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Fedbank Financial IPO is a book build issue of ₹1,092.26 crores. The issue is a combination of fresh issue of 4.29 crore shares aggregating to ₹600.35 crores and offer for sale of 3.51 crore shares aggregating to ₹491.92 crores.
Fedbank Financial IPO bidding started from Nov 22, 2023 and ended on Nov 24, 2023. The allotment for Fedbank Financial IPO was finalized on Nov 28, 2023. The shares got listed on BSE, NSE on Nov 30, 2023.
Fedbank Financial IPO price band is set at ₹140.00 per share . The lot size for an application is 107. The minimum amount of investment required by an retail is ₹14,231 (107 shares). The lot size investment for sNII is 14 lots (1,498 shares), amounting to ₹2,09,720, and for bNII, it is 67 lots (7,169 shares), amounting to ₹10,03,660.
The issue includes a reservation of up to 7,69,230 shares for employees offered at a discount of ₹10.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Fedbank Financial IPO RHP for detailed Information.
| IPO Date | November 22, 2023 to November 24, 2023 |
| Listing Date | November 30, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹133 to ₹140 per share |
| Issue Price Final | ₹140 per share |
| Lot Size | 107 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 7,80,42,871 shares (aggregating up to ₹1,092.26 Cr) |
| Fresh Issue | 4,28,95,082 shares (aggregating up to ₹600.35 Cr) |
| Offer for Sale | 3,51,47,789 shares of ₹10 (aggregating up to ₹491.92 Cr) |
| Employee Discount | ₹10.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 36,53,89,692 shares |
Fedbank Financial Services IPO offers total 7,80,73,810 shares. Out of which 3,86,52,290 (49.51%) allocated to QIB, 1,54,60,916 (19.80%) allocated to QIB, 1,15,95,687 (14.85%) allocated to NII, 2,70,56,603 (34.66%) allocated to RII and 2,31,91,374 (29.70%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 3,86,52,290 (49.51%) | NA |
| − Anchor Investor Shares Offered | 2,31,91,374 (29.70%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,54,60,916 (19.80%) | NA |
| NII (HNI) Shares Offered | 1,15,95,687 (14.85%) | NA |
| − bNII > ₹10L | 77,30,458 (9.90%) | 5,160 |
| − sNII < ₹10L | 38,65,229 (4.95%) | 2,580 |
| Retail Shares Offered | 2,70,56,603 (34.66%) | 2,52,865 |
| Employee Shares Offered | 7,69,230 (0.99%) | NA |
| Total Shares Offered | 7,80,73,810 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Fedbank Financial IPO raises ₹324.68 crore from anchor investors. Fedbank Financial IPO Anchor bid date is November 21, 2023. Fedbank Financial IPO Anchor Investors list
| Bid Date | November 21, 2023 |
| Shares Offered | 2,31,91,374 |
| Anchor Portion Size (In Cr.) | 324.68 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 26, 2024 |
Fedbank Financial IPO opens on November 22, 2023, and closes on November 24, 2023.
| IPO Open Date | Wed, Nov 22, 2023 |
| IPO Close Date | Fri, Nov 24, 2023 |
| Tentative Allotment | Tue, Nov 28, 2023 |
| Initiation of Refunds | Tue, Nov 28, 2023 |
| Credit of Shares to Demat | Wed, Nov 29, 2023 |
| Tentative Listing Date | Thu, Nov 30, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Nov 24, 2023 |
Investors can bid for a minimum of 107 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,980 |
| Retail (Max) | 13 | 1,391 | ₹1,94,740 |
| S-HNI (Min) | 14 | 1,498 | ₹2,09,720 |
| S-HNI (Max) | 66 | 7,062 | ₹9,88,680 |
| B-HNI (Min) | 67 | 7,169 | ₹10,03,660 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1995, Fedbank Financial Services Limited a subsidiary of The Federal Bank Limited, provides Gold Loans, Home Loans, Loan Against Property (LAP), and Business Loan Services.
The company's product range includes mortgage loans such as housing loans; small ticket loans against property (LAP); medium ticket LAP, unsecured business loans, and gold loans. The company also has a Phygital doorstep model, a combination of digital and physical initiatives, for providing customized services to customers across all the products.
The company is headquartered in Mumbai, Maharashtra. As of June 30, 2023, Fedbank Financial Services has covered 190 districts in 17 states and union territories in India through 584 branches. As of June 30, 2023, the company has employed 3,732 personnel across the 584 branches.
As of June 30, 2023, the outstanding borrowings were ₹ 31,098.36 million from private sector banks, ₹ 28,320.72 million from public sector banks, ₹ 2,046.87 million from an NBFC, ₹ 1,500.00 million from a foreign bank, and ₹ 13,229.09 million from other entities.
Fedbank Financial Services Limited's revenue increased by 37.46% and profit after tax (PAT) rose by 74.11% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 9,412.51 | 9,070.99 | 6,555.71 | 5,466.31 |
| Total Income | 367.87 | 1,214.68 | 883.64 | 697.57 |
| Profit After Tax | 53.88 | 180.13 | 103.46 | 61.68 |
| Net Worth | 1,414.90 | 1,355.68 | 1,153.52 | 834.73 |
| Reserves and Surplus | 1,076.67 | 1,021.52 | 832.00 | 544.45 |
| Total Borrowing | 7,619.52 | 7,135.82 | 5,016.84 | 4,328.09 |
| Amount in ₹ Crore | ||||
The market capitalization of Fedbank Financial IPO is ₹5165.06 Cr.
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] FFSL has marked steady growth in its top and bottom lines for the reported periods. Federal Bank will continue to hold major stake post IPO. Financial service sector is set to play a vital role in speeding up the economy. Additional fund will pave the way for fast growth in coming years. Based on annualized FY24 earnings, the issue appears fully priced. Well-informed investors may park funds for the medium to long-term rewards. Read detail review...
| Listing Date | November 30, 2023 |
| BSE Script Code | 544027 |
| NSE Symbol | FEDFINA |
| ISIN | INE007N01010 |
| Final Issue Price | ₹140 per share |
| BSE Listing Group | B |
Fedbank Financial Services Ltd.
Kanakia Wall Street,
A Wing 5th Floor, Unit No. 511 Andheri Kurla Road,
Andheri (East) Mumbai 400 093
Andheri, Maharashtra
Phone: +91 22 6852 0601
Email: cs@fedfina.com
Website: https://www.fedfina.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: fedbankfinancialservices.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Fedbank Financial IPO is a main-board IPO of 7,80,42,871 equity shares of the face value of ₹10 aggregating up to ₹1,092.26 Crores. The issue is priced at ₹140 per share. The minimum order quantity is 107.
The IPO opens on November 22, 2023, and closes on November 24, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Fedbank Financial IPO using UPI as a payment gateway. Zerodha customers can apply in Fedbank Financial IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Fedbank Financial IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Fedbank Financial IPO opens on November 22, 2023 and closes on November 24, 2023.
Fedbank Financial IPO lot size is 107, and the minimum amount required for application is ₹14,980.
You can apply in Fedbank Financial IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Fedbank Financial IPO will be done on Tuesday, November 28, 2023, and the allotted shares will be credited to your demat account by Wednesday, November 29, 2023. Check the Fedbank Financial IPO allotment status.
The Fedbank Financial IPO listing date is on Thursday, November 30, 2023.
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