO. The digital bank, affiliated with Emtek and Grab, is expected to allocate the majority of the IPO proceeds for credit expansion and digital infrastructure development.

“About 70 percent of the IPO proceeds will be used as working capital for loan disbursement, while the remainder will go toward capital expenditures, including system and IT product development,” Stockbit reported while quoting Bloomberg on Tuesday, October 7, 2025. The report also mentioned that CLSA Sekuritas will act as joint global coordinator, alongside Mandiri Sekuritas as underwriter.

When asked for confirmation, Superbank’s spokesperson declined to comment on “market rumors or speculation.”

“Our focus remains on maintaining strong performance through innovative financial solutions, expanding our customer base, and collaborating with trusted ecosystems to promote inclusive growth in Indonesia,” the spokesperson told Katadata.co.id on Tuesday, October 7, 2025.

Based on company data, Superbank’s current shareholding structure includes Elang Mahkota Teknologi (through PT Elang Media Visitama) with 31.11 percent, Grab (via PT Kudo Teknologi Indonesia) with 19.16 percent, A5–DB Holdings with 11.52 percent, GXS Bank with 12 percent, KakaoBank with 9.95 percent, and Singtel Alpha Investments with 8.46 percent.

Emtek Group’s shares (EMTK) have rallied strongly amid market excitement surrounding Superbank’s rumored IPO. EMTK’s stock rose as much as 26 percent in intraday trading on Thursday, October 2, 2025, reaching Rp1,550 per share.

Screenshots circulating on social media showed that Superbank − listed under the ticker BSPR − could conduct a book-building period from October 10 to 13, 2025, offering shares at Rp250–Rp300 each. The IPO is expected to raise between US$200 million and US$300 million (Rp3.25 trillion–Rp4.88 trillion), with a potential valuation of US$1.5 billion–US$2 billion.

A total of 35.88 million lots, representing 20.05 percent of the company’s shares, are reportedly being offered. The same screenshots identified Henan Putihrai Sekuritas as one of the underwriters, although the firm has denied the information through its official channel.

Despite clarification from IDX’s Director of Corporate Valuation, I Gede Nyoman Yetna, who stated that no official IPO filing had been received, investors remain enthusiastic − further boosting EMTK’s share price.

In the first half of 2025, Superbank reported a net profit of Rp20 billion, a sharp turnaround from a Rp188 billion loss in the same period last year. The digital bank recorded a 123 percent year-on-year increase in total loans to Rp8.4 trillion.

At a July 2025 press conference, Superbank President Director Tigor M. Siahaan revealed that the bank now serves over four million customers − up from fewer than one million when it operated as Bank Fama International.

“Through deep integration with ecosystems such as Grab and OVO, we have built credibility, accelerated adoption, and simplified banking experiences in users’ daily lives,” Tigor said in a statement on July 31, 2025.

Superbank’s total assets have surged 122 percent year-on-year to Rp15 trillion, supported by a 237 percent increase in gross interest income to Rp904.7 billion. Net interest income grew 171 percent to Rp667.6 billion, pushing its net interest margin (NIM) to 10.2 percent from 8.1 percent a year earlier.

Formerly known as PT Bank Fama International, the institution was established in Bandung in 1993. It officially rebranded to Superbank and relocated its headquarters to Jakarta in early 2023 as part of its transformation into a fully digital bank.

Superbank is part of a consortium comprising Emtek Group (via PT Elang Media Visitama), Grab, Singtel, KakaoBank, and A5-DB Holdings − with Emtek remaining the largest shareholder.

As competition heats up in Indonesia’s digital banking sector, Superbank has continued to strengthen its market presence through a range of innovative products and services.