Fedbank Financial Services IPO is a Rs 1,092.26 crore book-built issue. The offering consists of a fresh issue of 4.29 crore shares worth Rs 600.77 crores and an offer for sale of 3.52 crore shares worth Rs 492.26 crores.
Fedbank Financial Services IPO bidding began on November 22, 2023 and will end on November 24, 2023. The Fedbank Financial Services IPO allotment is expected to be completed on Thursday, November 30, 2023. Fedbank Financial Services’ first public offering (IPO) will be listed on the BSE and NSE on Tuesday, December 5, 2023.
The pricing range for Fedbank Financial Services’ IPO is set at 133 to 140 per share. An application requires a minimum lot size of 107 Shares. Retail investors must make a minimum investment of $14,980. The minimum lot size for sNII is 14 lots (1,498 shares), which amounts to $209,720, and for bNII, it is 67 lots (7,169 shares), which amounts to $1,003,660.
The offering includes a reserve of up to 813,008 shares for workers at a Rs 10 reduction from the issue price.
Fedbank Financial Services IPO
| IPO Date | November 22, 2023 to November 24, 2023 |
| Listing Date | [.] |
| Face Value | Rs 10 per share |
| Price Band | Rs 133 to Rs 140 per share |
| Lot Size | 107 Shares |
| Total Issue Size | 78,073,810 shares (aggregating up to Rs 1,092.26 Cr) |
| Fresh Issue | 42,912,087 shares (aggregating up to Rs 600.77 Cr) |
| Offer for Sale | 35,161,723 shares of Rs 10 (aggregating up to Rs 492.26 Cr) |
| Employee Discount | Rs 10 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 322,477,605 |
| Share holding post issue | 365,389,692 |
Fedbank Financial Services IPO Timeline
| IPO Open Date | Wednesday, November 22, 2023 |
| IPO Close Date | Friday, November 24, 2023 |
| Basis of Allotment | Thursday, November 30, 2023 |
| Initiation of Refunds | Friday, December 1, 2023 |
| Credit of Shares to Demat | Monday, December 4, 2023 |
| Listing Date | Tuesday, December 5, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 24, 2023 |
Fedbank Financial Services IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 107 | Rs 14,980 |
| Retail (Max) | 13 | 1391 | Rs 194,740 |
| S-HNI (Min) | 14 | 1,498 | Rs 209,720 |
| S-HNI (Max) | 66 | 7,062 | Rs 988,680 |
| B-HNI (Min) | 67 | 7,169 | Rs 1,003,660 |
