November 22, 2023 - November 24, 2023

Fedbank Financial Services IPO Review & Recommendations

Anand Rathi, Arihant Capital Markets Ltd, Asit C. Mehta Investment Intermediates Ltd, BP Equities (BP Wealth) and Indsec Securities have given "Apply" recommendation to Fedbank Financial Services IPO. Dilip Davda has given "May Apply" recommendation to Fedbank Financial Services IPO. Capital Market has "Neutral" view about the IPO. Swastika Investmart Ltd recommend to "Avoid" the IPO.Axis Capital, Nirmal Bang, SMC Global and Ventura Securities Limited have "Not Rated" the IPO.

Fedbank Financial Services IPO Review Summary from brokers and analysts

Review By	Apply	May Apply	Neutral	Avoid	Not Rated
Count	5	1	1	1	4
%	41.67	8.33	8.33	8.33	33.33

Fedbank Financial Services IPO Analysis By Brokers/Analysts

Reviewer	Recommendation	Past Reviews
Anand Rathi	Apply
Arihant Capital Markets Ltd	Apply
Asit C. Mehta Investment Intermediates Ltd	Apply
Axis Capital	Not Rated
BP Equities (BP Wealth)	Apply
Capital Market	Neutral
Dilip Davda	May Apply
Indsec Securities	Apply
Nirmal Bang	Not Rated
SMC Global	Not Rated
Swastika Investmart Ltd	Avoid
Ventura Securities Limited	Not Rated

Fedbank Financial Services IPO Capital Market Rating

The Captial Market (CapitalMarket.com) rating for Fedbank Financial Services IPO is 44. Their analysis recommends Avoid, however active risk seekers can try for the IPO.

Reviewer	Rating Score	Rating
Capital Market	44	Avoid, however active risk seekers can try

Fedbank Financial Services IPO Review by Dilip Davda (May apply)

[Dilip Davda] FFSL has marked steady growth in its top and bottom lines for the reported periods. Federal Bank will continue to hold major stake post IPO. Financial service sector is set to play a vital role in speeding up the economy. Additional fund will pave the way for fast growth in coming years. Based on annualized FY24 earnings, the issue appears fully priced. Well-informed investors may park funds for the medium to long-term rewards. Read detail review...

Fedbank Financial Services IPO Peer Comparison

Fedbank Financial Services Limited peer comparison with similar listed entities. (As on June 30, 2023)

Company Name	EPS (Basic)	EPS (Diluted)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	Financial statements
Fedbank Financial Services Limited	5.60	5.60	42.11		13.29	Consolidated
Aptus Value Housing	10.11		67.05	28.58	15.06	Consolidated
IIFL Finance	39.49		236.37	15.53	17.88	Consolidated
Five Star Business Finance	20.71		148.94	37.54	13.91	Consolidated
Manappuram Finance Limited	17.07		113.95	8.06	15.55	Consolidated
Muthoot Finance Limited	86.50		539.69	15.39	16.94	Consolidated
SBFC Finance Limited	1.70		19.42	48.33	8.67	Consolidated

Notes:

All the financial information for the listed industry peer mentioned above is on a consolidated basis unless otherwise available only on a standalone and is sourced from the filings made with stock exchanges available on the BSE for the Financial Year ended March 31, 2023.
Source for Fedbank Financial Services Limited: Based on the Restated Financial Statements for the year ended March 31, 2023.The
The P/E Ratio has been computed based on the closing market price of equity shares on July 21, 2023, divided by the Basic EPS.
Return on Net Worth (%) = Net profit after tax, as restated / Net worth as restated as at year-end.
Net worth has been computed as the sum of paid-up share capital and other equity.
NAV is computed as the closing net worth divided by the closing outstanding number of equity shares.

Fedbank Financial Services IPO Review by Members

Fedbank Financial Services IPO Reviews, analysis and views by popular members. Read Fedbank Financial Services Limited IPO reviews by retail investors to find recommended ipo to buy.

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Fedbank Financial Services IPO Review Summary by Members

Review By	Apply	May Apply	Neutral	Avoid
Count	1	0	2	0
%	33.33	0.00	66.67	0.00

Member	Review
Vicksa	Neutral Expensive November 21, 2023 2:57:06 PM
B.M.SURANA IPO Guru (2700+ Posts, 5300+ Likes)	Neutral 25-26 ki PE Par Costly hai. 2 November 19, 2023 11:20:08 PM
GURDEEP SINGH	Apply for Listing Gain at Cut-off Price Federal Bank Shareholders Bidding in the Federal Bank Shareholders Reservation Portion can Bid up to a Bid Amount of ₹0.20 million (net of Shareholder Discount). Further, a Federal Bank Shareholders Bidding in the Federal Bank Shareholders Reservation Portion can also Bid in the Employee Reservation Portion (subject to complying with the eligibility criteria and applicable limits) and /or in the Retail Portion, and such Bids will not be treated as multiple Bids subject to applicable limits. November 17, 2023 3:54:50 PM

Member

Review

Vicksa

Neutral

Expensive

November 21, 2023 2:57:06 PM

B.M.SURANA

IPO Guru (2700+ Posts, 5300+ Likes)

Neutral

25-26 ki PE Par Costly hai.

November 19, 2023 11:20:08 PM

GURDEEP SINGH

Apply for Listing Gain at Cut-off Price

Federal Bank Shareholders Bidding in the Federal Bank Shareholders Reservation Portion can Bid up to a Bid Amount of ₹0.20
million (net of Shareholder Discount). Further, a Federal Bank Shareholders Bidding in the Federal Bank Shareholders
Reservation Portion can also Bid in the Employee Reservation Portion (subject to complying with the eligibility criteria and
applicable limits) and /or in the Retail Portion, and such Bids will not be treated as multiple Bids subject to applicable limits.

November 17, 2023 3:54:50 PM

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