Federal Bank’s subsidiary FedFina files IPO papers with Sebi
The OFS comprises up to 16,497,973 equity shares by Federal Bank and up to 29,216,313 equity shares by True North Fund VI LLP.
Federal Bank will continue to own more than 51 per cent of the outstanding share capital post the completion of this offering.
The company proposes to utilise the net proceeds from the fresh issue towards augmenting its Tier – I capital base to meet its future capital requirements arising out of the growth of business and assets.
FedFina is a retail-focused NBFC and operates a “twin engine” business model, with two complementary products — gold loans and instalment loans to MSMEs and emerging self-employed individuals.
The company believes that its long operating history, track record, management expertise and the Federal Bank brand have enabled it to establish a competitive position in the market.
ICICI Securities, Equirus Capital, IIFL Securities and JM Financial are the book running lead managers to the issue.
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