SBFC Finance IPO allotment today: Check your application status & latest GMP

SBFC Finance is likely to finalise the basis of allotment of its shares on Thursday. The Rs 1,025-crore primary offering of the shadow lender had received a robust response from the investors during the bidding process and was overall subscribed more than 74 times.

The IPO of SBFC Finance was sold in the range of Rs 54-57 apiece with a lot size of 260 shares between August 3-7. The portion for qualified institutional bidders was booked 203.61 times, while the non-institutional investors' category was subscribed 51.82 times. The quota reserved for retail investors was subscribed 11.60 times, while the employee portion fetched 6.21 times bids.

Grey market premium (GMP) of SBFC Finance has remained largely stable. Last head, SBFC Finance was commanding a premium of Rs 38-40 in the grey market, which was around the same levels on Wednesday. The current grey market signal suggests a listing of 70 per cent for the investors receiving the allotment.

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Incorporated in 2008, SBFC Finance is a non-banking finance company which provides secured MSME loans and loans against gold primarily to entrepreneurs, small business owners, self-employed individuals, and salaried and working-class individuals. The company has an extensive pan-India network in over 157 Branches in 105 cities in 16 states and two union territories.

A majority of the brokerage firms are positive on the issue, suggesting investors to subscribe to the issue citing its pan India network, strong return ratios, superior business model and lower cost of funds. However, they have also flagged risks of higher valuations and rate sensitive factors as the key risks for the company.

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Investors, who had bid for the issue and have not checked their application status, can check the allotment status on the Bombay Stock Exchange (BSE) website, which is https://www.bseindia.com/investors/appli_check.aspx. They can check Equity as issue type and select the company name to proceed. One needs to only add application numbers and the PAN card ID before checking 'I am not a Robot' and hitting submit.

Investors can also check the allotment status on the online portal of Kfin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue. Select the company name from all options, if the allotment is finalised.  Fill either application number, Demat Account number, or PAN ID and the captcha accurately, before hitting submit.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

Bidders who could not get allotment in the IPO may see the initialisation of refunds on Friday, August 11. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Monday, August 14. The listing of the IPO is likely on Wednesday. August 16. 

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