Listless Debut: Fedbank Financial Services shares list at discount of 1.61% on BSE

Shares of Fedbank Financial Services Ltd debuted on BSE on Thursday (November 30) at a discount price of 1.61 per cent, or Rs 2.25, at Rs 137.75. It also made its debut on NSE at a discount price of 1.40 per cent, or Rs 2, at Rs 138.   

Anil Singhvi's take on Fedbank Financial Services 

The stock of the financial services company made its debut on the lines of Zee Business Managing Editor Anil SInghvi's expectations, who had predicted a subdued debut of the share.

Singhvi, who earlier suggested applying for the Fedbank Financial IPO from a long-term perspective, expects the stock to list on a lacklustre note around the issue price of Rs 140. 

What does Fedbank Financial Services do?

It is non-banking finance company (NBFC) which caters to products like gold loan, home loan, loan agaist proeprty and business loan. The lender which got the NBFC licence in 2010 claims to have 573+ branches across the country.

How did Fedbank Financial Services IPO perform?

The IPO of the NBFC company which closed on November 24 was subscribed 2.24 times. While 54,926,214 shares were on offer, subscribers bid for 12,30,13,085 shares for a total amount of Rs 1,722.18 crore.