DRHP Link: https://www.icicisecurities.com/Upload/ArticleAttachments/Fincare%20Small%20Finance%20Bank%20Limited%20DRHP%20Dated%20May%201%202023.pdf
Fincare Small Finance Bank Limited (“The Bank”) a “digital-first” SFB with a focus on unbanked and under-banked customer segments especially in rural and semiurban areas, has filed Draft Red Herring prospectus with market regulator Security Exchange Board of India (SEBI).
The Bank plans to raise funds via Initial Public Offerings through issue of equity share capital of face value ₹ 10 each comprising of fresh issue aggregating upto ₹ 625 crore (The “Fresh Issue”) and Offer for sale aggregating up to 17,000,000 equity shares by Promoter and Investor Selling shareholders (The “Offer for Sale”)
The bank proposes to utilize the net proceeds of the fresh Issue towards augmentation of Bank’s Tier-I capital base to meet its Bank’s future capital requirements.
The offer of equity shares comprises of up to 14,934,779 equity shares by Fincare Business Services Limited (“Promoter Selling Shareholder”) 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 shar es 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 (formerly known as Edelweiss General Insurance Company Limited) (“Investor Selling Shareholders”) (“Collectively Selling Shareholders”)
ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, SBI Capital Markets Limited and Ambit Private Limited are the Book Running Lead Managers
Fincare Small Finance Bank Limited is a “digital-first” SFB with a focus on unbanked and under-banked customer segments especially in rural and semiurban areas. The Bank follows a business model focused on financial inclusion and aim to provide individuals and businesses with affordable financial products and services that meet their needs. Bank’s business objective is to enhance access to savings, credit and other financial products for unbanked and under banked individuals, MSMEs and unorganized entities, especially in rural areas, by leveraging technology and last-mile distribution. Bank with a deep understanding of unbanked and under-banked customer segments, especially rural customers, with over 15 years of experience in providing microloans.