Fedbank Financial Services IPO Listing: Fedbank Financial Services Ltd, a subsidiary of Federal Bank, on Thursday made a muted stock market debut, with its shares listing at a discount of Rs 2.25 or 1.60 per cent at Rs 137 on the BSE against the issue price of Rs 140.

However, Fedbank Financial Services’ shares later recovered and were, as of 11:42 am, trading at Rs 147.75, which is around 5.5 per cent higher than its issue price of Rs 140 and 7.26 per cent more than its opening price.

Shivani Nyati, head of wealth at Swastika Investmart, said, “The only disappointing debut on the stock markets today was of Fedbank Finacial services. It got listed at Rs 138 per share, which was almost a flat listing over its IPO price of Rs 140.”

She said the lacklustre listing was in line with the pre-listing sentiment, which was dampened by a weak grey market premium and a relatively tepid investor response.

“Given this subdued listing, we recommend a neutral stance on Fedbank Financial Services Limited,” Nyati added.

Fedbank Financial Services IPO, which was opened for public subscription between November 22 and November 24, received a 2.24 times subscription. The price range for the offer stood at Rs 133-140 a share.

A total of 4 IPOs listed on Thursday — Tata Technologies IPO, Gandhar Oil Refinery IPO, Fedbank Financial Services IPO, and Rockingdeals Circular Economy IPO.

While Fedbank Financial Services listed at a discount eroding investors’ wealth, other three IPO listings were blockbusters with Tata Technologies posting 140 per cent listing gains, Gandhar Oil Refinery 75 per cent profit, and Rockingdeals Circular SME IPO 115 per cent jump.