Arohan Financial Services has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 1,750-1,800 crore through an initial public offering (IPO).
The net proceeds from the fresh issue will be utilised for augmenting the company's capital base to meet its future requirements, which is expected to be deployed in FY22. Edelweiss Financial Services Ltd, ICICI Securities, Nomura Financial Advisory and Securities (India) and SBI Capital Markets are the Book Running Lead Managers to the issue.
Arohan Financial Services is a leading NBFC-MFI with operations in financially under-penetrated low Income States of India. It provides income generating loans and other financial inclusion related products to customers who have limited or no access to financial services.
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