Fincare Small Finance Bank refiles DRHP with SEBI

August 8, 2022

Fincare Small Finance Bank has refiled primary papers with SEBI to raise finances through an original Public Offering (IPO). This fresh form comes as the capital requests controller’s one- time blessing given to the lender to launch an IPO expired last month. Under the rules, an establishment gets one time to hit the primary request after entering a blessing from SEBI. In case an establishment fails to launch IPO during this period, it has to refile the prospectus with the Securities and Exchange Board of India (SEBI) seeking fresh concurrence.

According to a fresh Draft Red Herring Prospectus (DRHP) filed on Saturday, Fincare Small Finance Bank’s IPO comprises fresh issue of equity shares worth up to Rs 625 crore and an Offer For sale (OFS) adding up to 1.7 crore equity shares by a protagonist and investors. Those dealing shares in the OFS are protagonist Fincare Business Services Ltd, and investors Wagner, True North Fund V LLP, Indium IV (Mauritius) effects Ltd, Omega TC effects PTE Ltd; Leapfrog pastoral Addition (India) Ltd,

Either, Kotak Mahindra NSE 0.58% Life Insurance Company, Edelweiss NSE-0.44% Tokio Life Insurance Company, Bharti AXA Life Insurance Company, Silver Leaf Oak (Mauritius) Ltd, Tata Capital Financial Services Ltd and Edelweiss General Insurance Company are the investors dealing shares in OFS. The bank would use net proceeds from the fresh issue towards accelerating its league- 1 capital base to meet unborn capital conditions.

ICICI Securities NSE-0.73%, IIFL Securities NSE-0.58%, dimension, Axis Capital and SBI NSE-2.01% Capital requests are the book running lead directors to the issue. Equity shares of the lender will be listed on BSE and NSE. The Bengaluru- grounded MFI- turned small finance bank started operations in July 2017.Before converting into a small finance bank, it largely conducted business from two realities videlicet Disha Microfin, which concentrated on the western region and Future Financial Services, which concentrated in the South.

In May 2021, Fincare Small Finance Bank had filed draft papers with Sebi to raise Rs1,330 crore through IPO. The lender had entered Sebi’s go- ahead to float the IPO in July last time but did not launch it.


The journey of Fincare Small Finance Bank was the process of coming together of 2 NBFC Micro Finance Institutions, Future Financial Services Private Limited and Disha Microfin Private Limited. Disha Moicrofin Private Limited received the final license from the RBI under Section 22 of the Banking regulation Act,1949 to launch Banking operations in May 2017.


The Bank Commenced Banking operations on 21st July 2017, with a vision to enable the financial inclusion of the unbanked and underbanked base of the pyramid, mass retail and micro and small enterprise segments with the active participation of the affluent. in the first quarter of FY20, Fincare small Finance Bank was included in the Second Scheduled of the RBI Act,1934.

By virtue of this, the Bank is now a scheduled Commercial Bank, a status that reflects the highest degree of the trust and good governance. Fincare Small Finance Bank has a suite of smart banking products such as saving Accounts, Current Accounts, Fixed Deposits, NRI Fixed Deposits, Recurring Deposits, Micro Loans, Cash Overdraft, Loans against gold, Loan against property.

Institutional Finance and Two-wheeler loan. Since inception, the digital paradigm has always been the force multiplier that would enable us to emerge as a best-in-class player in the banking landscape in India. We recognize digital as the currency that is going to radically change India’s future and in particular banking with a 3D approach viz. Digital, Doorstep and Delightful rates, we are confident of becoming a force to reckon and a ‘Smart Bank of Choice’ in India.