Fincare Small Finance Bank files DRHP with SEBI to raise ₹625 Cr via IPO launch

Fincare Small Finance Bank has filed Draft Red Herring prospectus (DRHP) with the market regulator Security Exchange Board of India (SEBI). The bank seeks to raise money through initial public offerings (IPOs) by issuing equity share capital with a face value of Rs. 10 apiece, consisting of a new issuance totalling up to Rs. 625 crores and an offer for sale totalling up to 17,000,000 equity shares by promoter and investor selling shareholders.

Fincare Small Finance Bank said it plans to raise its Tier-I capital base with the net proceeds of the new Issue in order to satisfy its bank's future capital needs.

Fincare Small Finance Bank said in a statement that the offer of equity shares comprises of up to 14,934,779 equity shares by Fincare Business Services Limited and up to 471,754 equity shares by Wagner Limited, up to 444,140 equity shares by True North Fund V LLP, up to 430,842 equity shares by Indium IV (Mauritius) Holdings Limited, up to 223,955 equity shares by Omega TC Holdings PTE. Ltd; up to 130,787 equity shares by Leapfrog Rural Inclusion (India) Limited; up to 126,151 equity shares by Kotak Mahindra Life Insurance Company Limited; up to 116,981 equity shares by Edelweiss Tokio Life Insurance Company Limited; up to 45,710 equity shares by Bharti AXA Life Insurance Company limited; up to 35,092 equity shares by Silver Leaf Oak (Mauritius) Limited; up to 20,572 equity shares by Tata Capital Financial Services Ltd and up to 19,237 equity shares by Zuno General Insurance Limited.

ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, SBI Capital Markets Limited and Ambit Private Limited are the Book Running Lead Managers of Fincare Small Finance Bank IPO launch.