New Delhi, The Initial Public Offer (IPO) of non-banking finance company SBFC Finance got subscribed 75.80 times on the last day of subscription on Monday, helped by an overwhelming participation from institutional buyers. The Rs 1,025 crore-initial share sale received bids for 7,98,38,68,100 shares against 10,53,25,317 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) was subscribed a whopping 192.89 times while non-institutional investors quota received 49.09 times subscription. The portion meant for Retail Individual Investors (RIIs) got subscribed 10.99 times.
The IPO had a fresh issue aggregating up to Rs 600 crore and an offer for sale of up to Rs 425 crore.
Price range for the offer was Rs 54-57 a share.
The company’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 were the managers to the offer.
The equity shares are proposed to be listed on NSE and BSE.
