Fedbank Financial Services IPO: The share allotment of Fedbank Financial Services IPO, which was opened for public subscription between November 22 and November 24, has been finalised today, Wednesday. Investors can now check their allotment status on Link Intime India’s website as well as on BSE. Fedbank Financial Services or Fedfina is a a subsidiary of Federal Bank.
The listing of the Rs 1,092-crore IPO is likely to take place on Thursday, November 30, on the BSE and NSE. The IPO received a 2.24 times subscription. The price range was fixed Rs 133-140 a share.
Fedbank Financial Services IPO GMP
According to market observers, unlisted shares of Fedbank Financial Services continue to trade at a zero premium, indicating no gains on listing. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Fedbank Financial Services IPO: How To Check Allotment Status
Here’s how you can check Fedbank Financial Services IPO allotment status via BSE website:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Fedbank Financial Services Limited’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and check the Fedbank Financial Services Limited IPO allotment status.
Fedbank Financial Services IPO Details
The initial public offer of Fedbank Financial Services (Fedfina), a subsidiary of Federal Bank, was subscribed 2.20 times in total. The IPO received bids for 12,30,12,764 shares against 5,59,23,660 shares on offer between November 22 and November 24.
The portion for qualified institutional buyers (QIBs) subscribed 3.51 times, while the retail individual investors (RIIs) quota received 1.82 times subscription. The category for non-institutional investors subscribed 1.45 times. The IPO had a fresh issue of up to Rs 600 crore and an offer for sale of up to 35,161,723 equity shares.
The price range for the offer was Rs 133-140 a share. Fedbank Financial Services collected Rs 325 crore from anchor investors.
The issue was a combination of a fresh issue of 4.29 crore shares aggregating to Rs 600.77 crore and an Offer For Sale (OFS) of 3.52 crore shares worth Rs 492.26 crore. Under the OFS, Federal Bank offloaded 1.65 crore shares and True North Fund VI LLP divested 5.38 crore shares.
Fedfina proposes to utilise the net proceeds from the fresh issue towards augmenting the Tier-I capital base to meet its future capital requirements and offer expenses. ICICI Securities, BNP Paribas, Equirus Capital and JM Financial were the book-running lead managers of the offer.
On Monday, Fedbank Financial Services raised Rs 330 crore in a pre-IPO placement round.
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