Dehradun: Fedbank Financial Services Limited (“FFSL” or “The Company”), the fastest growing gold loan NBFC in India as of March 31, 2021 (Source: CRISIL Report), has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
Promoted by Federal Bank Ltd, FFSL, the company operate a “twin engine” business model, with two complementary products, namely gold loans and instalment loans to MSMEs and emerging self-employed individuals (“ESEIs”).
The Company plans to raise funds through offer of equity shares of face value of Rs. 10 each. The offer consist of fresh issue aggregating up to Rs. 9,000 million (The “Fresh Issue”) and an Offer for Sale aggregating up to 45,714,286 equity shares by “Promoter Selling Shareholder” and “Investor Selling Shareholder” (The “Offer for Sale”).
The offer for sale up to 45,714,286 equity shares comprises of up to 16,497,973 equity shares by The Federal Bank Limited (“Promoter Selling Shareholder”) and up to 29,216,313 equity shares by True North Fund VI LLP (“Investor Selling Shareholder”).