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Fincare Small Finance Bank files Rs 1,330-cr IPO papers with Sebi


Source:
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). ....

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Tamilnad Mercantile planning IPO in Q3


Tamilnad Mercantile planning IPO in Q3
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Synopsis
Tamilnad Mercantile made a net profit of Rs 181 crore in the quarter ended March 2021 from Rs 164 crore a year earlier, a growth of 10%.
Net interest income, the core income a bank earns from loans, increased 8% to Rs 375 crore in March 2021 from Rs 346 crore a year earlier.
Related
MUMBAI: 99-year-old Tamilnad Mercantile Bank (TMB) could become the latest bank to be listed on the local exchanges as it is planning a Rs 1,000 crore to Rs 1,300 crore initial public offer (IPO) later this fiscal to comply with regulatory requirements.
The bank is looking at a 10% dilution in shares post issue, CEO KV Rama Moorthy said in an interview to ET. ....

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In IPO frenzy, 200 HNIs compete for one share - The Hindu BusinessLine


In IPO frenzy, 200 HNIs compete for one share
Rich are lured by hefty listing gains, easy financing
The booming primary market is witnessing strong participation from non-institutional investors (NIIs). Driven mainly by HNIs, the average subscription for the non-institutional quota has been 190-200 times in 2020 and so far in 2021 compared to 30-40 times about a decade back. This means, for every share on offer under the NII quota in IPOs, there are 200 competing investors.
Flush with cash and financing, HNIs are going after initial public offerings (IPOs) in a big way as substantial listing day gains have become the norm, say experts. Technically, non-institutional bidders are individual investors, NRIs, companies, trusts etc who bid for more than ₹2 lakh but do not have to register with SEBI like qualified institutional investors (QIIs). ....

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