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Fedbank Financial Services Limited IPO Detail

Fedbank Financial Services Limited IPO Detail

Fedbank Financial Services Limited provides Gold Loans, Home Loans, Loan Against Property (LAP) and Business Loan Services.

Fedbank is a retail-focused non-banking finance company (NBFC), with the second lowest cost of borrowing among the micro, small, and medium enterprises (MSMEs), gold loan, and MSME & gold loan peer set in India in Fiscal 2023. The company's clientele comes mainly from the MSME and emerging self-employed individuals (ESEI) sectors.

The company's product range includes mortgage loans such as housing loans; small ticket loans against property (LAP); and 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.

As of March 31, 2023, Fedbank Financial Services has offices in 191 districts in 16 states and union territories in India through 575 branches with a strong presence in Southern and Western regions of India including Andhra Pradesh (including Telangana) and Rajasthan.

Competitive Strengths:

  • Presence in large, underpenetrated markets with strong growth potential.
  • Focused on retail loan products with a collateralized lending model targeting individuals and the emerging MSME sector which is difficult to replicate.
  • Strong underwriting capability and presence in select customer segments combined with robust risk management capabilities focused on effective underwriting and collections.
  • Experienced, cycle-tested management team.
    • Well-diversified funding profile with the advantage of lower cost of funds - Technology-driven company with a scalable operating model

Company Promoters

The Federal Bank Limited

IPO Details

IPO Opening DateNov 22, 2023
IPO Closing DateNov 24, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹133 - 140 per equity share
Market Lot107 Shares
Min Order Quantity107 Shares
Listing AtBSE, NSE
Issue Size₹1,092.26 Cr
Fresh Issue₹600.77 Cr
Offer for Sale₹492.26 Cr
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.00x 0.07x 0.22x - 0.13x
Day 2 0.56x 0.54x 1.30x - 0.92x
Day 3 3.48x 1.49x 1.88x - 2.24x

IPO Tentative Timetable

The Fedbank Financial Services Limited IPO open date is Nov 22, 2023, and the close date is Nov 24, 2023. The issue may list on Nov 30, 2023.

IPO Open DateNov 22, 2023
IPO Close DateNov 24, 2023
Basis of Allotment DateNov 29, 2023
Initiation of RefundsNov 29, 2023
Credit of Shares to Demat AccountNov 29, 2023
IPO Listing DateNov 30, 2023

IPO Lot Size

The Fedbank Financial Services Limited IPO market lot size is 107 shares. A retail-individual investor can apply for up to 13 lots (1391 shares or ₹194740).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding72.28%
Post Issue Share Holding62.40%

Company Financials:

For the year/period ended (₹ in Cr.)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 5466.31 697.57 61.68
31-Mar-22 6555.71 883.64 103.46
31-Mar-23 9070.99 1214.68 180.13

Objects of the Issue:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. 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.
    1. Meeting offer expenses.

Fedbank Financial Services Limited IPO Registrar:

Link Intime India Private Ltd

Fedbank Financial Services Limited IPO Lead Manager(s):

ICICI Securities Limited Bnp Paribas Equirus Capital Private Limited Jm Financial Limited

Company Contact Information:

Fedbank Financial Services Limited

Kanakia Wall Street,

A Wing 5th Floor, Unit No. 511 Andheri Kurla Road,

Andheri (East) Mumbai 400 093