SEBI returns IPO documents of BVG India, Fincare Small Finance Bank
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Integrated services company BVG India Limited had submitted preliminary documents to market regulator SEBI in September 2021 to raise capital through IPO. Up to 200 crore new shares were to be issued in the IPO.
The Securities and Exchange Board of India (SEBI) has returned the initial public offering (IPO) documents of two companies – BVG India and Fincare Small Finance Bank India. Integrated services company BVG India Limited had submitted preliminary documents to market regulator SEBI in September 2021 to raise capital through IPO. Up to 200 crore new shares were to be issued in the IPO.
In addition, it included an offer for sale (OFS) of up to 71,96,214 shares by the promoters and private equity investor 3i Group. Besides this, SEBI also withdrew the IPO documents of Fincare Small Finance Bank. The company had filed its initial papers with the market regulator in August last year to raise capital through an IPO. New shares up to Rs 625 crore were to be issued in its IPO.
It also included an offer for sale (OFS) of 1.7 crore shares by one of its promoter and sell-side investors. Under the rules, a company gets one year to enter the primary market after getting approval from SEBI. The market regulator said on Monday that the documents of BVG India and Fincare Small Finance Bank India have been returned on March 2 and March 3 respectively.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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