On the last day, QIB and NII led the 70.16 times subscriptions to the SBFC Finance IPO.
On the final day of bidding, which was led by QIB and NII, SBFC Finance Ltd.’s Initial Public Offering (IPO), which is a systemically important, non-deposit taking non-banking finance company (“NBFC-ND-SI”) offering Secured MSME Loans and Loans against Gold, was subscribed 70.16 times. The majority of the company’s borrowers are entrepreneurs, small business owners, self-employed people, salaried, and working class people.
According to information available on the stock markets, the issue attracted bids of 9,36,67,32,180 shares against the offered 13,35,12,817 equity shares, at a price range of 54-57.
The most frequently subscribed portion was the Qualified Institutional Buyer Portion, with 192.90 subscriptions, followed by the Non-Institutional Investors Portion, with 49.09 subscriptions.
An Initial Public Offering (IPO) is a process through which a private company offers its shares to the public for the first time. This allows the company to raise capital by selling ownership stakes to investors. The company becomes publicly traded, meaning its shares can be bought and sold on stock exchanges.
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are two prominent stock exchanges in India. They provide platforms where shares of publicly traded companies are listed and traded.NSE was established in 1992 and is known for its electronic trading system. BSE, founded in 1875, is one of the oldest exchanges in Asia and offers both electronic and floor trading.
Investors can buy and sell shares of companies listed on these exchanges, which helps companies raise funds for growth and allows investors to participate in their success through capital appreciation and dividends. The stock exchanges play a vital role in facilitating the buying and selling of financial assets, contributing to the functioning of the capital market.
