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Fedfina shares lower in debut trading
image for illustrative purpose
New Delhi: Shares of Fedbank Financial Services Ltd (Fedfina), a subsidiary of Federal Bank, made a muted market debut on Thursday, listing with a discount of nearly 2 per cent, against the issue price of Rs140.
The stock listed at Rs137.75, registering a decline of 1.60 per cent from the issue price, on the BSE. Shares of the company later bounced back and jumped 5.35 per cent to Rs147.50.
On the NSE, the stock made its debut at Rs138, lower by 1.42 per cent. Later, it recovered all the early lost ground and climbed to the day’s high of Rs147.50. The company commanded a market valuation of Rs5,377.55 crore.
