Fedbank Financial Services Limited has informed the Exchange regarding Allotment of 12700 Shares.
FEDFINA · price
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Fedbank Financial Services (FEDFINA) has allotted 20,000 secured, listed, rated, redeemable non-convertible debentures (NCDs) of face value Rs. 1 lakh each, aggregating Rs. 200 crore, on a private placement basis. The NCDs carry a coupon of 7.29% per annum paid quarterly, have a 36-month tenure maturing on January 5, 2029, and will be listed on BSE. Principal will be repaid in 8 quarterly instalments starting 15 months after allotment, and the NCDs are secured by a first-ranking pari passu charge on the company's loan receivables. Separately, the company allotted 12,700 equity shares of Rs. 10 each to employees under the ESOP 2018 scheme, marginally increasing paid-up equity capital from 37,40,76,800 to 37,40,89,500 shares. This is the first tranche under the board's approved plan to raise up to Rs. 2,500 crore through NCDs.
The Rs. 200 crore NCD issuance adds to the company's debt obligations and increases leverage, though the 7.29% coupon is competitive and the instrument is asset-backed. The ESOP allotment causes negligible equity dilution (12,700 shares out of ~37.4 crore) and is unlikely to affect the share price meaningfully.