Bookbuilding IPO | ₹1,092 Cr | Listed at BSE, NSE | Wed, Nov 22, 2023 - Fri, Nov 24, 2023
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 per share. The lot size for an application is 107. The minimum amount of investment required by an retail is ₹14,980 (107 shares) (based on upper price). 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 Open
Wed, Nov 22, 2023
IPO Close
Fri, Nov 24, 2023
Issue Price
₹140 per share
Market Cap (Pre-IPO)
₹5,165.06 Cr
| IPO Date | 22 to 24 Nov, 2023 |
| Listed on | Thu, Nov 30, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹133 to ₹140 |
| Issue Price | ₹140 per share |
| Lot Size | 107 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹10.00 |
| Total Issue Size | 7,80,42,871 shares (agg. up to ₹1,092 Cr) |
| Fresh Issue | 4,28,95,082 shares (agg. up to ₹600 Cr) |
| Offer for Sale | 3,51,47,789 shares of ₹10 (agg. up to ₹492 Cr) |
| Share Holding Post Issue | 36,53,89,692 shares |
| BSE Script Code / NSE Symbol | 544027 / FEDFINA |
| ISIN | INE007N01010 |
Fedbank Financial 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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 107 shares and in multiples thereof.
| 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 |
Fedbank Financial IPO raises ₹324.68 crore from anchor investors. Fedbank Financial IPO Anchor bid date is November 21, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Nov 21, 2023 |
| Shares Offered | 2,31,91,374 |
| Anchor Portion (₹ Cr.) | 324.68 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Dec 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Feb 26, 2024 |
| 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 |
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.
| 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmenting our Company’s Tier –I capital base to meet our Company’s future capital requirements |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.60 | |
| P/E (x) | 25.04 | 23.97 |
| Promoter Holding | 72.28% | 62.40% |
| Market Cap | ₹5,165.06 Cr. |
The Fedbank Financial IPO is subscribed 2.24 times on November 24, 2023 7:02:00 PM (Day 3). The public issue subscribed 1.88 times in the retail category, 3.48 times in the QIB category, and 1.49 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 3.48 | 1,54,60,916 | 5,38,25,280 |
| NII | 1.49 | 1,15,95,687 | 1,73,04,575 |
| bNII (> ₹10L) | 1.27 | 77,30,458 | 97,79,800 |
| sNII (< ₹10L) | 1.95 | 38,65,229 | 75,24,775 |
| Retail | 1.88 | 2,70,56,603 | 5,07,90,653 |
| Employee | 1.34 | 8,13,008 | 10,92,577 |
| Total | 2.24 | 5,49,26,214 | 12,30,13,085 |
Total Applications: 3,65,909
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission) | 22.26 |
| 2 | Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids (other than Bids submitted by RIIs using the UPI Mechanism) procured by the Members of the Syndicate, the Registered Brokers, CRTAs or CDPs and submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Bank for Bids made by RIBs | 1.88 |
| 3 | Selling commission and uploading charges payable to Members of the Syndicate (including their Sub-Syndicate Members), RTAs, CDPs and Registered Brokers | 0.18 |
| 4 | Processing fees payable to the Sponsor Bank | |
| 5 | Fees payable to Registrar to the Offer | 0.08 |
| 6 | Printing and stationery expenses | 1.67 |
| 7 | Advertising and marketing expenses | 7.19 |
| 8 | Listing fees, SEBI fees, BSE and NSE processing fees, Book-building software fees, Fee payable to legal counsel, Miscellaneous | 14.24 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹140.00 | ₹140.00 |
| Open | ₹137.75 | ₹138.00 |
| Low | ₹133.15 | ₹133.00 |
| High | ₹148.00 | ₹148.25 |
| Last Trade | ₹140.00 | ₹140.25 |
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 Crores. The issue is priced at ₹140 per share. The minimum order quantity is 107.
The IPO opens on Wed, Nov 22, 2023, and closes on Fri, Nov 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 Wed, Nov 22, 2023 and closes on Fri, Nov 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 Wed, Nov 29, 2023. Check the Fedbank Financial IPO allotment status.
The Fedbank Financial IPO listing date is on Thu, Nov 30, 2023.
