MUMBAI: The Initial Public Offer (IPO) of non-banking finance company SBFC Finance was subscribed 7 times on the second day of subscription on Friday.
The Rs 1,025 crore-initial share sale received bids for 94,60,90,080 shares against 13,35,12,817 shares on offer, according to data available with the NSE.
The quota for non-institutional investors received 12.95 times subscription while the portion for qualified institutional buyers (QIBs) was subscribed 6.71 times. Retail category individual investors (RIIs) garnered 4.93 times subscription.
The IPO has a fresh issue up to Rs 600 crore and an offer for sale of up to Rs 425 crore. The IPO is in a price range of Rs 54-57 a share. SBFC Finance’s IPO was fully subscribed on the first day of subscription on Thursday.