Arohan Financial Services Files DRHP With SEBI

Arohan Financial Services Limited has submitted the Draft Red Herring Prospectus (DRHP) for its book-building IPO with the Securities and Exchange Board of India (SEBI) on May 15, 2026. 

As per the DRHP, the IPO will be a 100% book-built issue comprising a Fresh issue of ₹600 crore and an offer for sale (OFS) of 40,437,529 equity shares, each with a face value of ₹10. The shares are proposed to be listed on the NSE and BSE.

Specific details of the price band, lot size, Anchor Investor bidding date, and public subscription opening and closing dates are yet to be announced.

Limited IPO - Issue Details

• Issue Type: Book Building IPO
• Fresh Issue: Agg. up to ₹600 crore 
• Offer for sale (OFS): Up 40,437,529 equity shares
• Face Value: ₹ 10 per equity share
• Price Band: To be announced
• Lot Size: To be announced
• Listing: NSE, BSE
• Book Building Lead Managers:  DAM Capital Advisors Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited. 
• Registrar: MUFG Intime India Private Limited (Formerly Link Intime India Private Limited)

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Utilisation of Proceeds

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards the following purposes:

• Augmenting its capital base to meet the Company's future business requirements for onward lending.
• General Corporate Purposes.

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About Arohan Financial Services Limited

Arohan Financial Services is a technology-enabled non-banking financial company - microfinance institution (NBFC-MFI) offering income-generating loans and a suite of financial and non-financial products to underserved and unserved customers primarily across rural and semi-urban states in India with limited or no access to formal financial services. 

Its financial offerings include credit and insurance products, while its non-financial offerings include cross-selling products such as inverter bulbs, consumer durables, kitchen appliances, bicycles, and other household items through partner agencies. 

As of December 31, 2025, Arohan Financial Services has 1.95 million active customers, of whom 76.82% are in rural and semi-urban areas across 17 states in India. Women constitute the primary customer base, representing more than 93.57% of its total customers. The company also caters to traders and micro, small and medium enterprises (“MSMEs”).

For the period ended December 31, 2025, the company recorded AUM of ₹ 6,308 crore, EBITDA of ₹ 470.7 crore, and profit after tax of ₹ 60.7 crore.

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