“Our current IPO ticket validity comes to an end in the last week of April. Refiling for IPO certainly is an option as the market condition has improved,” Arohan managing director Manoj Kumar Nambiar told ET. “Even if we plan to seek fresh approval, the process cannot happen before mid-June. In the interim period, we may raise about ₹150 crore. We are discussing this with our existing investors,” Nambiar said.
The company plans to review the capital raising plan in its May 22 board meeting. The equity raising is likely to happen in the April-June quarter.
Investors who were earlier not keen to invest in microfinance companies due to the high post-pandemic stress may now look at them afresh with interest rate deregulations, which allowed lenders in the segment to raise lending rates.
