SBFC Finance IPO fully subscribed on day 1; high demand from NIIs

3 Aug 2023 , 04:17 PM

The initial public offering (IPO) of SBFC Finance has commenced its subscription today, and it has garnered full subscription due to strong demand from both retail and non-institutional investors. click here to subscribe the IPO.

The subscription has reached 1.51 times, with bids totaling 20,20,64,460 equity shares against the IPO size of 13,35,12,817 shares by 04.00 PM on August 03.

Retail investors have subscribed 1.82 times the allocated quota, while the portion for high net worth individuals has been oversubscribed by 2.83 times. Qualified institutional buyers have bid for 0.02 times of the shares in their allotted portion, and the employees’ segment has been booked to 0.96 times.

The non-banking finance company, backed by private equity firm Clermont Group and investment bank Arpwood Group, aims to raise Rs 1,025 crore through its maiden public issue. This includes a fresh issuance of shares worth Rs 600 crore and an offer for sale of Rs 425 crore by the Arpwood Group.

Established in 2008, SBFC Finance operates as a non-banking finance company, focusing on extending secured MSME loans and loans against gold. The primary beneficiaries of its services include entrepreneurs, small business owners, self-employed individuals, as well as salaried and working-class individuals. The company boasts an expansive pan-India presence, boasting a network of over 157 branches spread across 105 cities, spanning 16 states and two union territories.

Open date	3 August 2023
Close date	7 August 2023
Lot size	260 shares
IPO size (Rs crore)	Rs 1025 crore
IPO price range (Rs)	Rs 54-57
Minimum investment	Rs 14,820
Basis of allotment date	10 August 2023
Refunds date	11 August 2023
Credit to demat account date	14 August 2023
Listing date	16 August 2023