Fedbank Financial Services Limited has informed the Exchange regarding Allotment of 20,000 Senior, Secured, Listed, Rated, Redeemable Non-Convertible Debentures having a face value of Rs. 1,00,000 each, of the aggregate nominal value of up to Rs. 200,00,00,000 on private placement basis to one or more prospective eligible investors.
FEDFINA · price
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On the reaction day the stock moved 1.2 pts more than Nifty Microcap 250 and 1.2 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Fedbank Financial Services has allotted 20,000 senior, secured, listed, rated, redeemable non-convertible debentures (NCDs) with a face value of Rs. 1,00,000 each, raising up to Rs. 200 crore on a private placement basis. The NCDs carry a coupon rate of 7.29% per annum, paid quarterly, with a 36-month tenure maturing on January 5, 2029. Principal will be redeemed in 8 quarterly instalments starting after 15 months from allotment, and the NCDs will be listed on BSE, secured by a first-ranking pari-passu charge over loan receivables. Separately, 12,700 equity shares of Rs. 10 each were allotted to employees under the ESOP 2018 scheme following stock option exercises. The paid-up share capital rose marginally to Rs. 3,74,08,95,000 consisting of 37,40,89,500 equity shares. This allotment is part of a broader board-approved plan to raise up to Rs. 2,500 crore through NCDs in multiple tranches.
The Rs. 200 crore NCD raise expands Fedbank Financial's borrowing capacity to fund loan growth, with a moderate 7.29% coupon suggesting favourable borrowing costs for an NBFC. The ESOP allotment is minor and dilution is negligible, so existing shareholders are largely unaffected.