Fedbank Financial Services IPO: NBFC company to hit capital market to raise ~INR 1,068 crores through public issue

Fedbank Financial Services is into Financial Services NBFC and is looking raise funds through Fresh Issue and Offer for Sale

Fedbank Financial Services to raise Fresh Issue aggregating up to Rs 750 crores and an Offer for Sale up to 70,323,408 Equity Shares through public issue IPO

Fedbank Financial Services IPO Update:

Fedbank Financial Services Limited IPO: Mumbai based Fedbank Financial Services Limited established in the year 1993 and is into Financial Services - NBFC sector.

Company is promoted by The Federal Bank Limited. Pre-Offer Promoter and Promoter group stake in the company is 72.28%.

Fedbank Financial Services Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 1,092 Crores calculated on upper price band (face value of INR 10 per share) via initial public offering.

Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 750 crores and an Offer for Sale up to 70,323,408 Equity Shares ICICI Securities, BNP Paribas, Equirus Capital, JM Financial have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.

Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 133 to Rs 140 with lot size of 107 shares and in multiples thereof. Objects of the issue is For augmentation of our Company’s Tier –I capital base to meet Company’s future capital requirements., Proposes to utilize the Net Proceeds of the Fresh Issue to maintain the minimum capital adequacy ratio and to meet future capital requirements arising out of the growth in business and not for any specified projects..

IPO Dates:

IPO will open on November 22, 2023 and close on November 22, 2023. Tentative date of listing on stock exchanges is December 05, 2023

Want to know more details about the IPO, please visit here Fedbank Financial Services Limited

Source: SEBI, BSE, NSE, DRHP, Fedbank Financial Services, Industry Data

Disclaimer: Above article only publishes details about the IPO and for educational purpose only. It doesn't solicit or invite any interest to invest in any kind of securities. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.