IPO Details

Bidding Dates

22 Nov '23 - 24 Nov '23

Minimum Investment

₹14,980 / 1 Lot (107 Shares)

Price Range

₹133.00 - ₹140.00

Maximum Investment

₹194,740 / 13 Lots ( 1391 shares)

Retail Discount

Not Applicable

Issue Size

₹1,092.26 Cr

Investor category and sub category

Qualified Institutional Buyers   |   Non-Institutional Investors   |   Retail Individual Investors  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Nov 22, 2023

IPO Close Date

Nov 24, 2023

IPO Allotment Date

Nov 30, 2023

Initiation of Refunds

Dec 1, 2023

Credit of Shares to Demat Account

Dec 4, 2023

IPO Listing Date

Dec 5, 2023

Cut-off time for UPI mandate confirmation

Nov 24, 2023

Fedbank Financial Services IPO Subscription Details


Day 1Nov 22, 2023

0.00x 0.22x 0.70x 0.37x 0.39x

Day 2Nov 23, 2023

0.56x 0.54x 1.30x 0.78x 0.92x

Day 3Nov 24, 2023

3.48x 1.49x 1.88x 1.34x 2.24x

Fedbank Financial Services IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutions Buyers 3.48
Non-Institutional Buyers 1.49
Retail Investors 1.88
Employees 1.34
Total 2.24

About Company

Fedbank Financial Services is a retail-focused non-banking finance company or NBFC promoted by The Federal Bank Ltd. Headquartered in Mumbai, Maharashtra, they are present in 16 states and union territories across India, with a strong presence in southern and western regions of India. 

They have a wide range of products targeted to match their customer’s needs, including mortgage loans such as housing loans, small and medium ticket loans against property or LAP, unsecured business loans, and gold loans. Loans against property and loans against gold constituted 41.35% and 36.85%, respectively, of their gross loan book in FY 2023.

They are focused on catering to the MSMEs and the emerging self-employed individuals or ESEIs sector. The company has a ‘Phygital’ doorstep model, which is a combination of digital and physical initiatives for providing customised services to their customers across all products.

The Indian retail credit market grew at a strong pace over the last few years from ₹ 30 trillion in Fiscal 2018 to ₹ 60 trillion in Fiscal 2023, and it constituted 32% of total systemic credit in India. If this rate of expansion continues, a fast-growing company like Fedbank Financial Services may benefit, in terms of increased revenue, from an increase in the overall market size.

Fedbank Financial Services Ltd IPO Details

Fedbank Financial Services Ltd IPO Date

The dates for bidding for the Fedbank Financial Services IPO are November 22, 2023, to November 24, 2023.

Fedbank Financial Services Ltd IPO Price Band

Fedbank Financial Services is a book-built IPO. The exact price range is yet to be announced.

Fedbank Financial Services Ltd IPO Lot Size

The Fedbank Financial Services Ltd IPO lot size is yet to be announced.

Fedbank Financial Services Ltd IPO Objectives 

The company proposes to use the net proceeds from the fresh issue towards augmenting the company’s Tier–I capital base to meet future capital requirements arising out of the growth of the business and assets.

Peer Details

The company’s listed peers include:

  1. Five Star Business Finance
  2. Aptus Value Housing Finance
  3. Muthoot Finance
  4. Manappuram Finance
  5. IIFL Finance

How to Check the Allotment Status of the Fedbank Financial Services Ltd IPO?

A: Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Fedbank Financial Services Ltd 

Registered office: Kanakia Wall Street, A Wing, 5th Floor, Unit No. 511, Andheri Kurla Road, Andheri (East), Mumbai 400 093 Maharashtra, India

Phone: +91 22 6852 0601

E-mail: cs@fedfina.com

Company Financials

Particulars ( ₹ in millions ) Year Ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income 12,146.80 8,836.37 6,975.66
Profit After Tax 1,801.33 1,034.59 616.84
AUM Growth (%) 46.59% 27.25% 26.68%
Return on Total Average Capital Employed 2.31% 1.72% 1.29%

Know before investing


  1. They have the second lowest cost of borrowing among the micro, small and medium enterprises (“MSMEs”), gold loan and MSME & gold loan peer set in India in Fiscal 2023.

  2. As of March 31, 2023, they had the third fastest AUM growth among the NBFCs in their peer set in India with a 3-year CAGR of 33% between Fiscals 2020 and 2023.

  3. They are promoted by the Federal Bank, which adds a degree of trust among their stakeholders.

  4. As of March 31, 2023, 85.98% of their total loan assets are secured against tangible assets, namely gold or customer’s property.


  1. They are affected by volatility in interest rates for both the lending and treasury operations, which could cause their net interest income and net interest margin to vary and consequently affect profitability. This is because 86.51% of their total liabilities are floating interest rate-based.

  2. 64.66% of their total loans are given to MSMEs. This may become a source of risk as MSMEs may pose a higher amount of risk compared to larger banks.

  3. Because they handle high volumes of cash and gold jewellery in a dispersed network of branches, they are exposed to operational risks, including employee negligence, fraud, petty theft, burglary and embezzlement. For example, in FY 2023, there were 10 instances of fraud against the company by third parties amounting to ₹15.24 million and 5 instances of fraud against the company by its own employees amounting to ₹161.47 million.

  4. There are pending litigations against the company and its promoter. Any adverse decision in such proceedings may render them liable to liabilities/penalties and may adversely affect the company’s business, cash flows and reputation.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Fedbank Financial Services IPO FAQs

What is Fedbank Financial Services IPO?

Fedbank Financial Services  IPO is a book-built IPO. The dates for the IPO are November 22, 2023, to November 24, 2023.  

When will Fedbank Financial Services Ltd's IPO be allotted?

The allotment date for the IPO is Thursday, November 30, 2023.

When will Fedbank Financial Services Ltd's IPO open for subscription?

The IPO subscription window is November 22, 2023, to November 24, 2023.

What minimum lot size can retail investors subscribe to?

The lot size for the IPO has not been announced yet.

When will Fedbank Financial Services Ltd list on exchanges?

Fedbank Financial Services Ltd will be listed on the NSE and the BSE on Tuesday, December 5, 2023.

What would be the listing gains on the Fedbank Financial Services Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing is Tuesday, December 5, 2023.

I have finished the application process for the Fedbank Financial Services Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for Fedbank Financial Services Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Fedbank Financial Services Ltd using one PAN?

You can submit only one application using your PAN card.