Fedbank Financial Services IPO is going to be released by the end of November. The company provides different types of loans like home loans, property loans, and business loans. We will discuss the performance of the company in the previous year and its IPO details. The company’s performance is impressive. They are already attracting good investors for the fundraising. The IPO will be listed on both NSE and BSE. Let us have a look at Fedbank Financial Services IPO Details Below.
Fedbank Financial Services IPO Date, Price Band, GMP Details, Know Should You Apply?
Fedbank Financial Services IPO will be released from 22 November 2023 to 24 November 2023. The listing date of the shares is yet to be announced. IPO will provide a face value of Rs. 10 per share, a lot size of Rs. 107 shares with a shareholding price of 322,477,605. The price band of the shares will be from Rs. 133 to Rs. 140 per share.
A total of shares worth Rs. 1,092.26 crores will be issued. The fresh shares will be worth Rs. 600 crores and Offer for Sale shares will be 35,161,723 shares. Let us now talk about the percentage and distribution of shares. Fedbank Financial Services IPO will be distributed among QIB, Retail, and NII or HNI. The QIB will have 50%+ shares, followed by Retail with 35% shares, NII or HNI with 15% shares.
The IPO will open on 22 November 2023 Wednesday and close on 24 November 2023 Friday. The shares will be alloted on 30 November 2023 with refunds initiated from 1 December 2023. The IPO will be listed by 5 December 2023. You will get a minimum bid of Rs. 14,980. Let us have more details about the company and its utilization of the money.
The funding raised will be used to look at the capital requirements of the Tier I capital base. The bank supports NBFC in India. It helps the MSMEs as these are the ones in actual need for the loans and it is often difficult to get a loan as a small business owner. It helps all the small businesses to grow their business and also supports those looking for a housing loan.
The previous year’s results of the company were appreciable. The revenue from Apr 2022 to March 2023 was Rs. 1,178.8. On the other hand, the net profit of the company was Rs. 1,801 Crores. Stay tuned for more information.