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Western Carriers (India) Ltd, the country’s largest multi-modal asset-light logistics company, had submitted its draft red herring prospectus (DRHP) with SEBI in June.
The bank would utilise net proceeds from the fresh issue towards augmenting its Tier-1 capital base to meet future capital requirements.
Fincare Small Finance Bank's initial public offering comprises a fresh issuance of shares worth Rs 625 crore and an offer-for-sale of 1.7 crore equity shares 12 shareholders including promoter entity Fincare Business Services.
The two companies received observation letters from the regulator between September 15 and 22, as indicated in an update from Sebi.
Fincare Small Finance Bank Ltd and logistics company Western Carriers Ltd have received capital markets regulator Sebi's approval