Read on the application
FedBank Financial Services IPO: Shares of Fedbank Financial Services Limited were listed today, Thursday 30 November. The company’s shares had a very weak opening. Shares of FedBank Financial Services Ltd fell 1.61% on the BSE to Rs. was listed at 137.7. Shares of FedBank Financial Services were trading at ₹133.55 after listing, 4.61% below the issue price and 3.15% below the listing price. On NSE this share is Rs. is trading at 136.10. This is a 1.38% discount to the issue price. Let us tell you that the price band of FedBank Financial Services IPO was fixed between ₹133 to ₹140.
What are the details?
The FedBank Financial Services IPO opened for subscription on Wednesday, November 22 and closed on Friday, November 24. FedBank Financial Services’ IPO was oversubscribed 2.24 times. As on November 24, 2023 (3rd day), the issue was subscribed 1.88 times in retail category, 3.48 times in QIB and 1.49 times in NII category. Federal Bank The IPO comprises a fresh issue of equity shares of up to ₹600 crore and an offer for sale (OFS) of up to 35,161,723 equity shares by the promoters to the promoter group.
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About the company
Federal Bank Limited is the promoter of FedBank Financial Services, a non-banking finance company (NBFC) focusing on the retail sector. According to a CRISIL report, the cost of borrowing in gold loans to micro, small and medium-sized enterprises (MSME) from FedBank Financial Services is the second and third lowest in FY2023 and the three months ending June 30, 2023. . Based on the CRISIL report, as on March 31, 2023, the NBFC is among the NBFCs in the Indian peer set for Assets Under Management (AUM) growth, with a three-year compound annual growth rate (CAGR) of 33%. The financial year is in third place.