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Fincare SFB files DRHP for IPO of up to ₹1,330 cr
May 09, 2021
Rajeev Yadav, Chief Executive Officer of Fincare Small Finance Bank, (File photo) - The Hindu×
Fincare Small Finance Bank will be making an initial public offer (IPO) aggregating up to ₹1,330 crore, comprising fresh issue aggregating up to ₹330 crore and an offer-for-sale aggregating up to ₹1,000 crore by the promoter selling shareholder.
Fincare SFB proposes to utilise the net proceeds from the fresh issue towards augmenting its Tier-1 capital base to meet its future capital requirements, according to the bank’s Draft Red Herring Prospectus (DRHP).
The bank may, in consultation with Managers (to the IPO), consider a pre-IPO Placement aggregating up to ₹200 crore, the DRHP said.