SBFC Finance IPO: Issue subscribed over 70 times on day 3; QIBs steal the show
2 min read 07 Aug 2023, 02:56 PM ISTSBFC Finance IPO subscribed over 70 times on day 3, receiving overwhelming response from QIBs, NIIs, and retail investors.
PremiumSBFC Finance IPO subscription status: SBFC Finance IPO was subscribed 70.16 times on day 3. SBFC Finance IPO opened on Thursday, August 3 will close today (Monday, August 7).
SBFC Finance IPO received overwhelming response from qualified institutional buyers (QIBs) followed by non institutional investors (NIIS), and retail investors on day 3.
SBFC Finance IPO's QIBs portion was subscribed 192.90 times, NII portion was subscribed 49.09 times, retail investors portion was subscribed 10.99 times, and employee portion was subscribed 5.87 times so far.
The SBFC Finance IPO has received bids for 9,36,76,63,500 shares against 13,35,12,817 shares on offer, according to data from the BSE.
The non-institutional investors' portion received bids for 1,38,37,71,480 shares against 2,81,87,500 on offer for this segment.
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The retail investors' portion received bids for 72,26,80,400 shares against 6,57,70,833 shares on offer for this segment.
The employee portion received bids for 1,15,75,460 shares against 19,71,153 on offer for this segment.
The QIBs portion received bids for 7,24,96,36,160 shares against 3,75,83,331 on offer for this segment.
SBFC Finance IPO was subscribed 7.09 times on day 2, and on day 1 SBFC Finance IPO subscribed 1.91 times led by NII and Retail.
SBFC Finance IPO price band has been set at ₹54 to ₹57 per equity share for the proposed initial public offer. SBFC Finance IPO lot size consists of a minimum of 260 equity shares and in multiples of 260 equity shares thereafter.
On Wednesday, SBFC Finance IPO raised ₹304.4 crore from from anchor investors.The anchor investor list includes Abu Dhabi Investment Authority, Carmignac Portfolio, Axis Mutual Fund, Birla Mutual Fund, Loomis Sayles, Neuberger Berman among others. The anchor list also saw existing investors ICICI MF, SBI MF, HDFC MF, Amansa, Malabar and Steadview Capital participating in the offer.
SBFC Finance IPO comprises of fresh issuance of equity shares worth ₹600 crore and an offer for sale (OFS) of ₹425 crore, according to the Red Herring Prospectus (RHP). The total offer size of SBFC Finance IPO now is ₹1,025 crore.
According to red herring prospectus (RHP), SBFC Finance intends to use the net proceeds to meet future capital requirements that are anticipated to result from the expansion of their company's operations and assets.
SBFC Finance IPO GMP today or grey market premium is +40.50 slightly higher to the previous session. This indicates SBFC Finance share price were trading at a premium of ₹40.50 in the grey market on Monday, according to topsharebrokers.com.
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