SBFC Finance IPO: What does the latest GMP signal ahead of listing date; Check key details here
IPO listing date is 16th August 2023. SBFC Finance IPO share allotment was fixed on August 10, while the shares were credited to the eligible investors' demat accounts on August 14. The investors who received have the SBFC Finance shares will now look for the grey market premium for the expected listing price.
Meanwhile, ahead of SBFC Finance IPO listing, the grey market continues to remain strong in regard to the public issue worth ₹1,025 crore. According to market observers, shares of SBFC Finance Limited are available at a premium of ₹30 in the grey market today. According to the latest grey market price details as on August 14th, 2023, market observers said that SBFC Finance shares are trading at a premium of ₹30 in the grey market.
It means that the SBFC Finance IPO GMP today is ₹30. This is ₹4 higher from its Friday GMP of ₹26. The grey market is expecting that SBFC Finance IPO listing price would be around ₹87 ( ₹57 + ₹30), which is more than 50% premium to the SBFC Finance IPO price band of ₹54 to ₹57 per equity share.
However, stock market experts maintained that GMP is not an ideal indicator for assessing the listing premium from any IPO. They went on to add that the grey market is non-regulated and completely speculative. One should stick to the basics and rely on the balance sheet of the company.
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