Fincare Small Finance Bank has filed a draft red herring prospectus (DRHP) with the capital markets regulator Sebi again on May 1, to raise funds via an initial public offering (IPO).
The public issue comprises a fresh issuance of shares worth Rs 625 crore and an offer for sale (OFS) of 1.7 crore equity shares by promoter and investors.
Promoter entity Fincare Business Services, along with investors Kotak Mahindra Life Insurance Company, Wagner, Edelweiss Tokio Life Insurance Company, True North Fund V LLP, Bharti Axa Life Insurance Company, Indium IV (Mauritius) Holdings, Silver Leaf Oak (Mauritius), Omega TC Holdings Pte Ltd, TATA Capital Financial Services, LeapFrog Rural Inclusion (India), and Zuno General Insurance (formerly known as Edelweiss General Insurance) are the sellers in an offer for sale.
The small finance bank is going to utilise fresh issue proceeds for augmenting its Tier-1 capital base to meet future capital requirements.
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Earlier in March 2023, the Sebi had returned the preliminary IPO papers to Fincare Small Finance Bank.
ICICI Securities, Axis Capital, IIFL Securities, SBI Capital Markets, and Ambit are acting as book-running lead managers to the issue.
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