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SFBs are readying for listing

Five small finance banks are readying to come out with IPOs, estimated to be around Rs 4000 crore. Their decision follows the Reserve Bank of India’s deadline for their listing on the bourses is coming near. Small finance banks with a net worth of more than ₹500 crore were required to list within 3 years of launching operations. There are 10 small finance banks, which were given licenses in 2015 and at least 5 of them are required to float their IPOs as per this directive. The banks that have started work on their IPOs are Fincare Small Finance Bank and ESAF Small Finance Bank. Two other banks – Utkarsh Small Finance Bank is also in the process of finalizing the details. Two others, Equitas Small Finance Bank and Ujjivan Small Finance Bank had earlier listed their holding companies but RBI is now insisting that they list the banks separately. These and similar other institutions find that if they list the small finance bank (while the holding company is also listed) separately, then the holding company investors will see a loss of value in the shares.

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