SBFC Finance IPO Subscribed 100% on Day 1
The initial public offering (IPO) of SBFC Finance was subscribed 100% on Day 1, with retail investors lapping up their entire quota. The IPO was open for subscription from August 2 to 4, 2023.
The IPO was for a total of 15 million shares, with a face value of INR 10 each. The price band for the IPO was INR 230-235 per share.
The retail investors’ portion was subscribed 188.62 times, while the qualified institutional buyers’ (QIBs) portion was subscribed 3.75 times. The non-institutional investors’ (NII) portion was subscribed 80.4 times.
The proceeds from the IPO will be used to fund the company’s growth initiatives, including expansion of its branch network and digital lending platform.
| Data | Value |
|---|---|
| Title | SBFC Finance IPO Subscribed 100% on Day 1 |
| Tags | #sbfcfin #ipo #finance #stockmarket |
| Summary | The initial public offering (IPO) of SBFC Finance was subscribed 100% on Day 1, with retail investors lapping up their entire quota. The IPO was open for subscription from August 2 to 4, 2023. |
| Date | August 4, 2023 |
| Time | 23:02:26 PST |
Conclusion:
The SBFC Finance IPO was a success, with strong demand from retail investors. The company is well-positioned for growth, and the proceeds from the IPO will help it to expand its business.
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