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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 Fedbank Financial Services IPO was finalized on Tuesday, November 28, 2023. The shares got listed on BSE, NSE on November 30, 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.
| IPO Date | November 22, 2023 to November 24, 2023 |
| Listing Date | November 30, 2023 |
| 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 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 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) | December 28, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 26, 2024 |
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 | Tuesday, November 28, 2023 |
| Initiation of Refunds | Tuesday, November 28, 2023 |
| Credit of Shares to Demat | Wednesday, November 29, 2023 |
| Listing Date | Thursday, November 30, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 24, 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 |
| Lot Size Calculator | |||
The Federal Bank Limited is the promoter of the company.
| Share Holding Pre Issue | 72.28% |
| Share Holding Post Issue | 62.40% |
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 |
| 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 | ||||
The market capitalization of Fedbank Financial Services IPO is Rs 5165.06 Cr.
| KPI | Values |
|---|---|
| ROE | 14.36% |
| RoNW | 13.29% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.6 | |
| P/E (x) | 25.04 | 23.97 |
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...
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)
| Listing Date | November 30, 2023 |
| BSE Script Code | 544027 |
| NSE Symbol | FEDFINA |
| ISIN | INE007N01010 |
| Final Issue Price | ₹140 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹140.00 |
| ₹137.75 |
| ₹133.15 |
| ₹148.00 |
| ₹140.00 |
| NSE |
|---|
| ₹140.00 |
| ₹138.00 |
| ₹133.00 |
| ₹148.25 |
| ₹140.25 |
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/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: fedbankfinancialservices.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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 Zerodha IPO Application Process Review for more detail.
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. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Fedbank Financial Services 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 Services IPO allotment status.
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Sales : 398 Cr , up from 361 Cr Q1 FY24
PAT : 58 Cr, up from 54 Cr Q1 FY24
RoA : Stable at above 2%
Constant increase in AUM, reaching its highest till date mark and increase in number of branches with steady NPA numbers is reported.
Expect the stock to rise tomorrow post these results.
@OK Google