Arohan Financial Files Draft Papers For Rs 1,800-Crore IPO
A person holds Indian rupee notes in Pune, India. (Photographer: Dhiraj Singh/Bloomberg)  

Arohan Financial Files Draft Papers For Rs 1,800-Crore IPO

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Arohan Financial Services, a non-banking financial company, has filed draft papers with the Securities and Exchange Board of India for its proposed initial public offer.

As per market sources, the Kolkata-based company plans to raise between Rs 1,750 crore and Rs 1,800 crore.

The public offer of the Aavishkaar Group promoted company comprises a fund raise through a fresh issuance of shares amounting to Rs 850 crore.

The company will have an offer for sale of 2,70,55,893 equity shares by Maj Invest Financial Inclusion Fund II K/S, Michael & Susan Dell Foundation, Tano India Private Equity Fund II, TR Capital III Mauritius and Aavishkaar Goodwell India Microfinance Development Company II Ltd., according to Draft Red Herring Prospectus.

The net proceeds from the fresh issue will be utilised for augmenting the company's capital base to meet their future capital requirements.

Also read: RailTel IPO: Here’s All You Need To Know

Edelweiss Financial Services Ltd., ICICI Securities Ltd., Nomura Financial Advisory and Securities (India) Pvt. Ltd. and SBI Capital Markets Ltd. are the managers to the issue.

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