Fedbank Financial Services IPO share allotment expected today; Know GMP and how to check allotment status | Mint
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Business News/ Markets / Stock Markets/  Fedbank Financial Services IPO share allotment expected today; Know GMP and how to check allotment status
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Fedbank Financial Services IPO share allotment expected today; Know GMP and how to check allotment status

Fedbank Financial Services shares are expected to be listed on both BSE and NSE, on Tuesday, December 5.

Fedbank Financial Services IPO share allotment expected today (iStock)Premium
Fedbank Financial Services IPO share allotment expected today (iStock)

Fedbank Financial Services Ltd., which is a non-banking finance company, is expected to finalise the allocation of IPO shares today, November 28. 

The issue was overall subscribed to 2.20 times during the bidding process. The portion for qualified institutional bidders or QIBs was subscribed to by a whopping 3.51 times, while the portion reserved for retail investors saw 1.82 times bidding. The allocation reserved for non-institutional investors or NIIs was booked 1.45 times during the three-day bidding process.

The initial public offering (IPO) was set at a share price range of 133-140. At the higher end of the pricing spectrum, the financial services company aimed to generate 1,092 crore in funds through this IPO.

The shares are expected to be listed on both BSE and NSE, on Tuesday, December 5.

Fedbank Financial IPO: How to check allotment status?

  1. Go to the BSE website.
  2.  Select ‘Equity’ and then from the dropdown, select the issue name.
  3. Enter your application number and PAN card number.
  4. Click on the "Search" button.

In a similar way, you can also check on its registrar's website.

  1.  Go to the website of Link Intime.
  2. Click on ‘Company Selection’ and then select the IPO name.
  3. Now, enter your PAN, application number, DP / Client ID, or account number / IFSC.
  4. Click on ‘Search’.

Fedbank Financial IPO GMP Today

Despite the active IPO season, Fedbank Financial Services has seen its grey market premium (GMP) completely erode due to lackluster interest from investors. The latest information indicates that Fedbank Financial is currently not enjoying any premium in the unofficial market, indicating a listing at par for the stock. It's noteworthy that during the announcement of the issue price, the stock was trading at a premium of 5-10 per share.

 

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Published: 28 Nov 2023, 05:51 PM IST
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