Sebi nod for 2 IPOs Fincare Small Finance Bank, Western Carriers will raise Rs625cr and Rs500 cr respectively Bizz Buzz 3 Oct 2023 12:00 AM IST ( Updated:3 Oct 2023 12:01 AM IST ) Fincare Small Finance Bank Ltd and logistics company Western Carriers (India) Ltd have received capital markets regulator Sebi’s approval to raise funds through Initial Public Offerings (IPOs). The two firms, which filed preliminary IPO papers with the Securities and Exchange Board of India (Sebi) between May and June, obtained the regulator’s observation letters during September 15-22, an update with the watchdog showed on Tuesday. In Sebi's parlance, obtaining its observation letter means its clearance to float the public issue. Going by the draft paper, Fincare Small Finance Bank’s IPO comprises a fresh issue of equity shares worth up to Rs625 crore and an Offer For Sale (OFS) aggregating up to 1.7 crore equity shares by a promoter and investors.

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