SBFC Finance Shares Soar on Listing: A 44% Premium
SBFC Finance has made an impressive debut on both the NSE and BSE stock exchanges. The shares, initially priced at Rs 57 per share, were listed on the NSE at Rs 82 per share, indicating a substantial premium of about 44%. This surge translates to a handsome profit of around Rs 25 per share for investors who were allotted shares in the IPO.
BSE Listing Price: On the BSE, SBFC Finance shares were listed at Rs 81.99, also showcasing a strong premium of approximately 43.8%.
Successful IPO: The IPO of SBFC Finance had garnered significant investor interest, with the issue being oversubscribed by more than 70 times. The subscription window for the IPO was open from August 3 to August 7. The company had set the price band for the IPO at Rs 54 to Rs 57 per share.
Gray Market Premium: Leading up to the listing, SBFC Finance shares were trading at a premium of Rs 26 in the gray market. The listing price of the shares closely aligns with this gray market premium.
About SBFC Finance: SBFC Finance primarily focuses on providing loans to micro, small, and medium-sized enterprises (MSMEs). Additionally, it extends loans to salaried individuals and employees. The company’s mission is to cater to individuals and businesses that often face difficulties obtaining loans from traditional banks.
The successful listing and premium price of SBFC Finance shares reflect the market’s positive response to the company’s prospects and offerings. This event highlights the confidence investors have in SBFC Finance’s business model and growth potential.