SBFC Finance IPO: GMP, Subscription Status Update
SBFC Finance’s Initial Public Offering (IPO) is now open for subscription, starting from Thursday, August 3, and will remain open until Monday, August 7. The IPO has set the price band for each equity share at ₹54 to ₹57. Investors can purchase a minimum lot size of 260 equity shares, with multiples of 260 shares thereafter.
Recently, on Wednesday, SBFC Finance IPO secured ₹304.4 crore from anchor investors. The list of anchor investors includes prominent names like Abu Dhabi Investment Authority, Carmignac Portfolio, Axis Mutual Fund, Birla Mutual Fund, Loomis Sayles, Neuberger Berman, as well as existing investors such as ICICI MF, SBI MF, HDFC MF, Amansa, Malabar, and Steadview Capital.
Among the anchor investors, 5,34,07,893 equity shares were allotted, with 2,23,08,260 equity shares allocated to 10 domestic mutual funds through a total of 18 schemes, amounting to ₹127.15 crore, or 42% of the anchor book size.
The SBFC Finance IPO comprises a fresh issuance of equity shares worth ₹600 crore and an offer for sale (OFS) of ₹425 crore, resulting in a total IPO size of ₹1,025 crore, according to the Red Herring Prospectus (RHP). The company plans to utilize the net proceeds to fulfill its future capital requirements for expanding its operations and assets, as stated in the RHP.
SBFC Finance IPO GMP update:
As of today, the Grey Market Premium (GMP) for SBFC Finance IPO stands at +39, remaining consistent with the previous session. This indicates that the shares of SBFC Finance are trading at a premium of ₹39 in the grey market on Thursday, according to topsharebrokers.com.
Taking into consideration the upper end of the IPO price band and the current premium in the grey market, the projected listing price for SBFC Finance shares is ₹96 per share, representing a significant 68.42% increase over the IPO price.
In the previous session, SBFC Finance shares were trading at a premium of ₹40 in the grey market. The “Grey market premium” is a reflection of investors’ willingness to pay more than the issue price.
Also Read: SBFC Finance IPO GMP Today ( Grey Market Premium )
SBFC Finance IPO Subscription Status:
On day 1 of the subscription period, SBFC Finance IPO has achieved an overall subscription rate of 25%. The retail portion has been subscribed to 38%, while non-institutional investors have subscribed to 31%. However, there has been no subscription from Qualified Institutional Buyers (QIBs) as of now. The Employee portion has garnered a subscription rate of 26%.
Also Read: SBFC Finance IPO Subscription Status (Live Data)
About SBFC Finance:
SBFC Finance Private Limited specializes in providing various financing solutions. The company offers loans against property, personal loans, secured loans, and gold loans. Its services cater to entrepreneurs and owners of micro, small, and medium-sized enterprises in India.
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