SBFC Finance will make its major stock market debut on August 16 as August 15 Independence Day is a public holiday.
Professionally managed non-bank finance company SBFC Finance has received a great response to his public concern. Investors who participated in the offering are now awaiting their allocation status.
The basis for the IPO shares will be determined by the end of August 10 according to the IPO schedule. Given the robust subscription numbers, the allotment will be pro rata and eligible investors will receive at least one ticket (260 shares).
Participants can check the status of their share allocation either on the website BSE website or the portal of IPO register.
The equity shares will be transferred to Demat accounts of successful investors by August 14th, while unsuccessful investors will receive a refund to their bank accounts by August 11th.
SBFC Finance will finally debut on August 16th as markets remain closed on August 15th for Independence Day.
The IPO of MSME-focused NBFC was subscribed 70.16 times from Aug. 3-7, with strong participation from all types of investors. You have purchased 936.76 crore shares at an offer price of 13.35 crore shares, which equates to a value of 53,395 crore rupees.
Qualified institutional buyers were very aggressive, bidding 192.9 times their allotted quota, while high net worth individuals bought 49.09 times their reserved stake. The reserved portion of private investors and employees was booked 10.99 times and 5.87 times, respectively.
As a result, there has been a lot of interest in his shares from gray market investors. Its shares were trading at a 70 percent premium to the upper price range on the gray market, an unofficial market for IPO stocks that can be bought and sold pending listing, anonymous analysts said.
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The price range for the offering is 54-57 rupees per share.
SBFC Finance, backed by Clermont Group and Arpwood Group, has raised Rs.1,025 crore through its first public offering. The initial issue portion of the IPO was 600 crore rupees with the remainder being an offer to sell. Companies owned by the Arpwood Group sold shares as part of the Tender Offer.
The Company will use the proceeds of the offering primarily to expand its capital base to meet future capital needs as the business and assets grow.
Also read: Westbridge and Nexus backed India Shelter Finance is filing for an IPO worth Rs 1,800 crore
Mumbai-based NBFC, which offers secured MSME loans (which contribute 80 percent to its AUM of Rs. 4,943) and loans against gold (17 percent to its AUM), is more focused on disbursing the loans with a ticket size in the range of Rs.0.5 million to Rs.3 million. And as of March 2023, over 87 percent of AUM had a ticket size in that range.
Corporate Sponsors: Clermont Group companies SBFC Holdings Pte Ltd and Clermont Financial Pte Ltd, Arpwood Group companies Arpwood Capital and Arpwood Partners Investment Advisors LLP own 80.48 percent of the Company.
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