Belstar Microfinance plans a Rs 1,300 crore IPO with fresh equity shares and OFS. MAJ Invest, Danish asset management firm, and Muthoot Finance s stake highlighted. Proceeds for future capital requirements and reported profit in December 2023.
According to the draft red herring prospectus (DRHP), the initial public offering (IPO) of the Chennai-based company comprises a ₹1,000 crore fresh issue of equity shares and an offer-for-sale (OFS) of ₹300 crore by existing investor shareholders.
Proceeds from the fresh issue worth Rs 760 crore will be used to meet future capital requirements towards onward lending and the remaining amount will be used for general corporate purposes.