Trilegal, one of India’s leading law firms, advised the Book Running Lead Managers DAM Capital, Motilal Oswal Investment Advisors, and SBI Capital Markets in the proposed IPO of Arohan Financial Services Limited. The IPO includes a fresh issue and an offer for sale.
Trilegal, India’s leading law firm, advised the Book Running Lead Managers DAM Capital, Motilal Oswal Investment Advisors, and SBI Capital Markets in connection with the proposed initial public offering (IPO) of Arohan Financial Services Limited, comprising a fresh issue of equity shares and an offer for sale by existing shareholders.
The proposed IPO includes:
- a fresh issue of equity shares aggregating to INR 6,000 million, and
- an offer for sale of up to 40,437,529 equity shares by existing shareholders.
Arohan Financial Services Limited is a technology-enabled non-banking financial company microfinance institution (NBFC-MFI).
The company provides income-generating loans and a range of financial inclusion products to underserved and unserved customers across rural and semi-urban India.
According to the CARE Report, Arohan is the second-largest NBFC-MFI in Eastern India by assets under management (AUM) as of December 31, 2025, and the ninth-largest NBFC-MFI in India by AUM, positioning it as one of the prominent players in the microfinance sector.
The Trilegal Capital Markets team was led by Bhakta Patnaik (Partner) and Albin Thomas (Partner). The team also included Somya Jena (Senior Associate), Janhavi Shah (Associate), Tushar Chitlangia (Associate), Sanskriti Singh (Associate), Adhish Mohanty (Associate), and Chaitali Chopdekar (Associate).