Satkar Finlease Limited has filed DRHP with the SME platform of BSE to raise R12.816 Cr through an IPO by issuing 7.12 Mn shares of the company, which constitute 37.39% of the post issue paid up equity capital, at R18 a piece.
Guiness Corporate Advisors have been appointed as the lead manager to the issue.
The company plans to utilize the funds raised for enhancing its operations by increasing its volume of NBFC activities. The company also aims to strengthen its brand and direct a part of the fund raise towards promotional activities.
Incorporated in 1996 in New Delhi, the company engages itself in providing various loans which include inter corporate loan, personal loan, loan against share and securities, trade financing facilities etc. The company was originally promoted by Avtar and Hardip Singh, however in 2013 the control changed hand to the current promoter Rahul Tiwari, Manish Gupta and OP Property Developers.
The company plans to foray into Financial management and advisory services with potential clients.
The company identifies itself with peers like Sundaram Finance and IKF Finance.
The company’s net profit increased from R2.4 Lacs in March 2012 to R11.26 Lac in March 2013.
SRG Securities, GCM Commodities, Amrapali Capital and Finance, Money Master Leasing and Finance are other companies that have filed a DRHP on the same platform.
Other deals NBFC space;
Urban microlender Janalakshmi Financial Services had raised R325 Cr as a part of Series D round of funding.
Canara Bank, India's fifth largest state-owned lender in assets, was planning to acquire the retail loan portfolios of various NBFC’s including Warburg Pincus-backed Capital First, Bajaj Finserv and Indiabulls Finance.
American PE Firm KKR and Co. LP was seeking a strategic partner for infusing capital in India-based NBFC - KKR India Financial Services Pvt.
Everstone Capital had invested R200 Cr in Hinduja Leyland Finance for an undisclosed stake.
Foreign institutional investor Baring India PE Partners India Ltd had increased its holding in the gold loan company, Manappuram Finance through open market transaction.
Gramco Infratech Private Limited, a rural-focused company that creates infrastructure to support farmers, secured a first-round equity funding of R15 Cr from Samridhi Fund. The funds raised will be used to construct agri-warehouses in Madhya Pradesh and to meet its working capital requirements.
Mumbai based Tata Sky Ltd, a Direct-to-Home (DTH) service provider is in talk with PE firms to raise about R1800 Cr ($300 Mn) after dismissing it plans for an IPO. The PE firms approached by the company includes Bain, Blackstone, Warburg Pincus, TPG and General Atlantic