Sebi returns draft papers of BVG India, Fincare Small Finance Bank
Markets regulator Sebi has returned the preliminary IPO papers of two companies -- BVG India and Fincare Small Finance Bank India.
Integrated services company BVG India Ltd had filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in September 2021 to raise funds through an initial public offering (IPO).
The firm's proposed IPO comprises fresh issue of equity shares worth up to Rs 200 crore and an offer-for-sale (OFS) of up to 71,96,214 shares by promoters and private equity investor 3i Group.
In another update on Sebi's website, the markets watchdog has returned the draft papers of Fincare Small Finance Bank.
Last year in August, the company had refiled its preliminary papers with markets regulator to raise funds through IPO as Sebi's one-year approval given to the lender to launch the issue expired in July.
Under the rules, a firm gets one year to hit the primary market after receiving an approval from Sebi.
In case a firm fails to