Fedbank Financial Services IPO: 90% of issue booked on Day 02; details here
₹1,092.26 crore IPO of Fedbank Financial Services, a retail-focused non-banking finance company promoted by Federal Bank, continued to witness subdued interest from investors on its second day of bidding. Also Read: Fedbank Financial Services IPO: Issue receives tepid response from investors on Day 01 Investors bid for 5,05,84,571 shares on the second day (November 23) against the available 5,59,23,660 shares, translating into a subscription rate of 90%, as per BSE data. Notably, the retail segment exhibited decent demand as the subscription rate reached 1.26 times.
However, the employee, non-institutional investors (NIIs), and qualified institutional buyers (QIB) segments witnessed a more restrained response, with subscription rates of 78%, 52%, and 56%, respectively, according to BSE data. Also Read: Arrowhead Seperation IPO allotment finalised: Latest GMP, check out steps to check Arrowhead IPO allotment status The IPO, which opened for subscription on Wednesday, will close on Friday. The price band for the offer has been fixed at ₹133–140 per equity share with a face value of ₹10 each.
The quota for retail investors in the Fedbank Financial Services IPO has been fixed at 35% of the net offer. The QIB quota is fixed at 50%, while the quota for NII is reserved at 15%. Retail investors have the opportunity to submit bids for up to 13 lots, with each lot containing 107 shares.
At the upper end of the IPO price band, ₹140, retail investors are required to make a minimum investment of ₹14,980 per lot. Also Read: IREDA IPO day 3: Issue subscribed 38.80 times, retail portion booked 7.73x Fedbank Financial Services focuses on MSMEs and the emerging self-employed individuals (ESEIs) sector. According to the CRISIL report, the
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