Microfinance institution Arohan Financial Services files IPO papers to raise Rs 1,750-1,800 crore
The company may raise Rs 150 crore via pre-IPO placement. If the said fund raising takes place, then the fresh issue size will get reduced. February 15, 2021 / 03:00 PM IST
Kolkata-based microfinance lender Arohan Financial Services has filed draft red herring prospectus with the capital market regulator, Sebi on February 14, for its initial public offering.
The public offer comprises a fresh issue of Rs 850 crore and an offer for sale of 2,70,55,893 equity shares by Maj Invest Financial Inclusion Fund II K/S, Michael & Susan Dell Foundation, Tano India Private Equity Fund II, TR Capital III Mauritius and Aavishkaar Goodwell India Microfinance Development Company II.
Arohan plans to raise up to ₹1,800 crore via share sale
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MUMBAI :
Kolkata-based Arohan Financial Services Ltd on Monday filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi) to raise funds in an initial public offering (IPO).
The Aavishkaar group promoted lender is planning a ₹1,750-1,800 crore IPO, a person aware of the matter said requesting anonymity.
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The public offer include new shares worth ₹850 crore, and an offer for sale of 27.06 million equity shares by Maj Invest Financial Inclusion Fund II, Michael and Susan Dell Foundation, Tano India Private Equity Fund II, TR Capital III Mauritius and Aavishkaar Goodwell India Microfinance Development Co. II Ltd.
Read more about Arohan Financial files paperwork for Rs 1,800 cr initial public offering on Business Standard. Arohan Financial Services, a non-banking financial company, has filed draft papers with markets regulator SEBI for its proposed initial public offer (IPO).As per market sources, the Kolkata-based company plans to raise between Rs 1,750 crore and Rs
Arohan Financial files draft red herring prospectus
February 15, 2021
The market sources peg the company’s IPO between ₹1,750-1,800 crore. Arohan Financial Services Ltd, a Kolkata-based NBFC and microfinance institution (MFI), has filed a Draft Red Herring Prospectus for an Initial Public Offering (IPO) with the market regulator.
While the company did not disclose the amount it intends to raise through the IPO, market sources pegged it about ₹1,750-1,800 crore.
The offer comprises fresh issuance of shares amounting to ₹850 crore. The company will have an Offer for Sale (OFS) of 2.7 crore shares by Maj Invest Financial Inclusion Fund II K/S, Michael & Susan Dell Foundation, Tano India Private Equity Fund II, TR Capital III Mauritius and Aavishkaar Goodwell India Microfinance Development Company II Ltd collectively.