Fedbank Financial Services Limited IPO (Fedbank Financial Services IPO) Details
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 bidding started from November 22, 2023 and ended 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 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.
The issue includes a reservation of up to 813,008 shares for employees offered at a discount of Rs 10 to the issue price.
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.
Refer to Fedbank Financial Services IPO RHP for detailed information.
Fedbank Financial Services IPO Details
| IPO Date | November 22, 2023 to November 24, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹133 to ₹140 per share |
| Lot Size | 107 Shares |
| Total Issue Size | 78,073,810 shares (aggregating up to ₹1,092.26 Cr) |
| Fresh Issue | 42,912,087 shares (aggregating up to ₹600.77 Cr) |
| Offer for Sale | 35,161,723 shares of ₹10 (aggregating up to ₹492.26 Cr) |
| Employee Discount | Rs 10 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 322,477,605 |
| Share holding post issue | 365,389,692 |
Fedbank Financial Services IPO Reservation
Fedbank Financial Services IPO offers 78,117,588 shares. 15,460,916 (19.79%) to QIB, 11,595,687 (14.84%) to NII, 27,056,603 (34.64%) to RII, 813,008 (1.04%) to employees and 23,191,374 (29.69%) to Anchor investors. 252,865 RIIs will receive minimum 107 shares and 2,580 (sNII) and 5,160 (bNII) will receive minimum 1,498 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 23,191,374 (29.69%) | NA |
| QIB Shares Offered | 15,460,916 (19.79%) | NA |
| NII (HNI) Shares Offered | 11,595,687 (14.84%) | |
| bNII > ₹10L | 7,730,458 (9.90%) | 5,160 |
| sNII < ₹10L | 3,865,229 (4.95%) | 2,580 |
| Retail Shares Offered | 27,056,603 (34.64%) | 252,865 |
| Employee Shares Offered | 813,008 (1.04%) | NA |
| Total Shares Offered | 78,117,588 (100%) |
Fedbank Financial Services IPO Anchor Investors Details
Fedbank Financial Services IPO raises Rs 324.68 crore from anchor investors. Fedbank Financial Services IPO Anchor bid date is November 21, 2023. Fedbank Financial Services IPO Anchor Investors list
| Bid Date | November 21, 2023 |
| Shares Offered | 23,191,374 |
| Anchor Portion Size (In Cr.) | 324.68 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 5, 2024 |
Fedbank Financial Services IPO Timeline (Tentative Schedule)
Fedbank Financial Services IPO opens on November 22, 2023, and closes on November 24, 2023.
| IPO Open Date | Wednesday, November 22, 2023 |
| IPO Close Date | Friday, November 24, 2023 |
| Basis of Allotment | Thursday, November 30, 2023 |
| Initiation of Refunds | Friday, December 1, 2023 |
| Credit of Shares to Demat | Monday, December 4, 2023 |
| Listing Date | Tuesday, December 5, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 24, 2023 |
Fedbank Financial Services IPO Lot Size
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 IPO Promoter Holding
The Federal Bank Limited is the promoter of the company.
| Share Holding Pre Issue | 72.28% |
| Share Holding Post Issue | 62.40% |
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About Fedbank Financial Services Limited
Fedbank Financial Services Limited a subsidiary of The Fedral Bank 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); 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.
Competitive Strengths:
- Presence in large, underpenetrated markets with strong growth potential.
- Focused on retail loan products with a collateralized lending model targeting individuals and the emerging MSME sector which is difficult to replicate.
- Strong underwriting capability and presence in select customer segments combined with robust risk management capabilities focused on effective underwriting and collections.
- Experienced, cycle-tested management team.
- Well-diversified funding profile with the advantage of lower cost of funds - Technology-driven company with a scalable operating model
Special Offer: Invest without brokerage fees in Equity Delivery and Direct Mutual Funds. Pay a flat Rs 20 per trade for Intra-day and F&O. Open an instant account with Zerodha and start trading today.
Fedbank Financial Services Limited Financial Information (Restated)
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 |
| Revenue | 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 | ||||
Key Performance Indicator
Fedbank Financial Services IPO Market Cap is Rs 5165.06 Cr and P/E (x) is 25.04.
| KPI | Values |
|---|---|
| P/E (x) | 25.04 |
| Post P/E (x) | 23.97 |
| Market Cap (₹ Cr.) | 5165.06 |
| ROE | 14.36% |
| EPS (Rs) | 5.6 |
| RoNW | 13.29% |
Objects of the Issue (Fedbank Financial Services IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Augmenting the company's Tier I capital base to meet the company's future capital requirements, arising from the growth of the business and assets.
- Meeting offer expenses.
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Fedbank Financial Services IPO Subscription Status (Bidding Detail)
The Fedbank Financial Services IPO is subscribed 2.24 times on November 24, 2023 7:02:00 PM. 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 (times) |
|---|---|
| QIB | 3.48 |
| NII | 1.49 |
| bNII (bids above ₹10L) | 1.27 |
| sNII (bids below ₹10L) | 1.95 |
| Retail | 1.88 |
| Employee | 1.34 |
| Total | 2.24 |
Total Application : 365,909 (2.63 times)
Fedbank Financial Services IPO Prospectus
Fedbank Financial Services Limited Contact Details
Fedbank Financial Services Limited
Kanakia Wall Street,
A Wing 5th Floor, Unit No. 511 Andheri Kurla Road,
Andheri (East) Mumbai 400 093
Phone: +91 22 6852 0601
Email: cs@fedfina.com
Website: https://www.fedfina.com/
Fedbank Financial Services IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: fedbankfinancialservices.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
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Fedbank Financial Services IPO GMP
GMP for Fedbank Financial Services IPO has not started yet. We are updating the GMP information on a daily basis. Please visit us again soon for the latest GMP updates.
We update GMP on a daily basis and based on last 19 sessions grey market activities, today IPO GMP points downward and expects to drop more. The lowest GMP is ₹0, while the highest GMP is ₹10. Stay with us to know the daily price trend of Fedbank Financial Services IPO GMP with expected listing price.
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Fedbank Financial Services Day-wise IPO GMP Trend
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 26-11-2023 | 140.00 | ₹0  | -- | ₹140 (0%) | 26-Nov-2023 12:27 |
| 25-11-2023 | 140.00 | ₹0  | -- | ₹140 (0%) | 25-Nov-2023 23:29 |
| 24-11-2023 Close | 140.00 | ₹2 | 200/2800 | ₹142 (1.43%) | 24-Nov-2023 23:32 |
| 23-11-2023 | 140.00 | ₹2 | 200/2800 | ₹142 (1.43%) | 23-Nov-2023 23:24 |
| 22-11-2023 Open | 140.00 | ₹5 | 400/5600 | ₹145 (3.57%) | 22-Nov-2023 23:28 |
| 21-11-2023 | 140.00 | ₹5 | 400/5600 | ₹145 (3.57%) | 21-Nov-2023 23:28 |
| 20-11-2023 | 140.00 | ₹5 | 400/5600 | ₹145 (3.57%) | 20-Nov-2023 23:27 |
| 19-11-2023 | 140.00 | ₹8 | 700/9800 | ₹148 (5.71%) | 19-Nov-2023 23:29 |
| 18-11-2023 | 140.00 | ₹8 | 700/9800 | ₹148 (5.71%) | 18-Nov-2023 23:23 |
| 17-11-2023 | 140.00 | ₹10  | 800/11200 | ₹150 (7.14%) | 17-Nov-2023 23:29 |
IPO grey market premium (GMP)
The grey market premium (GMP) is the price at which an IPO is traded in an unofficial/unregulated grey market prior to its listing. The GMP reflects how a particular company’s IPO issue might react on the day of listing. A positive GMP premium signals that the IPO is likely to be at profit while a negative GMP indicates that the IPO is likely to be at a discount.
It should be noted that IPO GMP is subject to extreme volatility, so an investment decision based solely on Fedbank Financial Services IPO GMP will prove risky. Therefore, before to investing, consider all factors and make the right investment decision whether to invest in Fedbank Financial Services IPO or not.
Fedbank Financial Services IPO FAQs
The GMP of Fedbank Financial Services IPO is not trending in opem market.The Fedbank Financial Services IPO GMP (Grey Market Premium) is the rate of premium, on which, the IPO is trading in the grey market or over-the-counter (OTC) market or off-exchange trading between two persons. The GMP price last updated on Nov 26th 2023 12:27 PM.
The GMP for Fedbank Financial Services IPO is not trending. Estimated listing price is not available now. Please visit us after some time.
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.
Zerodha customers can apply online in Fedbank Financial Services IPO using UPI as a payment gateway. Zerodha customers can apply in Fedbank Financial Services IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Fedbank Financial Services IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the 'Fedbank Financial Services IPO' row and click the 'Bid' button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
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.
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 Fedbank Financial Services IPO allotment status.
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