Fincare SFB files DRHP for IPO of up to Rs. 1,330 crore

Fincare Small Finance Bank will be making an initial public offer (IPO) aggregating up to Rs. 1,330 crore, comprising fresh issue aggregating up to Rs. 330 crore and an offer-for-sale aggregating up to Rs. 1,000 crore by the promoter selling shareholder.

According to the bank’s Draft Red Herring Prospectus (DRHP), Fincare SFB proposes to utilise the net proceeds from the fresh issue towards augmenting its Tier-1 capital base to meet its future capital requirements.

The DRHP said that the bank may, in consultation with Managers (to the IPO), consider a pre-IPO Placement aggregating up to Rs. 200 crore.