Fedbank Financial Services IPO: Listing date of the initial public offering (IPO) of Fedbank Financial Services Limited has been fixed on 30th November 2023 i.e. today. As per the information available on BSE website, “… effective from Thursday, November 30, 2023, the equity shares of Fedbank Financial Services Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities.” The BSE notice further informs that Fedbank Financial Services share price will list on BSE and NSE in special pre-open session during Thursday deals.
According to stock market experts, Fedbank Financial Services share price may have a positive listing despite dull response by investors. They said that Fedfina IPO listing may also give strong message to promoters and merchant bankers of the upcoming IPOs that an initial offer may fail to attract investors even in a crowded primary market if there is little on offer for investors.
Also Read: Fedbank Financial Services IPO allotment finalised today: GMP, here’s how to check Fedfina allotment status
Stock market experts went on to add that Fedebank Financial Services IPO was priced at higher valuations and investors rejected the public offer even in a bullish primary and secondary market. However, they maintained that financials of the company is strong and secondary market is also optimistic. Hence, Fedbank Financial Services share price may have a positive listing.
Fedebank Financial Services IPO listing price
Speaking on Fedbank Financial Services IPO listing, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Despite high valuations and dull response by investors, Fedbank Financial Services share price may open higher from its price band. Reason for being bullish on Fedbank Financial Services share listing is strong fundamentals of the non banking financial company (NBFC) and optimistic stock market.”
Speaking on Fedfina IPO listing, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “The pubblic offer was priced at higher valuations that dent the sentiments of investors towards the public issue. I am not expecting much for allottees on Fedbank Financial Services IPO listing date as it failed to attract attention of investor even in a crowded primary market. In fact, I am expecting strong message for promoters and merchant bankers of upcoming IPOs that an initial offer of a company may fail to attract investors if there is nothing on table for them.”
On expecting Fedbank Financial Services share price opening, Arun Kejriwal said, “I am expecting muted listing and the stock may list at ₹2 discount to ₹2.50 per share premium. This means, Fedbank Financial Services shares may open in ₹138 to ₹142.50 range.”
According to market observers, shares of Fedbank Financial Services Ltd are not available for trade in grey market today. This means, grey market is neutral on Fedbank Financial Services shares.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
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Updated: 30 Nov 2023, 07:16 AM IST