SBFC Finance IPO allotment today: Here’s how to check application status
The primary offering of SBFC Finance, amounting to Rs 1,025 crore, received a strong response from investors during the bidding period.
In Short
- SBFC Finance IPO allotment today, strong investor response observed
- Check allotment status via BSE website or Kfin Technologies portal
- Grey Market Premium stable, indicating potential 64% listing premium
SBFC Finance IPO allotment is scheduled for today. The company is set to finalise the allocation of its shares on Thursday.
The primary offering of the new-age financial services firm, amounting to Rs 1,025 crore, received a strong response from investors during the bidding period, with an oversubscription of over 74 times.
How to check allotment status
For investors who participated in the IPO and have yet to verify their application status, the Bombay Stock Exchange (BSE) website provides a platform to check allotment status. By selecting Equity as the issue type and choosing the company name, applicants can enter their application numbers and PAN card IDs before proceeding.
Another option is to verify allotment status through the online portal of Kfin Technologies Limited, the issue's registrar. If allotment is confirmed, applicants can use their application number, Demat Account number, or PAN ID, along with the captcha, to access their status.
For unsuccessful bidders, refunds are expected to be initiated on Friday, August 11, while those who receive share allotments may find their shares credited to their Demat accounts by Monday, August 14. The anticipated date for the IPO listing is Wednesday, August 16.
All about the IPO
The IPO for SBFC Finance was available in the price range of Rs 54 to Rs 57 per share, with a lot size of 260 shares. The bidding window was open from August 3 to August 7.
Qualified institutional bidders oversubscribed their portion by 203.61 times, while non-institutional investors subscribed by 51.82 times. Retail investors subscribed 11.60 times, and the employee segment garnered 6.21 times bids.
The Grey Market Premium (GMP) for SBFC Finance has displayed stability. Recently, it stood at a premium of Rs 36 on the grey market, maintaining similar levels on Wednesday.
The current grey market signals indicate a potential listing at 64 per cent premium for the allotted investors.
Established in 2008, SBFC Finance is a non-banking financial company specializing in secured MSME loans and loans against gold, primarily catering to entrepreneurs, small business owners, self-employed individuals, and salaried professionals.
With a wide network spanning 157 branches across 105 cities in 16 states and two union territories, the company's presence is pan-India.
Most brokerage firms hold a positive outlook on the IPO, encouraging investors to subscribe due to SBFC Finance's expansive nationwide reach, robust return ratios, effective business model, and competitive cost of funds.
However, they also highlight potential risks associated with higher valuations and sensitivity to interest rate fluctuations.
