Fincare small finance bank is coming up with an IPO, the issue size of the IPO is Rs 1,330 crore. The issue comprises a fresh issue of equity share worth Rs 330 crore and an offer for sale of up to Rs 1,000 crore by its promoter Fincare business services limited. The face value of each share will be Rs 10.
Fincare small finance bank is a "digital-first" SFB with a focus on unbanked and under-banked customers, especially in rural and semi-urban areas. According to CRISIL, among comparable SFB peers in India, this bank had the highest growth rate in advances over FY2018 to FY2020.