SBFC Finance IPO
SBFC Finance Limited (SBFC) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 16 August 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +39.8% (likely range +20% to +43%), day's high +48.5%, chance of a gain 92%. Actual: +43.9% at the open, +67.5% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 3,75,83,331 | 7,24,96,36,160 | 193x | |
| NII (HNI) total | 2,81,87,500 | 1,38,37,71,480 | 49.1x | |
| Big NII (above ₹10 lakh) | 1,87,91,666 | 1,00,92,67,740 | 53.7x | |
| Small NII (₹2-10 lakh) | 93,95,834 | 37,45,03,740 | 39.9x | |
| Retail | 6,57,70,833 | 72,26,80,400 | 11.0x | |
| Employees | 19,71,153 | 1,15,75,460 | 5.87x | |
| Total | 13,35,12,817 | 9,36,76,63,500 | 70.2x |
Bids on NSE and BSE together, as published by NSE, as of 07 Aug 2023, 07:00 PM. Shares offered exclude the anchor portion. 7% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to SBFC Finance's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| IKIO LightingJun 2023 | 164x | 63.4x | 13.9x | 66.3x | ₹615 Cr | +37.7% | +50.0% |
| Harsha Engineers InternationalSep 2022 | 178x | 71.3x | 17.6x | 74.7x | ₹794 Cr | +36.4% | +59.9% |
| Senco GoldJul 2023 | 181x | 65.0x | 15.5x | 73.4x | ₹427 Cr | +35.6% | +40.1% |
| Netweb Technologies IndiaJul 2023 | 229x | 81.8x | 19.2x | 90.4x | ₹625 Cr | +89.4% | +90.4% |
| Campus ActivewearApr 2022 | 152x | 22.3x | 7.68x | 51.8x | ₹1,400 Cr | +23.3% | +43.1% |
| MedPlus Health ServicesDec 2021 | 112x | 85.3x | 5.23x | 52.6x | ₹1,428 Cr | +30.6% | +43.7% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| Axis Capital | 107 | +20.4% | 73% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
Offer documents (NSE)
Frequently asked
What is the SBFC Finance IPO price band and lot size? ₹54.0–57.0 per share, with a lot of 260 shares, so the smallest retail bid is ₹14,820.
How many times has it been subscribed? 70.2x overall: QIB 193x, NII 49.1x, retail 11.0x, employees 5.87x.
How did it list? It opened at ₹82.0, +43.9% against the issue price of ₹57.0, and closed its first day +61.8%.
