The listing date for the IPO of Fedbank Financial Services Limited is scheduled for today, November 30, 2023. The BSE website confirms that starting today, the equity shares of Fedbank Financial Services Limited will be listed and traded on the Exchange under the ‘B’ Group of Securities. The listing is expected to take place on both BSE and NSE in a special pre-open session during Thursday’s trading.
Despite a lackluster response from investors, experts in the stock market anticipate a positive listing for Fedbank Financial Services shares. They believe that the listing could send a strong message to promoters and merchant bankers of future IPOs, emphasizing the importance of attractive offerings to draw investor interest.
Market analysts note that the Fedbank Financial Services IPO faced challenges due to higher valuations, resulting in a tepid response from investors even in a buoyant primary and secondary market. However, experts maintain that the company’s financials are robust, and the secondary market outlook is optimistic, potentially leading to a positive listing for Fedbank Financial Services shares.
Avinash Gorakshkar, Head of Research at Profitmart Securities, expressed optimism about the listing, citing the strong fundamentals of the non-banking financial company (NBFC) and the positive sentiment in the stock market.
Arun Kejriwal, Founder at Kejriwal Research and Investment Services, offered a more cautious view on the IPO listing, noting the higher valuations that affected investor sentiment. He anticipates a muted listing, suggesting that the stock may open at a discount of ₹2 to ₹2.50 per share premium, placing the initial trading range for Fedbank Financial Services shares between ₹138 and ₹142.50.
Grey market activity for Fedbank Financial Services Ltd shares is reportedly neutral today, with no trading taking place. This indicates a balanced stance in the grey market regarding the company’s shares.