Fincare SFB to file IPO papers this week

fincare ipo

Bengaluru-based Fincare Small Finance Bank is set to file its Draft Red Herring Prospectus (DRHP) with the market regulator for an initial public offer (IPO). The IPO will include a fresh issue and offer for sale by the existing shareholders. 

The issue is expected to be in the range of INR 1,200-Rs 1,400. 

Fincare SFB is the newest small finance bank (SFB) to announce plans to launch an initial public offering. It is supported by investors like TA Associates, True North, SIDBI, and Tata Opportunities Fund. 

ICICI Securities, Ambit Capital, and Axis Capital have been appointed as lead managers for the round of IPO issue. 

ESAF Small Finance Bank, TPG-backed Jana Small Finance Bank, and Utkarsh Small Finance Bank have already filed DRHP with SEBI for IPOs and are expected to hit the market in the forthcoming months.

Fincare SFB is one of the 10 microfinance institutions that received approval from RBI to turn itself into a small finance bank. Under RBI standards, small finance banks are needed to list themselves within three years of attaining a net worth of INR 500 crore. Under these rules, Fincare SFB will have to list itself before September 2021. 

Recently RBI has approved the classification of priority sector lending for loans given by small finance banks to microfinance institutions for on-lending to individuals. This decision has been taken to address the pandemic-induced liquidity crisis. 

It takes a lot of patience and perseverance for a company to reach a stage where it can plan an IPO. Fincare SFB has huge potential and I hope the IPO is successful.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com