The initial public offering (IPO) of SBFC Finance IPO which opened for subscription on Thursday (August 3) will close today (August 7). The company has fixed the price band of SBFC Finance IPO at Rs 54 to Rs 57 per equity share. On the back of strong interest shown by retail and non-institutional investors, the issue was subscribed 7.09 times overall.
Against the 13.35 crore shares issued by the company, the issue received bids of 95.05 crore shares, according to the data available on exchanges. Overall, the issue was subscribed 7.52 times
The non-banking financial company (NBFC) is planning to raise Rs 1,025 crore through public issue, which includes a fresh issuance of shares aggregating to Rs 600 crore and an offer for sale (OFS) of Rs 425 crore by promoters.
SBFC Finance has said that it will use fresh issue proceeds, barring IPO expenses, mostly for increasing its capital…
