Fedbank Financial Services raises Rs 325 cr from anchor investors ahead of IPO

Fedbank Financial Services, a subsidiary of Federal Bank, has raised Rs 325 crore from anchor investors ahead of its IPO. The company has allocated 2.32 crore equity shares to 22 funds at Rs 140 per share. The IPO, with a price range of Rs 133-140 per share, will be open for three days starting November 22. The proceeds from the IPO will be used to enhance the company's capital base and cover expenses. ICICI Securities, BNP Paribas, Equirus Capital, and JM Financial are the lead managers of the IPO.

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