SBFC Finance Shares List At 44% Premium Over IPO Price; Should You Buy, Sell or Hold? - News18
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Last Updated: August 16, 2023, 11:41 IST SBFC Finance shares made a strong debut in the secondary market on Wednesday SBFC Finance Ltd made a robust premium of 43.8 per cent on the exchanges; Should you buy, sell or hold? SBFC Finance IPO Listing: SBFC Finance Ltd made a robust premium of 43.8 per cent on the exchanges in Wednesday’s trade. The stock debuted at Rs 82 on NSE over the IPO price of Rs 57 apiece. Meanwhile, on BSE it listed at Rs 81.99 per share. Mumbai-based non-banking financial company (NBFC) SBFC Finance’s IPO — comprising fresh issuance worth Rs 600 crore and an offer for sale (OFS) of Rs 425 crore — concluded last week with an overall subscription of 70 times the equity on offer. The initial share sale received bids for 936.8 crore shares as against the 13.4 crore shares on offer, driven by strong participation from institutional investors, according to provisional exchange data. The public issue subscribed 11.60 times in the retail category, 203.61 time...