Days after its initial public offering (IPO) opened and closed for subscription, the shares of SBFC Finance Private Limited made an ‘impressive’ debut in the stock exchanges on Wednesday, a day after markets reopened after the Independence Day holiday.
SBFC Finance shares on BSE
According to HT’s sister publication Livemint, shares of the non-banking lender were listed on the Bombay Stock Exchange (BSE) at ₹81.99 apiece, a premium of 43.84% to the issue price of ₹57 per share.
SBFC Finance shares on NSE
On the National Stock Exchange (NSE), the figures for the Mumbai-based company were quite similar to those on the BSE. Here, its stock opened at ₹82 apiece, a premium of 43.85%.
SBFC Finance IPO
(1.) It was available for subscription from August 3-7 and was worth ₹1025 crore. Ahead of the IPO’s opening, SBFC raised ₹304.4 crore from anchor investors.
(2.) The offer comprised a fresh issuance of equity shares worth ₹600 crore, as well as a ₹425 crore offer for sale (OFS).
(3.) The IPO was subscribed total 74.01 times. In the Qualified Institutional Buyers’ (QIB) category it was subscribed 203.61 times; 51.82 times in the Non-Institutional Investors’ (NII) category, and 11.60 times in the retail category.
(4.) The lender intends to use the net proceeds to meet future capital requirements that are anticipated to result from the expansion of the company’s operations and assets.
About SBFC Finance
Established in 2008, SBFC Finance specialises in secured loans for MSMEs (micro, small and medium enterprises), and gold-backed loans. It mainly serves entrepreneurs, small business proprietors, self-employed individuals, and salaried professionals.
It operates through 157 branches across 105 cities in 16 states and two Union territories.
