Fedfina proposes to utilize the net proceeds from the fresh issue towards augmenting Company’s Tier – I capital.

MUMBAI, Nov 17 (The CONNECT) - Fedbank Financial Services Limited will open its initial public offering (IPO) on Wednesday, November 22. The offering  which closes on Friday the 24th, comprises of a fresh issue of Equity Shares aggregating up to ₹ 600 crore and an offer for sale up to 35,161,723 equity shares by promoter Federal Bank and investor True North Fund VI LLP.

The Anchor Investor Bidding Date shall be Tuesday.

The Price Band of the Offer has been fixed at ₹ 133 to ₹ 140 apiece. Bids can be made for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter. The offer include reservation of up to ₹ 10 crore for employees at a discount of ₹ 10 per equity share.

The Company proposes to utilize the net proceeds from the fresh issue towards augmenting Company’s Tier – I capital base to meet its future capital requirements, arising out of the growth of its business and assets, Anil Kothuri, MD & CEO, said. 

The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on both the BSE and the NSE.

ICICI Securities Limited, BNP Paribas, Equirus Capital Private Limited and JM Financial Limited are the Book Running Lead Managers to the Issue.