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IPO

Fincare Small Finance Bank refiles draft IPO papers with Sebi

Economic Times  

Bengaluru-based Fincare Small Finance Bank has refiled preliminary papers with Sebi to raise funds through an Initial Public Offering (IPO). The IPO comprises fresh issue of equity shares worth up to INR 625 crore and an Offer For Sale (OFS) aggregating up to 1.7 crore equity shares by a promoter and investors. ICICI Securities, IIFL Securities, Ambit, Axis Capital and SBI Capital Markets are the book running lead managers to the issue. Equity shares of the lender will be listed on BSE and NSE. Those selling shares in the OFS include promoter Fincare Business Services Ltd, and investors Wagner, True North Fund V LLP, Indium IV (Mauritius) Holdings Ltd, Omega TC Holdings PTE Ltd and Leapfrog Rural Inclusion (India) Ltd. Other selling investors include Kotak Mahindra Life Insurance Company, Edelweiss, Tokio Life Insurance Company, Bharti AXA Life Insurance Company, Silver Leaf Oak (Mauritius) Ltd, Tata Capital Financial Services Ltd and Edelweiss General Insurance Company. The proceeds from the fresh issue will be used towards augmenting its Tier-1 capital base to meet future capital requirements.