The FedFina date has been confirmed from November 22 and ended on November 24
The Federal Bank Limited is promoting Fedbank Financial Services (FedFina), a non-banking finance company (NBFC) with a retail focus. In FY 2023, it has the second-lowest borrowing cost in India’s peer set of micro, small, and medium-sized companies (MSMEs), gold loans, and MSME & gold loans.
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Bidding Dates
November 22 – 24
Price Range
₹133 to ₹140 per share
Face Value
₹10 per share
GMP
₹0
FedFina GMP
The FedFina IPO GMP is ₹[0 ].
IPO Overview
The IPO of Fedbank Financial Services raised a total of Rs 1,092.26 crores. This amount was generated through a combination of a fresh issue of 4.29 crore shares, which amounted to Rs 600.77 crores, and an offer for sale of 3.52 crore shares, which amounted to Rs 492.26 crores. The bidding for the Fedbank Financial Services IPO commenced on November 22, 2023, and concluded on November 24, 2023. The allotment of shares for this IPO was finalized on Tuesday, November 28, 2023. Subsequently, the shares were listed on both the BSE and NSE on November 30, 2023.
The price band for the Fedbank Financial Services IPO was set at ₹133 to ₹140 per share. For retail investors, the minimum lot size for an application was 107 shares, requiring a minimum investment of ₹14,980. As for sNII, the minimum lot size investment was 14 lots (1,498 shares), amounting to ₹209,720. For bNII, the minimum lot size investment was 67 lots (7,169 shares), totaling ₹1,003,660.
FedFina IPO Date & Price Band Details
| FedFina IPO Dates | 22 – 24 November 2023 |
| Fedbank IPO Price | ₹133 to ₹140 per equity |
| Fresh issue | INR 750 crore |
| Offer For Sale | 70,323,408 shares (INR 350 crore) |
| Total IPO size | INR 1,100 crores |
| Minimum bid (lot size) | Coming soon |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | BSE, NSE |
FedFina IPO Dates & Listing Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 658.11 | 821.89 | 1,110.17 |
| Expenses | 620.64 | 744.43 | 956.29 |
| Net income | 61.68 | 103.46 | 180.13 |
| Margin (%) | 9.37 | 12.59 | 16.23 |
Fedbank Financial Services Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 2.18 | 3.31 | 5.59 |
| PE ratio | – | – | – |
| RONW (%) | 7.39 | 8.97 | 13.29 |
| NAV | 28.79 | 35.88 | 42.11 |
| EBITDA (%) | 63.42 | 63.70 | 68.19 |
| Debt/Equity | – | – | – |
FedFina IPO Dates & Listing Performance
| Fedbank IPO Opening Date | 22 November 2023 |
| Fedbank IPO Closing Date | 24 November 2023 |
| Finalization of Basis of Allotment | 30 November 2023 |
| Initiation of refunds | 1 December 2023 |
| Transfer of shares to demat accounts | 4 December 2023 |
| FedFina IPO Listing Date | 5 December 2023 |
| Opening Price on NSE | Coming soon |
| Closing Price on NSE | Coming soon |
Company Profile
Fedbank Financial Services Limited, a subsidiary of The Federal Bank Limited, was established in 1995. The company offers a wide range of financial services including Gold Loans, Home Loans, Loan Against Property (LAP), and Business Loan Services. In terms of mortgage loans, the company provides housing loans, small ticket loans against property (LAP), medium ticket LAP, unsecured business loans, and gold loans. To cater to the diverse needs of its customers, Fedbank Financial Services has implemented a Phygital doorstep model. This innovative approach combines digital and physical initiatives to deliver personalized services across all its products. The company’s headquarters are
located in Mumbai, Maharashtra. As of June 30, 2023, Fedbank Financial Services has established its presence in 190 districts across 17 states and union territories in India. This extensive network is supported by 584 branches, which collectively employ 3,732 personnel. As of June 30, 2023, the company’s outstanding borrowings include ₹ 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.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91 810 811 4949 |
| Email ID | fedbankfinancialservices.ipo@linkintime.co.in |
| Website | www.linkintime.co.in |
Contact Details
| Name | FedFina Limited |
| Phone number | +91 22 6852 0601 |
| Email ID | cs@fedfina.com |
| Website | https://www.fedfina.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
