Days after SBFC Finance IPO, shares make ‘strong’ market debut. Check details

SBFC Finance shares: the shares were listed at ₹81.99 apiece, a premium of 43.84%. On the NSE, these were at ₹82, a premium of 43.85%.

Published on: Aug 16, 2023, 11:20:15 IST

By HT News Desk

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SBFC Finance shares: 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.

The SBFC Finance IPO was available for subscription from August 3-7 (Representational Image)

Also Read: SBFC Finance IPO to open for subscription on August 3. Check latest GMP

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.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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