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Fincare Small Finance Bank files for IPO, plans to raise Rs 1,330 crore

Fincare Small Finance Bank files for IPO, plans to raise Rs 1,330 crore The IPO of Bengaluru-based microfinance company comprises a fresh issue of Rs 330 crore by the bank and an offer for sale of Rs 1,000 crore by promoter Fincare Business Services BusinessToday.In | May 10, 2021 | Updated 18:20 IST Representative Image Fincare Small Finance Bank has filed draft papers for its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). It plans to raise Rs 1,330 crore from the primary market. The IPO of Bengaluru-based microfinance company comprises a fresh issue of Rs 330 crore by the bank and an offer for sale of Rs 1,000 crore by promoter Fincare Business Services.

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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