Fedbank Financial Services Shares See Weak Stock Market Debut, Stock Lists At 1.6% Discount Against IPO Price

Fedbank Financial Services Limited (FedFina) shares made a weak stock market debut on Thursday. Shares of Fedbank Financial Services were listed 1.61% lower on the first day of listing. The stock opened at Rs 137.75 on NSE and Rs 138 on BSE compared to the issue price of Rs 140. Ahead of the market debut, the GMP of Fedbank Financial was 0, indicating a flat-to-negative listing against its issue price of Rs 140 per piece.

Grey Market Premium also called GMP often gives investors an idea if a stock will debut at a premium or a discount on the first day of listing. However, GMP should not be the sole criterion for determining the performance of a company that just went public on the first day of listing. As other factors including the overall performance of the equity market and investors' sentiments also impact a company's stock market debut.

Fedbank Financial Services IPO price band was fixed in the range of Rs 133 to Rs 140 per equity share of face value of Rs 10.

Fedbank Financial Services Limited was trading at a premium of Rs 5-10 apiece when the price band for the issue was declared. The grey market premium of the non-banking lending subsidiary of Federal Bank has been totally erased by the dull response received from investors.

The Rs 1,092-crore Fedbank Financial Services IPO opened for subscription on November 22 and concluded on November 24. The issue was subscribed 2.2 times.

The quota for qualified institutional buyers (QIBs) was booked 3.51 times, while retail investors subscribed 1.82 times their allotted quota. The category for non-institutional investors was subscribed 1.45 times at close.
The IPO of Fedbank Financial Services comprised a fresh equity issue worth Rs 600 crore, and an offer for sale (OFS) comprising 3.5 crore equity shares. Under the OFS category, 1.64 crore equity shares were sold by Federal Bank while 5.38 crore shares were offloaded by True North Fund VI LLP, the private equity fund.

Fedbank Financial Services is a Federal Bank-backed Mumbai-based NBFC that caters to the MSMEs and the emerging self-employed individuals sector, with a presence in 17 states and union territories.

Fedbank Financial Services IPO allotment status: Fedbank Financial Services IPO share allotment was finalized on Wednesday. The Fedfina IPO allotment status can be checked in the registrar's portal - Link Intime India Private Ltd and on the BSE website.

How to check Fedbank Financial Services IPO allotment status on Link Intime India Private Ltd?

Step 1: Visit the Fedfina IPO link- https://linkintime.co.in/MIPO/Ipoallotment.html

Step 2: Select the IPO in the dropbox that will only have its name set in if the allocation is completed.

Step 3:Choose one of all three options to check the status: Application No, Demat Account, or PAN.

Step 4: Select between ASBA and non-ASBA under application type.

Step 5: Include the information for the mode you selected in Step 2.

Step 6: Click submit after filling out the captcha.

How to check Fedbank Financial IPO allotment status online on BSE

Step 1:Go to the allotment page on BSE's official website- https://www.bseindia.com/investors/appli_check.aspx

Step 2:Under 'Issue Type', choose 'Equity'.

Step 3:Select the IPO from the drop-down option under 'Issue Name'.

Step 4:Enter PAN or application number.

Step 5:Click 'I am not a Robot' to confirm your identity, then hit the 'Submit' button.