Fedbank Financial Services IPO to open on 22 November
17 Nov 2023
Fedbank Financial Services Ltd, a non-banking financial company promoted by Federal Bank Ltd, has come out with an initial public offer (IPO), which will open for subscription on 22 November
Investors have three days, ie, 22 to 24 November 2023 for subscribing to the issue.
Fedbank Financial Services is a non-banking finance company (NBFC) that focuses on retail services catering to micro, small, and medium enterprises (MSMEs), besides providing gold loan.
The company reported the second lowest cost of borrowing among its peers in the 2022-23 financial year.
The company offers a range of products, including mortgage loans such as housing loans, business loans, loans against property, unsecured business loans and gold loans to clients like self-employed individuals and the MSME sector.
The company also employs a doorstep model that combines digital and physical initiatives to provide tailored services to its customers across all product lines.
Fedbank Financial Service currently operates 575 branches across 191 districts in 16 states and union territories. The bank has a strong presence in the southern and western regions, including Andhra Pradesh as well as Rajasthan.
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