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Svatantra Microfin Files Draft Papers for INR30 Billion India IPO

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Indian microfinance lender Svatantra Microfin has filed its draft papers for an up to 30 billion-rupee initial public offering in India.

The initial public offering comprises a fresh issue of up to 15 billion rupees and an offer for sale of up to 15 billion rupees, according to its draft red herring prospectus filed Thursday.

The offer for sale includes shares held by Multiples Private Equity Fund III, Multiples Private Equity Fund IV, Multiples Private Equity Gift Fund IV, and Violicina Limited.

Axis Capital, Avendus Capital, IIFL Capital Services, Kotak Mahindra Capital, and SBI Capital Markets are the book-running lead managers for the offering.

The microfinance lender's shares are proposed to be listed on the BSE and NSE.

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