SBFC Finance, a lender based in the Indian city of Mumbai, recently raised INR 1.5 billion (USD 18.3 million) from Amansa Capital, a Singapore-based private equity firm. Amansa received 27 million shares in SBFC ahead of the latter’s upcoming IPO. The IPO is slated to total INR 12 billion (USD 145 million), including INR 7.5 billion (USD 91 million) in new shares, with a targeted valuation of the company at INR 54 billion (USD 654 million). SBFC Finance is a non-bank issuer of “loans to entrepreneurs, small business owners, self-employed individuals, salaried and working-class individuals.” It has approximately 285,000 customers and 135 branches. For the year ending March 2023, the firm reported a profit of INR 1.5 billion (USD 18.2 million), ending the period with total assets of INR 60 billion (USD 727 million).

Source: Mint June 08, 2023 07:04 UTC