Check Important Dates, Subscription Status, GMP, Lot Size, and Other Details Here for SBFC Finance IPO Day 1; Should You Apply?
The subscription period for SBFC Finance’s initial public offering (IPO) began today, August 3, and it will end on Monday, August 7. The SBFC Finance IPO pricing range has been set by the business at Rs. 54 to Rs. 57 per equity share.
On Wednesday, SBFC Finance collected Rs 304.4 crore from anchor investors in anticipation of the IPO. Existing and new investors were included on the list of anchor investors, which also included companies like Abu Dhabi Investment Authority, Carmignac Portfolio, Axis Mutual Fund, Birla Mutual Fund, Loomis Sayles, and Neuberger Berman.
5,34,07,893 equity shares in total were set aside for the anchor investors. The stock is valued at 3x P/BV trailing FY23 book when it trades at the top price range of Rs 57 a share.
Size of SBFC Finance’s IPO lot
Investors may place a minimum bid of 260 equity shares and then bid in multiples of 260 equity shares.
Significant dates:
The offer’s subscription period will begin on August 3 and end on August 7, respectively.
The SBFC Finance IPO consists of an offer for sale (OFS) of up to Rs 425 crore and a new equity issuance of around Rs 600 crore.
The business wants to generate $1,025 million via a public offering that includes a new share issuance and a promotional offer to sell shares for $425 million.
While the revenues from the OFS will be given to the selling shareholders, SBFC Finance has said that it would utilize the proceeds from the fresh issuance, less IPO costs, primarily to increase its capital base in order to meet future capital needs brought on by the expansion of the company and its assets.
Qualified institutional buyers (QIBs) will get 50% of the offer size, non-institutional investors (NIIs) would receive 15%, and retail investors will receive the remaining 35%.
IPO GMP Finance SBFC
Market watchers claim that SBFC Finance’s IPO GMP, or grey market premium, is +39, meaning that the company’s shares were today selling on the black market at a premium of Rs 39.
The SBFC Finance shares are projected to be listed for Rs 96 per share, up 68.42% from the IPO price, given the top end of the IPO pricing range and the present premium on the grey market.
About the business:
Financing options are provided by SBFC Finance Private Limited. The company offers personal, secured, gold, and loan against property loans.
