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.
Motilal Oswal PE buys minority stake in Fincare Small Finance Bank for about ₹185 crore
May 03, 2021
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The deal provides partial exit to True North Fund V LLP, one of the key investors in the firm
Motilal Oswal Private Equity (MOPE) has picked up a minority stake in Fincare Small Finance Bank for $25 million (about ₹185 crore) through a secondary acquisition. The deal provides partial exit to True North Fund V LLP, one of the key investors in the firm.
The deal was done by India Business Excellence Fund–III, a fund managed and advised by MOPE, it said in a statement.
Vishal Tulsyan, Managing Director and CEO of MOPE, said: “Over the past decade microfinance has established itself as an asset class with potential for high growth and profitability. Based on our assessment, a small finance bank is the best platform to capitalise on this opportunity.”
Read more about Motilal Oswal s real estate arm to raise Rs 800 crore via fifth fund on Business Standard. The fund has been set up as an alternate investment fund, firm expects to achieve first close by March and conclude fundraising in the next 6-9 months
Motilal Oswal Real Estate plans to raise up to Rs 800 crore via fifth Realty Excellence Fund
IREF V to focus on construction finance in post-approval projects; Fund plans to deploy the capital in mid-income/ affordable residential projects across the top 7 cities in India
Motilal Oswal Real Estate (MORE), the real estate private equity arm of Motilal Oswal Financial Services, is looking to raise up to Rs 800 crore through its recently-launched fifth real estate fund India Realty Excellence Fund V (IREF V).
While the earlier three funds (IREF II, IREF III and IREF IV) focused on early-stage investments, IREF V would focus on construction finance in post-approval projects.