On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. They can check the allotment status through the BSE or by visiting the registrar’s website.
Here’s how you can check the status on BSE.
Step 1: Visit the BSE Website
Step 2: Please select the issue name, that is the company’s name in the drop-down.
Step 3: Enter the application number or PAN number to check the allotment status.
The company’s shares are expected to get listed on the exchanges on August 16. According to market sources, SBFC Finance is commanding a premium of Rs 39 in the unlisted market.Led by the robust institutional response, the initial public offer (IPO) of SBFC Finance was subscribed by a massive 70.16 times at close. Monday was the last day of bidding for investors.
The QIB portion of the IPO was subscribed by an overwhelming 192 times, followed by non-institutional investors 49 times and retail investors nearly 11 times.
At the upper price band of Rs 57 per share, the stock is expected to be listed at a strong premium of nearly 70%.
SBFC Finance is a non-deposit-taking, non-banking financial company offering loans including secured MSME loans and loans against gold.
The key competitive strengths include its pan-India presence, in-house sourcing, and comprehensive credit assessment, underwriting, and risk management framework.
The proceeds from the fresh issuance worth Rs 600 crore will be used to boost its capital base to meet future capital requirements.
For the year ending March 2023, the company’s revenues were Rs 740 crore. The profit for the period was Rs 149.7 crore.
ICICI Securities, Axis Capital, and Kotak Mahindra Capital Company acted as the book-running lead managers and KFin Technologies was the registrar of the offer.
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