Arohan Financial Services is a licenced NBFC-MFI with the RBI, and their operations are supervised by them. In 2006, they began microfinance operations. They represented approximately 2.21 million borrowers in 17 states as of September 30, 2020. Twelve of India's 14 low-income states were among them. Their microfinance branch network consisted of 710 branches in 11 states as of that date, while our MSME lending branch network consisted of 10 branches in eight states. They have a wide variety of goods to consumers that are financially disadvantaged.
They're working to enhance our customer sourcing networks, sustain well-established loan origination, credit underwriting, and loan management processes, and implement and integrate technology to improve lending outcomes and operational efficiency.
Arohan Financial Services IPO Details
On February 14, Arohan Financial Services, a microfinance lender based in Kolkata, filed a draft red herring prospectus with the capital market regulator, Sebi, for its initial public offering. The public offering consists of a Rs 850 crore new issue and a sale of 2,70,55,893 equity shares.
According to the DHHP, the company plans to collect Rs 150 crore through a pre-IPO placement. If a pre-IPO takes place, the company's fresh problem size will be reduced as a result. Arohan Financial Services, a leading NBFC-MFI with operations in India's financially underserved low-income states, will use the proceeds from the new issue to expand its capital base in order to fulfil potential capital needs, which are projected to be met in FY22.
Arohan Financial Services IPO Date
The opening and closing dates of Arohan Financial Services Limited's initial public offering (IPO) are not yet known. The upcoming IPO will usually last 3–4 days, after which you will be allocated shares based on demand. The money you paid will be refunded to your bank account if your shares are not allocated to you.
Arohan Financial Services IPO Issue Size
This Initial Public Offering consists of an undisclosed number of Rs.10 equity shares sold for cash at an unknown price per equity share.
Arohan Financial Services IPO Share Price
The face value of each share is Rs.10, but the IPO's price band has not been revealed. The initial share sale will take place in the first quarter of the following fiscal year.
Arohan Financial Services IPO Listing
The exact date of this latest IPO's public offering is unknown.
Arohan Financial Services IPO Objectives
The Net Proceeds will be used by Arohan Financial Services to finance the following elements:
- Growing company's capital base
- Proposed Implementation and Deployment Schedule for Net Proceeds
- Use of Net Proceeds in the Short Term
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