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News Details

17/11/2023 13:52

Fedbank Financial announces launch of initial public offering

Fedbank Financial Services Ltd. has announced public offering of 78018866 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 130.00 per share. The gross proceeds of the issue are expected to be Rs 1,09,226.41 lakhs.

The company's initial public offer (IPO) will open on 22 November 2023 and is expected to close on 24 November 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 133.00-140.00 per share.

The IPO includes a fresh Issue of 78018866 Equity Shares of the Company at an price of Rs 140.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 107 shares with bids in multiples of 107.

Fedbank Financial Services Ltd. anticipates using the proceeds of the issue for .

ICICI SECURITIES LTD,Equirus Capital Private Limited,JM Financial Limited,BNP Paribas as lead manager(s) & Link Intime India Pvt. Ltd. is the registrar, to the issue.