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Fincare Small Finance Bank refiles IPO draft papers
August 08, 2022
The IPO consists of a fresh issue of shares worth ₹625 crore and an offer for sale of up to 17 million shares by shareholders and promoters. The firm had earlier filed draft papers in May 2021 for an IPO with a fresh share issue of ₹330 crore and OFS of ₹1,000 crore.
The revised OFS comprises 14.93 million shares by Fincare Business Services, 4.71 lakh shares by Wagner Ltd, 4.44 lakh by True North Fund LLP, 4.31 lakh shares by Indium IV (Mauritius) Holdings Ltd, 2.24 lakh shares by Omega TC Holdings Pte Ltd, 1.31 lakh shares by LeapFrog Rural, 1.26 lakh shares by Kotak Mahindra Life Insurance, and 1.17 lakh shares by Edelweiss Tokio Life Insurance.
Proceeds from the fresh issue of shares will be used for augmenting the bank’s tier one capital base to meet its future capital requirement.
As of March 2022, Fincare’s total Capital to Risk (Weighted) Assets Ratio stood at 22.32 percent.
ICICI Securities, Axis Capital, IIFL Securities, SBI Capital Markets and Ambit Pvt Ltd are the lead managers to the issue.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/