Check Fedbank Financial Services GMP and IPO Allocation Status.
Unlisted shares of Fedbank Financial Services continue to trade at a zero premium, indicating no listing gains
IPO of Fedbank Financial Services: The share allocation of the Fedbank Financial Services IPO, which was open for public subscription between November 22 and 24, was completed today, Wednesday. Investors can now check their allotment status on Link Intime India website and BSE. Fedbank Financial Services or Fedfina is a subsidiary of Federal Bank.
The listing of the Rs 1,092 crore IPO is likely to take place on Thursday, November 30 on the BSE and NSE. The IPO received a subscription of 2.24 times. The price range was set at Rs 133-140 per share.
Fedbank Financial Services IPO GMP
According to market observers, unlisted shares of Fedbank Financial Services are still trading at a zero premium, indicating no profit on the listing. The GMP is based on market sentiment and continues to change.
The 'gray market premium' indicates that investors are willing to pay more than the issue price.
Fedbank Financial Services IPO: How to Check Allotment Status
Here's how you can check the IPO allotment status of Fedbank Financial Services via the BSE website:
1) Visit the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under 'Issue type', select 'Shares'.
3) Under 'Issue Name', select 'Fedbank Financial Services Limited' from the drop-down list.
4) Enter your application number or Permanent Account Number (PAN).
5) Then click on 'I'm not a robot' to verify yourself and click on the 'Search' option.
The status of your sharing request appears on your screen.
You can also visit the direct Link Intime portal – linkintime.co.in/mipo/ipoallotment.html and check the Fedbank Financial Services Limited IPO allotment status.
Fedbank Financial Services IPO Details
The IPO of Fedbank Financial Services (Fedfina), a subsidiary of Federal Bank, was subscribed a total of 2.20 times. The IPO received bids for 12,30,12,764 shares against 5,59,23,660 shares offered between November 22 and November 24.
The portion for qualified institutional buyers (QIBs) subscribed 3.51 times, while the quota for retail retail investors (RIIs) received 1.82 times subscription. The non-institutional investor category subscribed 1.45 times. The IPO had a fresh issue of up to Rs 600 crore and an offer for sale of up to 35,161,723 shares.
The price range for the offer was Rs 133-140 per share. Fedbank Financial Services has collected Rs 325 crore from anchor investors.
The issue was a combination of a fresh issue of 4.29 crore shares worth Rs 600.77 crore and an Offer For Sale (OFS) of 3.52 crore shares worth Rs 492.26 crore. Under the OFS, Federal Bank sold 1.65 crore shares and True North Fund VI LLP divested 5.38 crore shares.
Fedfina proposes to use the net proceeds from the new issuance to increase its Tier-I capital base to meet its future capital needs and offering expenses. ICICI Securities, BNP Paribas, Equirus Capital and JM Financial were the lead managers of the offer.
On Monday, Fedbank Financial Services raised Rs 330 crore in a pre-IPO placement round.