Last day to subscribe SBFC Finance IPO; check live subscription details here

7 Aug 2023 , 11:07 AM

The initial public offering (IPO) of SBFC Finance, valued at Rs 1,025 crore, witnessed favorable investor interest in the initial hours as it commenced its subscription process on Thursday. The primary demand was notably driven by non-institutional and retail investors. Click Here to subscribe the IPO.

As per the available data, investors submitted bids for a total of 1,29,58,49,360 equity shares, equivalent to 9.71 times of the 13,35,12,817 equity shares made available for subscription by 11:00 am on Monday, August 7, 2023.

The allotment for non-institutional investors reached 20.93 times of their allocated quota, while retail bidders secured 6.73 of their allotted portion. Additionally, the employee segment was subscribed to 3.38 times of its designated allocation. The qualified institutional bidders (QIBs) category subscribed 6.93 times the allocated quota.

SBFC Finance is offering its shares within the price range of Rs 54 to Rs 57 per share, spanning a three-day bidding period. Investors are allowed to place bids for a minimum of 260 equity shares and subsequently in multiples of that amount. The IPO comprises both a sale of fresh equity shares amounting to Rs 600 crore and an offer-for-sale totaling around Rs 425 crore.