SBFC Finance IPO Subscribed 70.16 Times On Day 3

SBFC Finance Pvt. launched its initial public offer on Thursday, which will close on Aug. 7.

The company’s IPO has a total offer size of Rs 1,025 crore, of which Rs 425 crore worth of shares will be allocated through the offer for sale.

The initial public offering was fully subscribed on the first day. It was IPO subscribed 7.09 times on day 2.

The bids were led by non-institutional investors, who subscribed 12.95 times, and retail investors, who subscribed 4.93 times. The portion reserved for employees was subscribed to 2.44 times, and institutional investors subscribed 6.71 times.

• Issue opens: Aug. 3, 2023.

• Issue closes: Aug. 7, 2023.

• Total issue size: Rs 1,025 crore.

• Face value: Rs 10 per share.

• Fresh issue size: Rs 600 crore.

• Offer for sale size: Rs 425 crore.

• Shares for fresh issue: 10,52,63,157 shares.

• Shares for offer for sale: 7,45,61,404 shares.

• Price band: Rs 54 to Rs 57 per share.

• Lot size: 260 shares.

• Listing: BSE and NSE.

Augmenting the capital base to meet future capital requirements arising out of the growth of business and assets.

Promoter selling shareholders will receive the proceeds from the offer for sale after deducting proportionate related to the offer.

The IPO has been subscribed 70.16 times as of 6:57 p.m. on Monday.

• Institutional investors: 192.90 times.

• Non-institutional investors: 49.09 times.

• Retail investors: 10.99 times.

• Employee reserved: 5.87 times.