- As much as 38% of the public offering was subscribed on the first day of the issue on Wednesday
- Price Band fixed at ₹133 to ₹140 per Equity Share of face value of ₹10 each
- Bid/ Offer will close on Friday, November 24th, 2023.
- Bids can be made for a minimum of 107 Equity Shares and in multiples of 107 Equity Shares thereafter.
NE BUSINESS BUREAU
AHMEDABAD, NOV 22
As much as 38% of the public offering of Fedbank Financial Services was subscribed on the first day of the issue on Wednesday.
The ₹1,092 crore issue received no interest from qualified institutional buyers on the first day but 21% of the non-institutional investor portion was subscribed. And 67% of the retail investor portion received subscriptions.
The NBFC had raised ₹324.67 crore from 22 anchor investors by allotting 23,191,374 Equity Shares at the upper price band of ₹140 per equity share before the issue opened to the public. Investors like HDFC Mutual Fund, HDFC Life Insurance, SBI Life Insurance, Nippon Life India, Societe Generale, Goldman Sachs (Singapore) PTE and more bought into the issue.
| Sr.
No. |
Name of the Anchor Investor | No. of Equity Shares allocated | % of Anchor Investor
Portion |
Bid price (Rs. per Equity Share) | Total Amount
Allocated (Rs.) |
| 1 | NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA BANKING & FINANCIAL SERVICES FUND | 17,85,723 | 7.70% | 140 | 250,001,220 |
| 2 | SBI LIFE INSURANCE COMPANY LIMITED | 17,85,723 | 7.70% | 140 | 250,001,220 |
| 3 | HDFC MUTUAL FUND – HDFC BANKING AND
FINANCIAL SERVICES FUND |
17,85,723 | 7.70% | 140 | 250,001,220 |
| 4 | HDFC LIFE INSURANCE COMPANY LTD | 17,85,723 | 7.70% | 140 | 250,001,220 |
| 5 | BANDHAN EMERGING BUSINESSES FUND | 17,85,723 | 7.70% | 140 | 250,001,220 |
| 6 | SOCIETE GENERALE – ODI | 14,14,640 | 6.10% | 140 | 198,049,600 |
| 7 | KOTAK MAHINDRA LIFE INSURANCE COMPANY
LIMITED |
12,85,712 | 5.54% | 140 | 179,999,680 |
| 8 | TATA AIA LIFE INSURANCE COMPANY LTD A/C UNIT LINKED MULTICAP FUND | 12,85,712 | 5.54% | 140 | 179,999,680 |
| 9 | BAJAJ ALLIANZ LIFE INSURANCE COMPANY
LIMITED |
12,85,712 | 5.54% | 140 | 179,999,680 |
|
10 |
NATIXIS INTERNATIONAL FUNDS (LUX) I –
LOOMIS SAYLES GLOBAL EMERGING MARKETS EQUITY FUND |
12,85,712 |
5.54% |
140 |
179,999,680 |
| 11 | CANARA HSBC LIFE INSURANCE COMPANY
LIMITED |
10,71,498 | 4.62% | 140 | 150,009,720 |
| 12 | MARSHALL WACE INVESTMENT STRATEGIES –
EUREKA FUND |
10,71,498 | 4.62% | 140 | 150,009,720 |
| 13 | EDELWEISS TRUSTEESHIP CO LTD AC – EDELWEISS
MF AC – EDELWEISS RECENTLY LISTED IPO FUND |
8,57,177 | 3.70% | 140 | 120,004,780 |
| 14 | BCAD Fund | 7,23,641 | 3.12% | 140 | 101,309,740 |
| 15 | INTEGRATED CORE STRATEGIES (ASIA) PTE. LTD | 7,23,641 | 3.12% | 140 | 101,309,740 |
| 16 | SEGANTII INDIA MAURITIUS | 4,71,547 | 2.03% | 140 | 66,016,580 |
| 17 | GOLDMAN SACHS (SINGAPORE) PTE.- ODI | 4,71,547 | 2.03% | 140 | 66,016,580 |
| 18 | INDIA MAX INVESTMENT FUND LTD | 4,71,546 | 2.03% | 140 | 66,016,440 |
| 19 | COPTHALL MAURITIUS INVESTMENT LIMITED –
ODI ACCOUNT |
4,71,547 | 2.03% | 140 | 66,016,580 |
| 20 | UNIVERSAL SOMPO GENERAL INSURANCE
COMPANY LIMITED |
4,71,547 | 2.03% | 140 | 66,016,580 |
| 21 | CITIGROUP GLOBAL MARKETS MAURITIUS
PRIVATE LIMITED |
4,71,547 | 2.03% | 140 | 66,016,580 |
| 22 | EDELWEISS TRUSTEESHIP CO LTD AC – EDELWEISS
MF AC – EDELWEISS AGGRESSIVE HYBRID FUND |
4,28,535 | 1.85% | 140 | 59,994,900 |
| Total | 2,31,91,374 | 100.00% | 3,246,792,360 |
Out of the total allocation of 2, 31,91,374 Equity shares to the Anchor Investors, 6,642,881 Equity shares (i.e. 28.64% of the total allocation to the Anchor Investors) were allocated to 4 (Four) domestic mutual funds have applied through a total 5 (Five) schemes.
| Sr.
No. |
Name of Scheme | No. of Equity Shares allocated | % of Anchor Investor
Portion |
Bid price (Rs. per Equity Share) | Total Amount
Allocated (Rs.) |
| 1 | NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA BANKING & FINANCIAL SERVICES FUND | 1,785,723 | 7.70% | 140 | 250,001,220 |
| 2 | HDFC MUTUAL FUND – HDFC BANKING AND FINANCIAL SERVICES FUND | 1,785,723 | 7.70% | 140 | 250,001,220 |
| 3 | BANDHAN EMERGING BUSINESS FUND | 1,785,723 | 7.70% | 140 | 250,001,220 |
| 4 | EDELWEISS TRUSTEESHIP CO LTD AC – EDELWEISS MF AC – EDELWEISS RECENTLY LISTED IPO FUND | 857,177 | 3.70% | 140 | 120,004,780 |
| 5 | EDELWEISS TRUSTEESHIP CO LTD AC – EDELWEISS MF AC – EDELWEISS AGGRESSIVE HYBRID FUND | 428,535 | 1.85% | 140 | 59,994,900 |
| TOTAL | 6,642,881 | 28.64% | 930,003,340 |
Book Running Lead Managers to the Issue are CICI Securities Limited, BNP Paribas, Equirus Capital Private Limited and JM Financial Limited
