Fedbank Financial Services Limited IPO is set to launch on 22 November, 2023. The company is involved in the business of providing Home loans, Gold Loans, Business Loan Services, Loan Against properties etc. The company has the second lowest cost of borrowing in the NBFC segment among the small, micro and medium enterprises, gold loan etc. The products of the firm include small ticket loans against property, housing loan, medium ticket LAP, gold loans, unsecured business loans. As of now the company has its offices in 191 districts and 16 states. The total no. of branches that the company has are 575. It has a strong presence in Rajasthan and Andhra Pradesh.
Fedbank Financial Services Limited IPO DETAILS
Fedbank Financial Services Limited IPO is set to launch on 22 November, 2023. The subscription timeline extends till 24 November, 2023. The size for the IPO is 1092.26 Crore Rs. Shares issued through fresh issue mode are worth Rs 600.77 Crore Rs. Shares issued through offer for sale mode are worth Rs 492.26 Crore. The lot size is 107 shares and the price is 133 Rs to 140 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of Fedbank Financial Services Limited IPO
| IPO OPENING DATE | 22 November, 2023 |
| CLOSING DATE FOR IPO | 24 November, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 133 Rs. to 140 Rs. per share |
| LOT SIZE | 107 shares |
| MINIMUM ORDER QUANTITY | 107 shares |
| ISSUE SIZE | 1092.26 Crore Rs. |
| OFFER FOR SALE | 492.26 Crore Rs. |
| FRESH ISSUE | 600.77 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 5 December, 2023 |
Fedbank Financial Services Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 22 November, 2023 |
| CLOSING DATE FOR IPO | 24 November, 2023 |
| IPO ALLOTMENT DATE | 30 November, 2023 |
| REFUNDS | 1 December, 2023 |
| DEMAT A/C CREDITED ON | 4 December, 2023 |
| IPO LISTING DATE | 5 December, 2023 |
Fedbank Financial Services Limited IPO begins for subscription from 22 November, 2023. The IPO subscription would continue till 24 November, 2023. The allotment status for the shareholders who applied would come on 30 November, 2023. The refunds for the ones who did not get allotment would be initiated on 1 December, 2023. The DEMAT accounts of shareholders would be credited on 4 December, 2023. The listing of the company would be completed on 5 December, 2023.
Fedbank Financial Services Limited IPO : Lead Managers
The lead managers are :
- BNP Paribas
- ICICI Securities Limited
- JM Financial Limited
- Equirus Capital Private Limited
The minimum lot size for the company is decided at 107 shares. This holding accounts to 14980 Rs.. The maximum lot size is decided at 1391 shares. This amounts to 194740 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 107 shares | 14980 Rs. |
| Maximum | 1391 shares | 194740 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 5466 | 6555 | 9070 |
| Revenue | 697 | 883 | 1214 |
| PAT | 61 | 103 | 180 |
Fedbank Financial Services Limited had an asset base of 5466 Crore Rs in 2021. This increased to 6555 Crore Rs in the year 2022 and 9070 Crore Rs in the year 2023. The revenue of the firm was 697 Crore Rs in the year 2021, 883 Crore Rs in the year 2022 and 1214 Crore Rs in the year 2023. The profit of the firm was 61 Crore Rs in 2021 which increased to 103 Crore Rs in 2022 and 180 Crore Rs in 2023.
PROS
- The company has the second lowest cost of borrowing in the NBFC segment among the small, micro and medium enterprises, gold loan etc.
- The products of the firm include small ticket loans against property, housing loan, medium ticket LAP, gold loans, unsecured business loans.
- As of now the company has its offices in 191 districts and 16 states. The total no. of branches that the company has are 575.
- It has a strong presence in Rajasthan and Andhra Pradesh.
CONS
- The company works in a highly competitive segment.
Fedbank Financial Services Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Fedbank Financial Services Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
