IDFC NSE 6.44 % First Bank and a few other investors would be looking to lower their ownership in Suryoday Small Finance Bank , which is in the final laps of making an application for its initial public offer ( IPO ). The proposed IPO would consist of a primary issue and an offer for sale (OFS), people familiar with the matter said. Some of the existing investors would take the OFS route for partly offloading their stakes, they said. International Finance Corporation (IFC), DWM (International) Mauritius, Gaja Capital, Lok Capital and HDFC Life Insurance Company NSE -0.03 % are some of the prominent shareholders in Suryoday, which had Rs 3,700 crore of assets under management as of March. The size of the IPO is likely to be in the range of Rs 550-600 crore while about 40% would be reserved for OFS. The company was earlier looking to raise about Rs 1,400 crore but it pruned the proposed size because of the current challenging market condi...
Pre IPO | Private Equity | Unlisted Shares