Fincare SFB Aims to Raise Funding with Sebi Draft Papers

May 3, 2023

Fincare Small Finance Bank has filed draft papers with capital requests controller Sebi to raise finances through an original public immolation (IPO). Fincare SFB is a digital-first bank with a focus on unbanked and under- banked client parts, especially in pastoral and semi-urban areas.

The IPO comprises fresh issues of over to Rs 625 crore and an offer for trade (OFS) adding up to 1.7 crore equity shares by protagonist and investor dealing shareholders. The OFS shares comprise up to 14,934,779 equity shares by Fincare Business Services and over to 471,754 equity shares by Wagner. Further, True North Fund V LLP, Indium IV (Mauritius) effects, Omega TC effects PTE,

Leapfrog pastoral Addition (India), Kotak Mahindra Life Insurance Company, and Edelweiss Tokio Life Insurance Company, among others, will also discharge stakes through the OFS. The bank proposes to use the net proceeds of the fresh issue towards addition of the Bank’s league- I capital base to meet its unborn capital conditions.

The company may consider a pre-IPO placement adding up to Rs 125crore. However, the size of the fresh issue will be reduced, if done. ICICI Securities, Axis Capital, IIFL Securities, SBI Capital Markets, and Ambit Private are the book- running lead directors to the issue, while Kfin Technologies is acting as the register.

Fincare SFB follows a business model concentrated on fiscal addition and aimed at furnishing individualities and businesses with affordable fiscal products and services that meet their requirements. The bank’s business ideal is to enhance access to savings, credit, and other fiscal products for unbanked and under- banked individualities, MSMEs, and unorganized realities, especially in pastoral areas, by using technology and last- afar distribution.

Fincare SFB has an expansive network of 1,231 banking outlets and 144 ATMs across 19 countries and three union homes as of March 2023. The company’s total income for the time ended March stood at Rs 1,971 crore, while net profit was at Rs 103 crore.

About Fincare Small Finance Bank


The genesis of Fincare Small Finance Bank was the coming together of 2 NBFC Micro Finance Institutions, Future Financial Services and Disha Microfin received the final license from the RBI under section 22 of the Banking Regulation Act ,1949, to launch Banking operations. The bank commenced banking operation on 21st July 2017, with a vision to enable the financial inclusion of the unbanked and underbanked customer segments, including microentrepreneurs and microenterprises and mass with the active participation of the affluent.

In the first quarter of FY20, Fincare Small Finance Bank was included in the second schedule of the Reserve Bank of India Act,1934. By Virtue of this, our bank became a scheduled Commercial Bank, a Status that reflects the highest degree of trust and good governance.

Fincare small Finance Bank has a suite of smart banking products comprising deposit, credit, wealth and protection solutions. The suite includes Saving Account, Current Account, Fixed Deposit, NRI Deposit, Recurring Deposit, 3-in-1 account. Micro Loan, Cash Overdraft, Loan against Gold, loan Against property, institutional Fincare and two-wheeler Loan and a Range of Life, health and general insurance products.

The Digital Outlook

Since Inception, digital has been the operating paradigm, a force multiplier that enables us to aspire to become the best-in-class in the banking landscape In India. We recognize digital as the currency that is radically changing india’s future and in particular banking. with a 3D approach viz. Digital, Doorstep and Delightful Deposit rates, we are confident of becoming a force to reckon and Smart Bank of Choice for our target segment.