Fincare Small Finance Bank files for IPO, plans to raise Rs 1,330 crore
The IPO of Bengaluru-based microfinance company comprises a fresh issue of Rs 330 crore by the bank and an offer for sale of Rs 1,000 crore by promoter Fincare Business Services
BusinessToday.In | May 10, 2021 | Updated 18:20 IST
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Fincare Small Finance Bank has filed draft papers for its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). It plans to raise Rs 1,330 crore from the primary market.
The IPO of Bengaluru-based microfinance company comprises a fresh issue of Rs 330 crore by the bank and an offer for sale of Rs 1,000 crore by promoter Fincare Business Services.
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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.
Nuvoco Vistas has cement plants across Chhattisgarh, Rajasthan, Haryana and West Bengal
Nuvoco Vistas Corporation, the cement arm of the Nirma Group, has filed its DRHP (draft red herring prospectus) with SEBI for a Rs 5,000 crore initial public offer (IPO). This is a significant development for the cement sector as Burnpur Cement was the last cement listing on the Indian bourses way back in November 2007.
Nirma was de-listed from the stock exchanges nine years ago, although it continues to be a household detergent brand across the country.
Nuvoco Vista IPO will consist of a fresh issue of shares worth up to Rs 1,500 crore and an offer for sale amounting to Rs 3,500 crore.