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What is an FPO i.e follow on public offering?

A follow-on public offer (FPO) is an issuing of shares to investors by a public company that is already listed on an exchange.

An FPO is essentially a stock issue of supplementary shares made by a company that is already publicly listed and has gone through the IPO process. FPOs are popular methods for companies to raise additional equity capital in the capital markets through a stock issue.

The application process is similar to that of IPOs and has to be done through ASBA.