Fedbank Financial Services IPO: Check allotment and listing date

28 Nov 2023 , 01:52 PM

The IPO shares of non-banking finance company Fedbank Financial Services receive a tepid response from investors during the official subscription period.

The company’s Rs 1,092-crore maiden public issue was subscribed 2.2 times from November 22-24. In the initial two days, the offer was not fully subscribed, with qualified institutional buyers subscribing 3.51 times, retail investors bidding 1.82 times their allotted quota, and non-institutional investors subscribing 1.45 times the reserved portion.

Fedbank Financial Services, based in Mumbai, is expected to finalize the basis of allotment for IPO shares by November 28 (tentative date, subject to change). 

Participants can check their share allotment status on the BSE website and the IPO registrar’s portal (Link Intime India) by providing their application number and PAN details.

According to sources, the equity shares are anticipated to be credited to the demat accounts of eligible investors by November 29, with trading in equity shares potentially commencing on the BSE and NSE from November 30. However, these dates are tentative and subject to change.