Non-banking financial company iFinance has filed draft documents with market regulator Sebi to raise Rs 1,450 crore through its initial public offer (IPO).
The Gurugram-based NBFC’s proposed IPO is a combination of a fresh issue of shares worth Rs 885 crore and an offer for sale (OFS) of Rs 565 crore by corporate and individual selling shareholders, according to a draft red herring prospectus (DRHP) filing. Monday.
A91 Emerging Fund I LLP, Alpha Wave India I LP, CapitalG International LLC, CapitalG LP, LGT Capital Invest Mauritius PCC, MAJ Invest Financial Inclusion Fund, Harleen Kaur Jetley and Vikram Jetley are offloading shares to OFS.
Currently, AE Finance has 16.19% shareholdings from Elevation Capital, 14.13% from LGT Capital Invest Mauritius PCC, 11.21% from Alpha Wave India ILP, and 13.27% from CapitalG LP and CapitalG International. Show the documents.
The company may consider raising Rs 177 crore through a pre-IPO placement. If such placement is completed, the fresh issue will be reduced in size.
Proceeds from the fresh issue will be used to increase the player’s capital base of the NBFC and for general corporate purposes.
The NBFC player – focused on providing micro scale credit to micro, small and medium enterprises (MSMEs) – serves over 5 lakh unique active customers through a network of 478 branches spread across 18 states and 3 union territories.
As of September 30, 2024, the company’s assets under management (AUM) stood at Rs 4,980 crore and its profit after tax (PAT) rose from Rs 44 crore in FY 2023 to Rs 172 crore in FY 2024.
Axis Capital, IIFL Capital Services, JM Financial and Nuvama Wealth Management are the book-running lead managers and Caffeine Technologies Limited is the registrar of the issue.