SBFC refiles DRHP, cuts IPO size

23 Mar 2023 , 10:58 AM

Non-banking financial company, SBFC Finance Limited has refiled its preliminary IPO papers with market regulator SEBI after reducing its size from Rs 1600 crore to Rs 1200 crore. 

The IPO size includes fresh issuance of equity shares worth Rs 750 crore and an Offer for Sale (OFS) of Rs 450 crore. In offer for sale Arpwood Partners Investment Advisors LLP will offload up to Rs 207.75 crore by, Arpwood Capital Private Limited will sell off up to Rs 50.99 crore, Rs 41.26 crore by Eight45 Services LLP, and Rs 150 crore by SBFC Holdings Pte. Ltd.

The company has reserved up to 50% of the offer for institutional investors, 15% for non-institutional investors, and up to 35% for retail investors. The offer also includes a reservation for subscription by eligible employees.

It may also consider private placement of the shares up to Rs 150 crore. If such Pre-IPO placement is completed, the fresh issue size will be further reduced.

As per DRHP, SBFC Finance will use the fresh issue towards the augmentation of its capital base to meet future capital requirements.

ICICI Securities Limited, Axis Capital Limited, and Kotak Mahindra Capital Company Limited are the book-running lead managers and KFin Technologies Limited is the registrar of the offer. 

The equity shares are proposed to be listed on BSE and NSE.