New Delhi, The Initial Public Offer (IPO) of non-banking finance company SBFC Finance was subscribed 7 times on the second day of subscription on Friday. The Rs 1,025 crore-initial share sale received bids for 94,60,90,080 shares against 13,35,12,817 shares on offer, according to data available with the NSE.
The quota for non-institutional investors received 12.95 times subscription while the portion for Qualified Institutional Buyers (QIBs) was subscribed 6.71 times. The category for Retail Individual Investors (RIIs) garnered 4.93 times subscription.
The IPO has a fresh issue aggregating up to Rs 600 crore and an offer for sale of up to Rs 425 crore.
The IPO is in a price range of Rs 54-57 a share.
The SBFC Finance’s IPO was fully subscribed on the first day of subscription on Thursday.
SBFC Finance Ltd on Wednesday said it has raised a little over Rs 304 crore from anchor investors.
The company will utilise the net proceeds from the issue towards augmenting the company’s capital base to meet its future capital requirements arising out of the growth of its business and assets.
ICICI Securities, Axis Capital and Kotak Mahindra Capital Company are the managers to the offer.
The equity shares are proposed to be listed on NSE and BSE.
