FedFina board revives IPO plan
时间:2024-06-17 11:38:01 阅读（143）
The board of Fedbank Financial Services (FedFina) has revived the plan for the initial public offering after its IPO card got lapsed in February this year, according to a late-hour exchange filing by Federal Bank on July 17.
FedFina, the NBFC subsidiary of Federal Bank, had in February 2022 filed the draft red herring prospectus with the Securities and Exchange Board of India for the IPO, but could not pursue its plan due to volatile market conditions, Federal Bank MD & CEO Shyam Srinivasan said during the press conference after the first quarter (Q1FY24) results.
Federal Bank on July 13 reported its Q1FY24 net profit at Rs 853.7 crore, up 42% on a year-on-year basis, largely led by a robust rise in net interest income and a stable asset quality. Though the April-June bottom line was higher than the Bloomberg estimate of Rs 775 crore, it was lower 5% on a sequential basis.
Shares of Federal Bank on Tuesday ended up 1.6% at Rs 134.70 on the BSE.
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