Federal Bank update on proposed IPO of FedFina (subsidiary)

Federal Bank's subsidiary, Fedbank Financial Services (FedFina) has filed its Draft Red Herring Prospectus (DRHP) with SEBI for the proposed Initial Public Offering (IPO) of its equity shares on 19 February 2022.

FedFina is proposing to undertake an initial public offering of equity shares of face value of Rs.10 each of FedFina (Offer), comprising a fresh issue of Equity Shares by FedFina aggregating up to Rs.900 crore (Fresh Issue) and an offer for sale of up to 1,64,97,973 Equity Shares by Federal Bank and up to 2,92,16,313 Equity Shares by True North Fund VI LLP.

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