“SBFC Finance IPO Allotment: How to Check Status and Latest GMP [2023 Guide]”

It is likely that the initial public offering (IPO) allotment for the non-banking financial company SBIFaC Finance has been finalized today. Investors can check the status of their allotment on the registrar Kfin Technologies’ website as well as on the BSE.”SBFC Finance IPO Allotment: How to Check Status and Latest GMP.

The IPO of SBIFC Finance, with a size of ₹1,025 crores, was open for subscription from Thursday, August 3rd, and closed on Saturday, August 7th. The offer price was set in the range of ₹54-57 per share. This IPO, scheduled to launch in August 2023, marked the company’s first public offering.”SBFC Finance IPO Allotment: How to Check Status and Latest GMP."SBFC Finance IPO Allotment: How to Check Status and Latest GMP

This offering includes the issuance of ₹600 crores worth of new shares and the sale of ₹425 crores worth of shares by the promoters through the Offer for Sale (OFS).

The IPO received a strong response from investors, being oversubscribed by a staggering 74.06 times within just 3 days of bidding. Institutional investors subscribed 203.61 times their allocated portion, while the non-institutional category was subscribed 51.82 times. Retail investors, who were allotted a reserved quota, oversubscribed it by 11.60 times, and employees’ portion saw 6.21 times oversubscription."SBFC Finance IPO Allotment: How to Check Status and Latest GMP

The company is likely to be listed on the BSE and NSE on Wednesday, August 16th.

Here’s how you can check your allotment status:
On BSE:

Visit the website.
Select ‘Equity’ and then choose the issue name (SBIFC Finance) from the dropdown.
Enter your application number and PAN card number.
Click on the “Search” button.
Similarly, you can also check on the registrar’s website:

Go to Kfin Technologies’ website.
Click on ‘Company Selection’ and choose the IPO name (SBIFC Finance).
Now, enter your PAN, application number, DP/Client ID, or account number/IFSC.
Click on ‘Search’.
The status will be displayed only if the details are entered correctly. In case of non-allotment, the blocked amount will be refunded to your bank account. The company will initiate refunds on Friday, August 11th, and shares will be credited to demat accounts of allottees on Monday, August 14th. “SBFC Finance IPO Allotment: How to Check Status and Latest GMP.

Before the IPO, the company’s shares were trading in the grey market at a premium of ₹40, indicating strong interest. However, it’s important to note that the grey market premium reflects the company’s performance in the unlisted market and can change quickly.

Apart from covering IPO expenses, SBIFC Finance will use the fresh net proceeds primarily to enhance its capital base to meet future funding requirements arising from business and asset growth, while the OFS proceeds will go to selling shareholders.

Established in 2008, SBIFC Finance is a non-banking financial company that primarily offers secured MSME loans and personal loans to entrepreneurs, small business owners, self-employed individuals, and salaried employees in exchange for gold. It operates a widespread pan-Indian network with over 157 branches in 105 cities across 16 states and two union”SBFC Finance IPO Allotment: How to Check Status and Latest GMP.

Most brokerage firms recommended subscribing to this IPO due to its extensive nationwide network, strong return ratio, robust business model, and low fund cost. However, some have cited the risk of high valuation and potential pressure on margins as significant concerns for the company.

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