SBFC Finance IPO oversubscribed 2.74 times on day 2 so far; retail portion filled 2.93 times

4 Aug 2023 , 11:19 AM

The Rs 1025 crore initial public offer of SBFC Finance Limited has been subscribed 1.91 times by the end of day 1. On day 2, the issue has received bids for 36,51,93,920 equity shares against 13,35,12,817 shares available for subscription by 11.15 AM as per BSE data. Click here to subscribe the IPO.

The NII segment of the SBFC Finance IPO witnessed an oversubscription of 5.94 times, while the portion reserved for retail investors was subscribed 2.93 times. The employee allocation saw a subscription of 1.54 times, and the QIB portion has been subscribed at 5% thus far.

The company has set aside shares worth Rs 10.25 crore for its employees, who will be able to acquire these shares at a discounted rate of Rs 2 per share compared to the final offer price. Additionally, half of the issue size has been allocated for qualified institutional buyers (QIB), 15% is earmarked for high net worth individuals, and the remaining 35% is allocated for retail investors.

On Wednesday, the company successfully secured Rs 304.43 crore from anchor investors. Notable participants among these anchor investors comprise Abu Dhabi Investment Authority, Carmignac Portfolio, Axis Mutual Fund, Birla Mutual Fund, Loomis Sayles, and Neuberger Berman.

The IPO will close on August 7, and price has set at Rs 54-57 per share.

SBFC Finance important details:

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