Fedbank Financial Services Ltd files DRHP with for IPO

The Federal Bank Limited's subsidiary Fedbank Financial Services Limited ("FedFina") has filed its Draft Red Herring Prospectus dated July 26, 2023 ("DRHP") with SEBI for the proposed Initial Public Offering ("IPO") of its equity shares on July 27, 2023.

FedFina is proposing to undertake an initial public offering of equity shares of face value of Rs.10 each of FedFina ("Equity Shares" and such offering, the "Offer"), comprising a fresh issue of Equity Shares by FedFina aggregating up to Rs. 7,500.00 million (the "Fresh Issue") and an offer for sale of up to 16,497,973 Equity Shares by our Bank and up to 53,825,435 Equity Shares by True North Fund VI LLP, in accordance with the Companies Act, 2013, and rules made thereunder, each as amended, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements), Regulations, 2018 as amended (the "SEBI ICDR Regulations") and other applicable laws at such price as may be determined in consultation with the book running lead managers to the Offer and through the book building process under SEBI ICDR Regulations.

For the Financial Year ended March 31, 2023, FedFina had:

- Revenue from operations of Rs. 1,178.79 Cr;
- Total revenue of Rs. 1,214.67 Cr;
- Profit after tax of Rs. 180.13 Cr; and
- Net Worth as on March 31, 2023 was Rs. 1,355.68 Cr

Shares of The Federal Bank Limited was last trading in BSE at Rs. 133.90 as compared to the previous close of Rs. 133.95. The total number of shares traded during the day was 812841 in over 6329 trades.

The stock hit an intraday high of Rs. 135.50 and intraday low of 133.30. The net turnover during the day was Rs. 109242892.00.

Source : Equity Bulls

Keywords

TheFederalBank INE171A01029 FedbankFinancialServices FundRaising DRHP SEBI IPO FedFina