Investors are flocking to the non-banking finance company, SBFC Finance, with its IPO being oversubscribed an impressive 74 times.
Anticipation is further fueled by a robust response in the gray market.
The subscription window for SBFC Finance’s IPO opened on August 3 and successfully closed on August 7.
Listing on the stock exchange is anticipated by August 16.
Gray Market Premium Hits Rs. 40
Excitement is mounting as the gray market premium for SBFC Finance’s shares soars to Rs. 40.
With the IPO’s price band set at Rs. 54-57, this premium positions potential profits substantially.
If the shares are allotted at the upper price band of Rs. 57, they could debut on the stock exchange at Rs. 97.
This suggests a potential gain of over 70% for IPO investors on the listing day. The allotment of shares will be finalized on August 10.
IPO Oversubscribed More Than 74 Times
The SBFC Finance IPO has garnered an astonishing oversubscription of 74.03 times, according to data available up to the time of this report.
The retail investor quota witnessed an 11.54 times oversubscription, while the Qualified Institutional Investors (QIB) category saw an overwhelming 203.61 times subscription.
Non-Institutional Investors (NII) showed substantial interest with a 51.81 times oversubscription, and even the Employees’ Quota received healthy interest at 6.15 times oversubscription.
Important Note
It’s essential to note that this information solely reflects stock performance and is not intended as investment advice.
Investing in the stock market carries inherent risks, and seeking advice from a financial advisor prior to making investment decisions is strongly recommended.
