SBFC Finance IPO details, SBFC Finance IPO subscription status: SBFC Finance’s initial public offer (IPO), got subscribed 70.16 times on the last day of subscription on Monday, helped by an overwhelming participation from institutional buyers. The Rs 1,025 crore-initial share sale received bids for 9,36,76,63,500 shares against 13,35,12,817 shares on offer, as per NSE data. The category for Qualified Institutional Buyers (QIBs) of non-banking finance company was subscribed a whopping 192.89 times while non-institutional investors quota received 49.09 times subscription. The portion meant for Retail Individual Investors (RIIs) got subscribed 10.99 times.

Should you subscribe to the SBFC Finance IPO?

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Zee Business Managing Editor Anil Singhvi suggests applying for the IPO for "big listing gains". He has identified a few key points about the company:

Positive

  • Experienced promoters
  • MSME-focused business model
  • Impressive financial track record
  • Strong anchor book
  • Valuations reasonable

Negative

  • NIMs on a declining trend
  • NPA levels higher than industry

Here are some of the key details about the SBFC Finance IPO:

SBFC Finance IPO issue price

Under the IPO, potential investors can bid for SBFC Finance shares in the price range of Rs 54-57 apiece in multiples of 260.

SBFC Finance IPO allotment date, SBFC Finance IPO listing date

The basis of the allotment of shares is likely to be finalised on August 10. Successful bidders will likely get shares credited into their demat accounts on August 14 and other participants will have refunds initiated on August 10. The SBFC Finance stock is likely to be listed on bourses BSE and NSE on August 16.

SBFC Finance IPO book-running lead managers

ICICI Securities, Axis Capital and Kotak Mahindra Capital Company are the book-running lead managers for the issue.

SBFC Finance IPO: Anchor investors

Abu Dhabi Investment Authority, Carmignac Portfolio, Loomis Sayles, Neuberger Berman, Amansa Holdings, Malabar India Fund Ltd and Steadview Capital Master Fund Ltd are among the anchor investors.

SBFC Finance IPO: Fund utilisation

The company plans to utilise the net proceeds from the issue towards augmenting its capital base to meet its future capital requirements arising out of the growth of its business and assets.

SBFC opened for subscription on Thursday, August 3. SBFC Finance is a Mumbai-based non-banking financial company (NBFC) offering financing opportunities to business owners underserved by traditional banks.

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