FEDBANK FINANCIAL SERVICES LIMITED FILES DRHP WITH SEBI

Federal Bank Ltd promoted, Fedbank Financial Services Limited (“FFSL” or “The Company”), has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

FFSL is one among five private bank promoted NBFCs in India. It focuses on catering to the MSMEs and the emerging self-employed individuals (“ESEIs”) sector.

The Company plans to raise funds through offer of equity shares (face value of Rs. 10 each) comprises of fresh issue aggregating up to Rs. 7,500 million (The “Fresh Issue”) and an Offer for Sale aggregating up to 70,323,408 equity shares by “Promoter Shareholder” and “Other Shareholder” (The “Offer for Sale”).

The offer for sale up to 70,323,408 equity shares comprises of up to 16,497,973 equity shares by The Federal Bank Limited (“Promoter Shareholder”) and up to 53,825,435 equity shares by True North Fund VI LLP (“Other Shareholder”).

FFSL proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting Tier – I capital base to meet its future capital requirements, arising out of the growth of business and assets. A part of the proceeds from the Fresh Issue will be used towards meeting Offer Expenses. (The “Objects of the Offer”)

ICICI Securities Ltd, BNP Paribas, Equirus Capital Private Limited, and JM Financial Limited are the Book Running Lead Managers to the Issue.