Fedbank Financial Services IPO
Fedbank Financial Services Limited (FEDFINA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 30 November 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -2.4% (likely range -11% to +3%), day's high +1.4%, chance of a gain 33%. Actual: -1.4% at the open, +5.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,53,49,339 | 5,38,25,280 | 3.51x | |
| NII (HNI) total | 1,19,28,394 | 1,73,04,575 | 1.45x | |
| Big NII (above ₹10 lakh) | 79,52,262 | 97,79,800 | 1.23x | |
| Small NII (₹2-10 lakh) | 39,76,132 | 75,24,775 | 1.89x | |
| Retail | 2,78,32,919 | 5,07,90,653 | 1.82x | |
| Employees | 8,13,008 | 10,92,577 | 1.34x | |
| Total | 5,59,23,660 | 12,30,13,085 | 2.20x |
Bids on NSE and BSE together, as published by NSE, as of 24 Nov 2023, 07:00 PM. Shares offered exclude the anchor portion. 36% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Fedbank Financial Services's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Sula VineyardsDec 2022 | 4.13x | 1.51x | 1.65x | 2.33x | ₹960 Cr | +1.1% | +1.8% |
| L&T Technology ServicesSep 2016 | 5.01x | 1.03x | 1.75x | 2.53x | ₹894 Cr | +7.0% | +8.3% |
| Prince Pipes and FittingsDec 2019 | 3.54x | 1.21x | 1.89x | 2.21x | ₹503 Cr | -10.1% | -0.1% |
| CMS Info SystemsDec 2021 | 1.98x | 1.45x | 2.15x | 1.95x | ₹1,159 Cr | +1.9% | +20.2% |
| Paradeep PhosphatesMay 2022 | 3.01x | 0.82x | 1.37x | 1.75x | ₹1,637 Cr | +4.8% | +12.5% |
| UTI Asset Management CompanyOct 2020 | 3.34x | 0.93x | 2.32x | 2.31x | ₹2,160 Cr | -9.8% | -4.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| BNP Paribas | 10 | +10.5% | 50% |
| Equirus Capital | 34 | +21.3% | 74% |
| JM Financial | 109 | +22.8% | 75% |
Offer documents (NSE)
Frequently asked
What is the Fedbank Financial Services IPO price band and lot size? ₹133–140 per share, with a lot of 107 shares, so the smallest retail bid is ₹14,980.
How many times has it been subscribed? 2.20x overall: QIB 3.51x, NII 1.45x, retail 1.82x, employees 1.34x.
How did it list? It opened at ₹138, -1.4% against the issue price of ₹140, and closed its first day +0.2%.
