Fedbank Financial Services IPO opens for subscription on November 22, 2023 and closes on November 24, 2023. The allotment for the Fedbank Financial Services IPO is expected to be finalized on Thursday, November 30, 2023. Fedbank Financial Services IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, December 5, 2023.
Fedbank Financial Services IPO is a book built issue of Rs 1,092.26 crores. The issue is a combination of fresh issue of 4.29 crore shares aggregating to Rs 600.77 crores and offer for sale of 3.52 crore shares aggregating to Rs 492.26 crores.
Fedbank Financial Services IPO price band is set at ₹133 to ₹140 per share. The minimum lot size for an application is 107 Shares. The minimum amount of investment required by retail investors is ₹14,980. The minimum lot size investment for sNII is 14 lots (1,498 shares), amounting to ₹209,720, and for bNII, it is 67 lots (7,169 shares), amounting to ₹1,003,660. ICICI Securities Limited, Bnp Paribas, Equirus Capital Private Limited and Jm Financial Limited are the book running lead managers of the Fedbank Financial Services IPO, while Link Intime India Private Ltd is the registrar for the issue.
| IPO Opening Date | November 22, 2023 |
|---|---|
| IPO Closing Date | November 24, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per share |
| IPO Price | ₹133 to ₹140 per share |
| Market Lot | 107 Shares |
| Min Order Quantity | 107 Shares |
| Listing At | BSE, NSE |
| Employee Discount | ₹75 per share |
| Fresh Issue | 78,073,810 shares (aggregating up to ₹1,092.26 Cr) |
| Offer for Sale | 35,161,723 shares of ₹10 (aggregating up to ₹492.26 Cr) |
| Share holding pre issue | 322,477,605 |
| Share holding post issue | 365,389,692 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 35% of the Net Issue |
| Retail Shares Offered | Not less than 15% of the Net Issue |
Fedbank Financial Services IPO opens on November 22, 2023, and closes on November 24, 2023.
| Basis of Allotment Date | November 30, 2023 |
|---|---|
| Initiation of Refunds | December 1, 2023 |
| Credit of Shares to Demat Account | December 4, 2023 |
| IPO Listing Date | December 5, 2023 |
Investors can bid for a minimum of 107 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | ₹14,980 |
| Retail (Max) | 13 | 1391 | ₹194,740 |
| S-HNI (Min) | 14 | 1,498 | ₹209,720 |
| S-HNI (Max) | 66 | 7,062 | ₹988,680 |
| B-HNI (Min) | 67 | 7,169 | ₹1,003,660 |
Fedbank Financial Services Limited provides Gold Loans, Home Loans, Loan Against Property (LAP) and Business Loan Services.
Fedbank is a retail-focused non-banking finance company (NBFC), with the second lowest cost of borrowing among the micro, small, and medium enterprises (MSMEs), gold loan, and MSME & gold loan peer set in India in Fiscal 2023. The company's clientele comes mainly from the MSME and emerging self-employed individuals (ESEI) sectors.
The company's product range includes mortgage loans such as housing loans; small ticket loans against property (LAP); and 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.
As of March 31, 2023, Fedbank Financial Services has offices in 191 districts in 16 states and union territories in India through 575 branches with a strong presence in Southern and Western regions of India including Andhra Pradesh (including Telangana) and Rajasthan.
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Fedbank Financial Services IPO is a main-board IPO of 78,073,810 equity shares of the face value of ₹10 aggregating up to ₹1,092.26 Crores. The issue is priced at ₹133 to ₹140 per share. The minimum order quantity is 107 Shares.
The IPO opens on November 22, 2023, and closes on November 24, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Fedbank Financial Services IPO opens on November 22, 2023 and closes on November 24, 2023.
Fedbank Financial Services IPO lot size is 107 Shares, and the minimum amount required is ₹14,980.
You can apply in Fedbank Financial Services IPO online using either UPI or ASBA as 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.
The finalization of Basis of Allotment for Fedbank Financial Services IPO will be done on Thursday, November 30, 2023, and the allotted shares will be credited to your demat account by Monday, December 4, 2023.
Check the IPO allotment status.
The Fedbank Financial Services IPO listing date is December 5, 2023.
To Bid online, you need
Demat Account and Pan card.
Login to SMC account and
select the Fedbank Financial Services IPO
Enter UPI Id & Mobile number
Place your number of bids
with the exchange
A UPI mandate is sent to your
UPI App to block your funds.