SBFC Finance hits primary market

So let’s start with the mainboard IPO that is SBFC Finance.

The company is one of the major NBFCs that provides funds to small business owners, salaried professionals and entrepreneurs. It has a presence in 120 cities in 18 states and union terrotories.

The IPO has a price band of Rs 54 to 57. It will remain open for bidding from 3rd August to 7th August. The company is looking to raise Rs 1,025 crore and Rs 600 out of it is fresh issue. While existing investors will get Rs 425 crore from the IPO through OFS. On first  day by 12 PM it got subscribed 56% and it has GMP of Rs 39 per share. This implies opening at a premium of 68.42%.

With this, let’s move to the SME board.

On SME Board Yasons Chemex Care got listed at a discount. It got listed on NSE at a share price of Rs 32 while its issue price was Rs 40 per share. It got listed at a discount of 20%. Although during the bidding the IPO got a good response as it got subscribed 59.6 times. The company raised a total Rs 20.57 crore from the IPO.

Besides this,  there are two IPOs that are open for subscription on SME board. They are Vinsys IT Services and Oriana Power. Vinsys IT Services got subscribed 11.48 times and its GMP is Rs 70 per share. Meanwhile, Oriana Power is getting a better response, it is subscribed 45.76 times. In the grey market company’s shares are trading at a premium of Rs 103 per share.