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.

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Printable version | Sep 19, 2021 8:35:00 PM |

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