SBFC Finance files DRHP for Rs 1600 crore IPO

A non-banking financial institution, SBFC Finance Ltd., has submitted preliminary paperwork to capital markets watchdog Sebi in order to raise up to Rs1,600 crore through an initial public offering (IPO). According to the Draft Red Herring Prospectus, the IPO consists of a fresh issue of equity shares worth up to Rs750 crore and an offer-for-sale (OFS) component worth up to Rs850 crore by promoter-selling stockholders (DRHP).

Arpwood Partners Investment Advisors LLP will sell shares worth Rs398.19 crore; SBFC Holdings Pte Ltd will sell shares worth Rs275 crore; Arpwood Capital Pvt Ltd will sell shares worth Rs97.72 crore; and Eight45 Services LLP will sell shares worth Rs79.08 crore.

The company may consider a pre-IPO placement totaling Rs150 crore, according to the draft papers. 

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