After filing the draft papers, the bank seeks to raise â¹200 crore in a pre-IPO fundraising. It also intends to increase the size of its IPO to â¹1,500 crore. The SFB had filed draft papers for a proposed 1,200-crore IPO on 31 March 2021.
"The bank is targeting a listing in the second half of this fiscal year and plans to offer a preIPO opportunity to both existing and new investors. In FY23, the bank secured â¹337 crore from existing investors," the person added, requesting anonymity.
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