SBFC Finance IPO: GMP jumps after strong subscription status. Should you apply as bidding ends on Monday?
SBFC Finance IPO: The initial public offering (IPO) of SBFC Finance Limited opened for bidding on 3rd August 2023 and the public offer will remain open for bidding till 7th August 2023. This means, there is just one trade sesion left for investors who want to apply for the SBFC Finance IPO. After two days of bidding, SBFC Finance IPO subscription status suggests that investors are looking at the initial offer with interest as it has been subscribed over 7 times in two days of subscription.
Meanwhile, grey market is also dropping positive signals in regard to SBFC Finance IPO. According to market observers, SBFC Finance shares are available at a premium of ₹40 in grey market today. As per the market observers, SBFC Finance IPO grey market premium (GMP) today is ₹40, which is Re 1 higher from Friday GMP of ₹39.
They said that Indian stock market snapping its three days losing streak has played a big role in lifting the grey market mood about the SBFC Finance IPO. They said that unlisted stock market mood may further improve if the rally gets extended on Monday. Observers went on to add that grey market is signaling strong listing gain from the public offer on SBFC Finance IPO listing date, which is most likely on 16th August 2023.
They said that SBFC Finance IPO GMP of ₹40, is around 70 per cent higher from the SBFC Finance IPO price band of ₹54 to ₹57 per equity share. This means grey market today is expecting over 70 per cent gain for investors on SBFC Finance IPO listing date, which is most likely on 16th August 2023. In two days of bidding, SBFC Finance IPO has been subscribed 7.09 times whereas its retail portion has been subscribed 4.93 times.
Read more on livemint.com
