Tuesday
September 11
2018

Arohan Financial to  raise ₹ 3.5 billion, plans IPO in 12-15 months

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.

Photo courtesy of Mags’ pics for everyone.

Source: Livemint (link opens in a new window)

Categories
Investing
Tags
emerging markets, financial services, investors, microfinance, venture capital