Usha Financial Services Gears Up for IPO to Raise Rs 98.45 Crore

Usha Financial Services Limited, an NBFC in India, is set to launch its IPO on October 24, 2024, aiming to raise Rs 98.45 Crore. The funds raised will bolster the company's capital base and support various strategic initiatives. The shares will be listed on the NSE Emerge platform.

Usha Financial Services Limited, operating as a non-banking finance company in Mumbai, is gearing up for its Initial Public Offering (IPO) set to commence on October 24, 2024. The company aims to raise Rs 98.45 Crore with shares to be listed on the NSE Emerge platform.

The IPO will offer up to 58,60,000 equity shares at a face value of Rs 10 each. Allocation includes portions for Qualified Institutional Buyers, Non-Institutional Investors, Retail Investors, and Market Makers. The funds are intended to enhance the company's capital structure, cover general corporate expenditures, and manage issue-related costs.

Rajesh Gupta, Managing Director of Usha Financial Services, highlighted the company's diversified financial offerings, including targeted lending for NBFCs, MSMEs, and women entrepreneurs. The IPO marks a significant milestone, aiming to fortify Usha Financial's market presence and spearhead its growth agenda.

(With inputs from agencies.)