The new-age financial services company SBFC Finance Limited made a strong debut on the National Stock Exchange (NSE) today as its shares opened at Rs 82 apiece, a 44% premium over the IPO price of Rs 57 per share. The issue opened between 3rd-7th August and was subscribed 74.06 times with high interest from qualified institutional and high net worth investors.
Decent profits
Considering the negative sentiment for the issue after the end of subscription period, the listing has turned decent profits for the investors. For the past week, the grey market premium had been faring around Rs 30 which as it turns out, was well on point.
As the company’s shares landed at Rs 82 per piece, the investors made a profit on Rs 27 per share.
- Profit to retail investors- Rs 6,500/-
- Profit to small and big HNIs- Rs 91,000/-
All in all, the profit-turning IPO season that began with Mankind Pharma‘s listing around 3 months ago is still going well. And with some strong companies such poised for the issue and few having filed their applications with SEBI, the upcoming months look hopeful.
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