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What is an Follow-on public offering (FPO)?

A Follow-on Public Offering (FPO) is a type of public offering where a publicly traded company raises additional capital by issuing new shares to the public. An FPO is carried out by a company that has already gone public, as opposed to an Initial Public Offering (IPO), which involves a firm going public for the first time. Under an FPO, the company offers fresh shares to the general public, with all net proceeds going to the company. The shares can be purchased at a set price or through book building, where a bidding process is used to determine the price. The application process is similar to that of IPOs. To learn more, see How to apply for an IPO, and how to stay informed of new ones?

Did you know? Unlike IPOs, where trading starts at 10 AM on the day of listing, FPOs start trading in the pre-market session at 9AM. To learn more about pre-market sessions, see What are pre-market and post-market sessions and orders in NSE and BSE?