Arohan Financial to raise ₹ 3.5 billion, plans IPO in 12-15 months
Tuesday, September 11, 2018
By Malvika Joshi
Arohan Financial Services Ltd, the Kolkata-based microfinance company, will raise around ₹ 350 crore from its promoters and existing investors to strengthen its presence in east and north India, a top company official said. The micro financier is also looking to launch its initial public offering (IPO) in the next 12-15 months to help some of its investors sell their stakes.
“Some of our investors have been with us for more than a decade like Michael and Susan Dell Foundation and listing will allow for an easy way to exit. We are working towards a possible listing in the next 12 to 15 months, depending on regulatory approvals and market situation,” Manoj Kumar Nambiar, managing director of Arohan, said in an interview.
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Source: Livemint (link opens in a new window)
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