Fedbank Financial Services raises ₹325 crore from anchor investors ahead of IPO

Recently the news has come on the internet that Federal Bank Limited is an Indian private sector bank. Reportedly, Fedbank Financial Services has increased ₹324.67 crore from commentator investors, a day before the opening of its initial public offering (IPO) on Tuesday, 21 November 2023. The firm recorded the names of the 22 investors who participated in the anchor book in a regulatory filing. Currently, this news has been gaining huge attention from the people as they want to know complete information about the news. Here we have more information about the news and we will share it with you in this article.

Fedbank Financial Services Raises Rs 330 Crore

Fedbank Financial Services raises ₹325 crore

Also, the firm said four mutual funds made applications via five projects. The company also stated in an exchange filing “The company board of directors in the meeting which held on 21 November 2023 and the selling shareholders in talk with the Book Running Lead Managers (BRLMs) to the offer, has completed allotment of 23,191,374 equity shares to anchor investors at the anchor investor allocation cost of ₹140 each equity share”. You are on the right page for more information about the news, so please read the complete article till the end.

Among the main anchor investors are Societe Generale, HDFC Life Insurance, Goldman Sachs (Singapore) PTE, HDFC Mutual Fund, SBI Life Insurance, HDFC Life Insurance, Kotak Mahindra Life Insurance, Nippon Life India, Bajaj Allianz Life Insurance, Teach India and Tata AIA Life Insurance. Experiencing domestic mutual funds include Edelweiss Trusteeship Company Limited, HDFC Mutual Fund, Bandhan Emerging Business Fund and Nippon Life India. As per the report, ICICI Securities Ltd, Equirus Capital Private Ltd, JM Financial Ltd and BNP Paribas have been the BRLM to the issue, and Link Intime India Private Ltd is the clerk to the offer. So please read the complete article till the end.

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Fedback Financial Services IPO details

Fedbank Financial Services IPO date of Subscription is set for 22 November 2023 and will close on Friday, 24 November 2023. The company IPO cost band is settled in the range of ₹133 to ₹140 per equity share of face value of ₹10. Fedbank IPO GMP today or grey market premium is +5. This meant Fedfina’s share cost today has been trading at a premium of ₹5 in the grey market. Regarding the upper end of the IPO cost band and the current premium in the grey market, the assessed listing cost of Fedbank Financial Services share expense was shown at ₹145 apiece, which is 3.57% more increased than the IPO cost of ₹140. Here we have shared all the information that we had. Stay tuned to us for more updates.

Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.