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Fincare SFB refiles IPO papers with financial earnings update for FY23
May 03, 2023
Fincare Small Finance Bank Ltd has refiled its preliminary IPO papers with market regulator Sebi after updating documents on financial earnings for fiscal 2022-23.
This came after the Securities and Exchange Board of India (Sebi) returned the small finance draft IPO (Initial Public Offering) papers on March 3 and asked the company to refile the documents with certain updates.
According to sources, the company was asked to update its financial earnings.
The size of the company’s IPO remains unchanged in the revised documents.
The IPO of the lender comprises a fresh issue of equity shares worth up to ₹625 crore and an offer for sale (OFS) aggregating up to 1.7 crore equity shares by a promoter and investors selling shareholders.
Those selling shares in the OFS are promoter Fincare Business Services Ltd, and investors Wagner, True North Fund V LLP, Indium IV (Mauritius) Holdings Ltd, Omega TC Holdings PTE Ltd and Leapfrog Rural Inclusion (India) Ltd.
Besides, Kotak Mahindra Life Insurance Company, Edelweiss Tokio Life Insurance Company, Bharti AXA Life Insurance Company, Silver Leaf Oak (Mauritius) Ltd, Tata Capital Financial Services Ltd and Zuno General Insurance Ltd (formerly known as Edelweiss General Insurance Company) are the investors selling shares in the OFS.
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