Fedbank Financial Services share sees a weak debut. Lists 1.61% lower at Rs137.75
₹133.55, 4.61% lower than the issue price and 3.15% lower than the listing price. Fedbank Financial Services IPO had opened for subscription from Wednesday, November 22, and closed on Friday, November 24. Fedbank Financial Services IPO price band had been fixed in the range of ₹133 to ₹140 per equity share of face value of ₹10.
The Grey market premium or the GMP for stood at +5 on the day of opening of IPO. This had indicated that FedBank Financial Services share prices were trading at a premium of Rs5 in the grey market. The GMP however, thereafter had drifted lower to ₹0 per share according to investorgain.com.
This indicated that market participants were anticipating listing of the Fedbank Financial Services IPO at the upper end of the IPO price band at Rs140 apiece without any premium. Also Read- Fedbank Financial Services IPO listing date today. Check what GMP, experts signal on share debut Fedbank Financial Services IPO was subscribed 2.24 times.
The public issue subscribed 1.88 times in the retail category, 3.48 times in QIB, and 1.49 times in the NII category by November 24, 2023 (Day 3). Federal Bank arm Fedbank financial Services IPO comprised of fresh issue of equity shares up to the value of ₹600 crore and an offer-for-sale (OFS) of up to 35,161,723 equity shares by the promoters selling shareholders and promoter group make up the offer, which has a face value of ₹10 per equity share, as per RHP. The Federal Bank Limited is the promoter of Fedbank Financial Services, a non-banking finance company (NBFC) with retail in focus.
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