The eagerly awaited SBFC Finance IPO allotment is slated to be unveiled today, with the company finalizing the distribution of its shares on this Thursday.The cutting-edge financial services firm’s primary offering, which amassed a substantial sum of Rs 1,025 crore, received an overwhelming response from investors during the bidding window, witnessing an impressive oversubscription rate of over 74 times.
For those who participated in the IPO and are yet to ascertain the status of their applications, the Bombay Stock Exchange (BSE) website furnishes a user-friendly platform to verify allotment status. Investors can opt for Equity as the issue type, select the company’s name, and subsequently enter their application numbers and PAN card IDs for access.
An alternative method to verify the allotment status is through the digital portal of Kfin Technologies Limited, the appointed registrar for the IPO. Confirmed allottees can conveniently utilize their application numbers, Demat Account numbers, or PAN IDs, alongside the provided captcha, to gain insights into their allotment status.Refunds for unsuccessful bidders are set to be initiated on Friday, August 11, whereas those fortunate enough to secure share allotments can anticipate their shares being credited to their Demat accounts by Monday, August 14. The much-anticipated date for the IPO listing is scheduled for Wednesday, August 16.
The SBFC Finance IPO was initially offered within the price range of Rs 54 to Rs 57 per share, with each lot comprising 260 shares. Investors had the opportunity to place their bids from August 3 to August 7.Among the investor categories, qualified institutional bidders showcased remarkable enthusiasm, oversubscribing their allotment by an impressive 203.61 times. Non-institutional investors also displayed substantial interest, subscribing at a rate of 51.82 times. Retail investors demonstrated their confidence with an oversubscription rate of 11.60 times, while the employee segment garnered 6.21 times bids.
The Grey Market Premium (GMP) for SBFC Finance has maintained its stability, recently hovering at a premium of Rs 36 on the grey market, remaining consistent on Wednesday as well.Current indicators from the grey market suggest a potential listing at a remarkable 64 percent premium for the fortunate allottees.Having been established in 2008, SBFC Finance operates as a non-banking financial company with a focus on secured MSME loans and loans against gold. Its services are predominantly tailored to cater to entrepreneurs, small business owners, self-employed individuals, and salaried professionals.
