Arohan Financial Services, a prominent non-bank finance firm in India, has filed draft papers for an initial public offering (IPO) aiming to raise ₹600 crore (approximately $62 million). This decision comes in the wake of the Reserve Bank of India lifting previous lending restrictions imposed on the company due to concerns over high interest rates. The IPO will involve the issuance of new shares, while existing investors plan to sell up to 40.4 million shares. Notably, Teachers Insurance and Annuity Association, which holds a 12.06% stake in Arohan, is set to offload about 9.7 million shares, while the Michael & Susan Dell Foundation will sell 874,614 shares from its 2.05% stake. Despite a challenging financial landscape, with Arohan reporting a 65% drop in profits for the fiscal year ending March 31, 2025, the company’s net interest income grew by nearly 13%. The proceeds from the IPO are intended to strengthen the company’s capital base. The offering is being facilitated by DAM Capital Advisors, Motilal Oswal Investment Advisors, and SBI Capital Markets, amid a fluctuating IPO sentiment in the Indian market.