Capital SFB files papers with SEBI for IPO

Capital Small Finance Bank has filed its Draft Red Herring Prospectus for IPO, with Securities and Exchange Board of India.

The SFB plans to raise funds via Initial Public Offering through issue of equity share of face value ₹10 each comprising fresh issue of equity shares aggregating up to ₹450 crore and an offer for sale of up to 24,12,685 shares. The offer for sale comprises up to 8,36,728 shares by Oman India Joint Investment Fund II; 3,37,396 shares by PI Ventures LLP; 6,04,614 shares by Amicus Capital Private Equity I LLP; 70,178 equity shares by Amicus Capital Partners India Fund I and up to 5,63,769 equity shares by other investors.

The bank commenced operations as India’s first small finance bank in 2016 and has the most diversified portfolio with sizeable book in multiple asset classes as compared to other SFBs with a highest proportion of secured lending of 99.82 per cent as of FY23 among the SFBs.

The bank proposes to utilise the net proceeds towards augmenting Bank’s Tier-I capital base to meet its future capital requirements.