JSA advised ICICI Securities Limited, BNP Paribas, Equirus Capital Private Limited and JM Financial Limited, the book running lead managers in relation to the proposed initial public offering of equity shares of Fedbank Financial Services Limited (“Company”) comprising a Fresh Issue of up to ₹ 7,500.00 million and an Offer for Sale of up to 16,497,973 Equity Shares by The Federal Bank Limited and up to 53,825,435 Equity Shares by True North Fund VI LLP
Fedbank Financial Services Limited is a retail focused non-banking finance company (“NBFC”) promoted by The Federal Bank Limited. The Company has the second lowest cost of borrowing among the micro, small and medium enterprises (“MSMEs”), gold loan and MSME & gold loan peer set in India in Fiscal 2023. (Source: CRISIL Report) As on March 31, 2023, the Company had the third fastest AUM growth among NBFCs in the peer set in India with a three-year CAGR of 33% between Fiscals 2020 and 2023. (Source: CRISIL Report) Further, the Company is one among five private banks promoted NBFCs in India and the fastest growing gold loan NBFC in India among the peer set as of March 31, 2023. (Source: CRISIL Report).
Our Transaction Team Comprised Lead Partner – Arka Mookerjee, Partner – Siddhartha Desai, Senior Associate – Anshu Bansal, Associate – Shambhavi Kumar and Varshini Puni and Junior Associate – Anvita Sinha.