FedFina IPO: Federal Bank subsidiary files IPO papers with SEBI
Zee News
Fedbank Financial Services Ltd has filed preliminary papers with Sebi for its initial public offering.
New Delhi: Federal Bank subsidiary Fedbank Financial Services Ltd (FedFina) has filed preliminary papers with Sebi for its initial public offering (IPO). The draft red herring prospectus (DRHP) was filed with the capital markets regulator on February 19, 2022, Federal Bank said in a regulatory filing on Sunday.
"Our subsidiary Fedbank Financial Services has filed its draft red herring prospectus with Sebi for the proposed IPO of its equity shares on February 19, 2022," it said.
The IPO comprises a fresh issue of equity shares and offer for sale by Federal Bank and True North Fund VI LLP.
"FedFina is proposing to undertake the IPO...Comprising a fresh issue of equity shares by FedFina aggregating up to Rs 9,000 million (Rs 900 crore) (the fresh issue) and an offer for sale of up to 1,64,97,973 equity shares by our bank and up to 2,92,16,313 equity shares by True North Fund VI LLP," Federal Bank said.
The private sector bank said the offer includes a reservation for subscription by eligible employees of Federal Bank and FedFina and the bank's shareholders.
