Fedbank Financial Services IPO
Fedbank Financial Services IPO — date, price band, lot size & details 2023
Fedbank Financial Services listed on 30 Nov 2023 at ₹138, 1.4% below the ₹140 issue price.
Fedbank Financial Services is a retail NBFC promoted by Federal Bank, offering housing loans, loans against property, business loans and gold loans. It ran 584 branches on 30 June 2023.
Stock price
Fedbank Financial Services is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 22 Nov 2023
- Close 24 Nov 2023
- Allotment 28 Nov 2023
- Refund/credit 28 Nov 2023
- Listing 30 Nov 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 24 Nov, 2023 |
|---|---|
| Price Band | ₹133 – ₹140 |
| Face Value | ₹10 |
| Lot Size | 107 Shares |
| Issue Size | ₹1092.26 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 10.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,980 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 107 shares at the ₹140 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 107 | ₹14,980 |
| Retail (max) | 13 | 1,391 | ₹1,94,740 |
| S-HNI (min) | 14 | 1,498 | ₹2,09,720 |
| S-HNI (max) | 66 | 7,062 | ₹9,88,680 |
| B-HNI (min) | 67 | 7,169 | ₹10,03,660 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 61.68 crore in FY2021 to Rs 180.13 crore in FY2023.
- 02Total income rose from Rs 697.57 crore in FY2021 to Rs 1,214.68 crore in FY2023.
- 03Rs 600.15 crore of the issue was fresh capital for Tier-I capital.
- 04It is promoted by Federal Bank and ran 584 branches.
- 05Net worth grew from Rs 834.73 crore on 31 March 2021 to Rs 1,414.90 crore on 30 June 2023.
Risks · 5
- 01The pre-issue P/E was 25.36 at the upper band of Rs 140, based on EPS of Rs 5.52.
- 02Total borrowing was Rs 7,619.52 crore on 30 June 2023, far above net worth.
- 03Gold loans depend on gold prices, and small business borrowers are sensitive to slowdowns. Return on net worth was 13.29% as per the source.
- 04Rs 492.11 crore of the issue was offer for sale, mostly by investor True North.
- 05Federal Bank held 72.28% before the issue and about 62.4% after it, as per the RHP share counts.
Three years of numbers
All figures in ₹ crore, as reported in the Fedbank Financial Services offer document.
| Metric | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 9,412.51 | 9,070.99 | 6,555.71 | 5,466.31 |
| Total Income | 367.87 | 1,214.68 | 883.64 | 697.57 |
| Profit After Tax | 53.88 | 180.13 | 103.46 | 61.68 |
| NET Worth | 1,414.90 | 1,355.68 | 1,153.52 | 834.73 |
| Total Borrowing | 7,619.52 | 7,135.82 | 5,016.84 | 4,328.09 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Fedbank Financial Services RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Fedbank Financial Services IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹5.52 | ₹5.84 |
| P/E Ratio (x) | 25.36 | 23.97 |
| Market Cap at Offer Price (₹ Cr) | ₹1,366.52 | ₹1,291.64 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹140 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹621.41 Cr of the issue is earmarked to named objects.
About the company
Its products include mortgage loans such as housing loans and small and medium ticket loans against property, unsecured business loans and gold loans. On 30 June 2023 its mortgage, gold and unsecured business loans had AUM of Rs 47,024.46 million, Rs 31,241.72 million and Rs 14,872.49 million.
It uses a phygital doorstep model that mixes digital and physical channels. On 30 June 2023 it operated through 584 branches.
The IPO was Rs 1,092.26 crore, with Rs 600.15 crore of fresh issue and Rs 492.11 crore of offer for sale by Federal Bank and True North Fund VI. The fresh money was meant to augment Tier-I capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Fedbank Financial Services IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Equirus Capital Pvt.Ltd.
34 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Metro Brands (-12.6%).
BNP Paribas
7 issues handledBest listing: DOMS Industries (+77.2%). Weakest: Carraro India (-7.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Fedbank Financial Services?
The current Grey Market Premium is ₹5, or 4% over the issue price.
What is the Fedbank Financial Services IPO price band?
₹133 to ₹140, on a face value of ₹10.
When is the allotment?
The basis of allotment is 28 November 2023, with listing on 30 November 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
