Fincare Small Finance Bank

IPO Size

`1330 Cr

Price Band


Minimum Lot Size


Face Value

`10 Per Share

Employee Discount


Retail Allocation


Issue Open Date


Issue Close Date


Listing Date


About the Company:

Fincare is a "digital-first" SFB with a focus on unbanked and under-banked customers, especially in rural and semi-urban areas. among comparable SFB peers in India, Fincare had the highest growth rate in advances over FY2018 to FY2020. Bank follows a business model focused on financial inclusion and aims to provide individuals and businesses with affordable financial products and services that meet their needs. Bank's business objective is to enhance access to savings, credit, and other financial products for unbanked and underbanked individuals.

Bank's "digital-first" approach supports the extensive physical network and focuses on technology-led operations across all aspects of our banking operations. As a result of the Bank's digital focus, the SFB benefits from reduced costs, greater customer satisfaction, and improved employee productivity. For FY2020, the bank onboarded over 99.35% of its new customers (borrowers and depositors) using employee-assisted digital processes (including 99.97% for asset accounts and 99.70% for liability accounts), and all of our loan disbursement for microloans, loans against property, and affordable housing loans were cashless.

Bank's asset products cater to low-income mass retail individuals as well as to micro and small enterprises. The asset products include microloans, loans against property, loans against gold, two-wheeler loans, affordable housing loans, and institutional finance, which we tailor to suit the particular needs of the Bank's diverse customer segments.

Outstanding Litigation:

S.No. 1 - Company 2 - Directors 3 - Promoters
Entity Name By the Company Against the Company By the Director Against the Director By the Promoter Against the Promoter
Criminal cases 2 - - - 54 -
Material civil cases 3 - - - - -
Taxation matters - - - - - -
Regulatory Proceedings - - - - - -

Financial Statements:

Income Statement(in Milllions) March'2021 March'2020 March'2019
Gross Operating Income 13,784.10 12,157.20 6,748.82
Cost of Employee & Inventory 2,891.90 2,599.27 1,806.29
Other Expenses 12,652.70 10,722.71 5,729.02
Finance Cost 5,500.90 4,515.04 2,290.74
Depreciation 170.10 169.04 121.93
Profit/Loss Before Tax  1,131.40 1,434.50 224.34
 Tax - - -
Profit/Loss After Tax 1,131.40 1,434.50 224.34

Promoter of the Company

Fincare Business Services Limited

Peer Comparison

• AU Small Finance Bank Limited • Bandhan Bank Limited • CreditAccess Grameen Limited • Equitas Small Finance Bank Limited • Ujjivan Small Finance Bank Limited • Spandana Sphoorty Financial Limited • Suryoday Small Finance Bank Limited

Objectives of the Issue

Offer for Sale

Proceeds from the Offer for sale worth Rs 1000 cr, will not be received by the company.

Fresh Issue

Net proceed of Rs 330cr from the offer for sale will be utilized for the following: Augmentation of the Bank’s Tier-I capital base to meet the Bank’s future capital requirements which are expected to arise out of growth in the Bank’s assets, primarily the Bank’s loans/advances and investment portfolio, and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time. The amount to be funded from Net Proceeds and proposed to be deployed in Fiscal 2022 towards augmentation of the Bank’s Tier-1 capital base.

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