Capital Small Finance Bank files for IPO in India

Capital Small Finance Bank Ltd. filed a draft red herring prospectus for its planned IPO with the Securities and Exchange Board of India.

The Indian lender's initial share sale will comprise a fresh issuance of up to 4.50 billion rupees of equity shares and an offer for sale by existing shareholders of up to 3,840,087 equity shares. Each share that will be on offer has a face value of 10 rupees.

PI Ventures LLP, Amicus Capital Private Equity I LLP, Amicus Capital Partners India Fund I and Oman India Joint Investment Fund II are the selling shareholders.

Capital Small Finance noted in the Oct. 30 prospectus that it might also consider a pre-IPO fundraising for up to 900.0 million rupees.

Net proceeds from the initial share sale will be used to augment the bank's Tier 1 capital base to meet its future capital requirements, as well as cover the costs of the IPO.

Edelweiss Financial Services Ltd., Axis Capital Ltd. and SBI Capital Markets Ltd. are the bookrunning lead managers for the IPO.

As of Nov. 1, US$1 was equivalent to 74.82 Indian rupees.