Published : 16 August 2023
By : Sachin Gupta
• On Wednesday, SBFC Finance makes a strong market debut by starting trading at a significant 43.8 percent premium to its IPO price.
• SBFC Finance is a non-banking finance organization that primarily provides secured MSME loans and gold loans to entrepreneurs, small business owners, self-employed individuals, salaried and working-class citizens.
• With more than 157 Branches spread throughout 105 cities in 16 states and two union territories, the company has a wide-ranging pan-Indian network.
• The initial selling price of Rs 57 per share was surpassed when the stock began trading at Rs 82 on the National Stock Exchange.
• Similar to this, it debuted at Rs 81.99 per share on the Bombay Stock Exchange.
• The initial public offering (IPO) of SBFC attracted a lot of investor interest, leading to a more than 74-fold oversubscription. The issue was subscribed to 74.06 times altogether.
• The section reserved for qualified institutional bidders was reserved 203.61 times, while the category for non-institutional investors received 51.82 times as many reservations. R