Industry

Fincare SFB’s ₹1,330-cr. IPO gets SEBI nod

Fincare Small Finance Bank (SFB) has received capital markets regulator SEBI’s go-ahead to raise ₹1,330 crore through an initial share sale.

The initial public offering (IPO) comprises a fresh issue of equity share of the bank worth ₹330 crore and an offer for sale aggregating up to ₹1,000 crore by promoter Fincare Business Services Ltd., as per the Draft Red Herring Prospectus (DRHP)

The bank would utilise net proceeds from the fresh issue towards augmenting tier-1 capital base to meet future capital requirements. A small portion of the proceeds will be used for meeting expenses in relation to the IPO.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Sep 19, 2021 8:35:00 PM | https://www.thehindu.com/business/Industry/fincare-sfbs-1330-cr-ipo-gets-sebi-nod/article35691236.ece

Next Story