The demand for the initial public offering of SBFC Finance, which closed on Monday, was spearheaded by qualified institutional investors, followed by non-institutional investors.
The Rs 1,025-crore IPO was subscribed 70.16 times as of 6:57 p.m. on Monday. The bids were led by qualified institutional buyers, subscribing 192.90 times, followed by non-institutional investors who subscribed 49.09 times.
Retail investors subscribed 10.99 times. The portion reserved for employees was subscribed to 5.87 times.
The Mumbai-headquartered financial services provider was the 13th company to enter the primary markets in 2023 and is among the top five in terms of IPO subscription.
The others include IdeaForge Technology, Utkarsh Small Finance Bank, Netweb Technologies and Senco Gold.
The IPO, which opened on Aug. 3, was fully subscribed on the first day and subscribed 7.09 times on day two.
Out of the company's total IPO offer size of Rs 1,025 crore, Rs 425 crore worth of shares were allocated through the offer for sale. The company issued 13.35 crore shares at a price range of Rs 54–57 per share.
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