Fedbank Financial Services IPO: Fully booked on last day of bidding
₹1,092.26 crore IPO of Fedbank Financial Services, a retail-focused non-banking finance company promoted by Federal Bank, has achieved full subscription on the last day of bidding (November 24). At 12:30 PM, the issue had garnered bids for 7,33,03,453 shares against the available 5,59,23,660 shares, resulting in a subscription rate of 1.31 times. The retail segment displayed notable interest, with a subscription rate reaching 1.51 times.
Similarly, the employee segment also achieved a subscription rate of 1.03 times, as per BSE data. The non-institutional investors (NIIs) and qualified institutional buyers (QIB) segments saw a subscription rates of 0.72% and 1.43%, respectively, according to BSE data. Also Read: Gandhar Oil IPO subscribed to 18.25 times on Day 3: Here's all you need to know 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. Fedbank Financial Services focuses on MSMEs and the emerging self-employed individuals (ESEIs) sector. According to the CRISIL report, the ESEI and MSME segments are largely unaddressed by lending institutions in India.
The company believes that this segment provides them with a sizeable opportunity to rapidly grow and expand further. Also Read: Tata Technologies IPO to close today. Should you apply on last day? Fedbank
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