AU SFB on October 30 announced that Fincare SFB will merge with the bank in effect from February 1, 2024.
Fincare’s big microfinance book may pose challenges for AU Small Finance, which has limited exposure in this business.
Organic growth takes time and may increase the operating expenses of small finance banks. In a scramble for deposits and intensive competition in lending, SFBs have to look for inorganic growth.
The Online bond platform is well capitalised for the next 3-4 years, said Kulkarni, the Chief Executive Officer and Co-founder of Wint Wealth
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 public issue comprises a fresh issuance of shares worth Rs 625 crore, and an offer for sale of 1.7 crore equity shares by promoter and investors.
Integrated services company BVG India Ltd had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in September 2021 to raise funds through an initial public offering (IPO).
As per Reserve Bank of India guidelines for ‘on tap’ licensing of small finance banks (SFBs) in the private sector, listing of an SFB becomes mandatory within three years of it reaching a net worth of Rs 500 crore.
Fincare Small Finance Bank is going beyond the traditional lending model and creating a robust ecosystem for its women customers, empowering them with financial literacy and creating awareness about loans, credit history. This is a partnered post.
Discover the success mantra of Fincare Small Finance Bank, A Digital Bank in an insightful discussion with Mr Rajeev Yadav, MD & CEO, Fincare Small Finance Bank. This is a partnered post
The public offer 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 SFB is targeting assets under management (AUM) of Rs 10,000 crore by 2021, expecting to be entirely funded by deposits, Yadav told reporters here.
Fincare SFB was earlier known as Dish Microfin as an NBFC and it forayed into Delhi market by opening a branch here today.
The bank which formally began operations in July last year has set a target of generating total loan portfolio of Rs 10,000 crore and total deposits of Rs 8,600 crore in three years.