Fincare Small Finance Bank gets Sebi s go ahead to raise Rs 1,330-cr via IPO freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
Fincare Small Finance Bank files IPO documents to market regulator SEBI
Fincare Small Finance Bank has filed preliminary papers for a planned Rs 1,330 crore initial public offering (IPO) with capital market regulator SEBI.
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NEW DELHI: Fincare Small Finance Bank has filed preliminary papers for a planned Rs 1,330 crore initial public offering (IPO) with capital market regulator SEBI.
The IPO comprises a fresh issue of equity shares of the bank worth 1330 crore and an offer for sale aggregating up to Rs 1,000 crore by the promoter entity Fincare Business Services Limited, according to the Draft Red Herring Prospectus (DRHP) filed by the company.
Fincare Small Finance Bank files Rs 1,330 Cr IPO papers with Sebi yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
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Highlights
The initial public offer (IPO) comprises fresh issue of equity share of the bank worth Rs 330 crore
The bank would utilise net proceeds from the fresh issue towards augmenting its Tier-1 capital base.
A small portion of the proceeds will be used towards meeting the expenses in relation to the offer.
New Delhi, May 9 (PTI) Digital lender Fincare Small Finance Bank has filed preliminary papers with capital market regulator Sebi to raise Rs 1,330 crore through an initial share-sale.
The initial public offer (IPO) comprises fresh issue of equity share of the bank worth Rs 330 crore and an offer for sale aggregating up to Rs 1,000 crore by promoter Fincare Business Services Limited, according to the Draft Red Herring Prospectus (DRHP).
India: Fincare Small Finance Bank files draft papers for $182m IPO
Photo by Micheile Henderson on Unsplash
May 9, 2021
Fincare Small Finance Bank (Fincare SFB) on Sunday filed a draft red herring prospectus with the markets regulator Securities Exchange Board of India to raise ₹1,330 crore via an initial public offering (IPO).
Fincare is a “digital-first” SFB with a focus on unbanked and under-banked customers, especially in rural and semi-urban areas.
The IPO comprises a fresh issue of ₹330 crore and an offer for sale of ₹1,000 crore by the bank’s promoter entity Fincare Business Services Ltd. Fincare Business holds 78.57% stake in the bank.