Fedbank Financial Services IPO: The initial public offering (IPO) of Fedbank Financial Services opened for subscription on Wednesday, November 22, with a price band of Rs 133–Rs 140 per share and a lot size of 107 equity shares. The Fedbank Financial Services IPO was opened for subscription for three trading days and concluded on November 24 at 5 p.m. 

Here are some important things to know about the Fedbank Financial Services IPO:

Fedbank Financial Services IPO: Issue details

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The IPO is a book-built issue of Rs 1,092.26 crore. It is a combination of a fresh issue of 4.29 crore shares, aggregating to Rs 600.77 crore, and an offer for sale (OFS) of 3.52 crore shares, aggregating to Rs 492.26 crore.

Fedbank Financial Services IPO allotment date

The tentative date for the allotment of shares is November 28. 

Fedbank Financial Services IPO listing date

The Fedbank Financial Services IPO stock is likely to be listed on November 30 on the BSE and NSE.

Fedbank Financial Services IPO: Subscription status

On Friday, Fedbank Financial's share sale had received bids for 12,30,13,085 shares against 5,59,23,660 shares on offer, which means the issue was subscribed 2.20 times on the third day of the bidding process.

Category Subscription (No. of times the equity reserved)
Qualified institutional buyers  3.51
Non-institutional investors 1.45
Retail investors 1.82
Overall 2.20
Source: Exchange data

Fedbank Financial Services IPO: Book-running lead managers

ICICI Securities Limited, BNP Paribas, Equirus Capital Private Limited, and JM Financial Limited are the bookrunning lead managers of the Fedbank Financial Services IPO, while Link Intime India Private Ltd is the registrar for the issue.

Fedbank Financial Services IPO: Fund utilisation

The company intends to utilise the net proceeds 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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