Arohan Financial Services files preliminary papers with SEBI for IPO
Arohan Financial Services has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO), comprising a fresh issue of shares worth Rs 600 crore. Apart from the fresh issue, there will be an offer for sale (OFS) of 4.04 crore shares by existing investors.
Proceeds from the fresh issue will be used to boost the company's capital base and for general corporate purposes. DAM Capital Advisors, Motilal Oswal Investment Advisors and SBI Capital Markets are managing the issue.
Arohan Financial Services is a technology-enabled non-banking financial company -microfinance institution (NBFC-MFI) offering income-generating loans and a suite of financial and non-financial products to customers primarily across rural and semi-urban states in India.
