SBFC Finance IPO: After finalisation of share allotment, all eyes are now focussed on SBFC Finance IPO listing date, which is most likely on 16th August 2023. As per the information available in BSE notice, equity shares of SBFC Finance Limited shall be listed and admitted to dealings on the exchange in due course. Meanwhile, grey market continues to signal strong debut of SBFC Finance shares.
According to market observers, shares of SBFC Finance Limited are available at a premium of ₹28 in grey market today. As per the market observers, SBFC Finance IPO grey market premium (GMP) today is ₹28, which is ₹2.50 below its yesterday's GMP of ₹30.50 per share. Market observers said that despite trend reversal on Dalal Street and weak global market cues, grey market has managed to remain strong as it is still near 50 per cent higher from its price band of ₹54 to ₹57 per equity share.
They said that SBFC Finance IPO GMP has corrected from ₹40 to ₹28 in last one week. However, despite dip in GMP of the public issue, experts advised allottees to expect strong listing gain on SBFC Finance IPO listing date, which is most likely on 16th August 2023. Market observers said that SBFC Finance IPO GMP today is ₹28, which means grey market is expecting that SBFC Finance IPO listing price would be around ₹85 ( ₹57 + ₹28), which is around 50 per cent higher from SBFC Finance IPO price band of ₹54 to ₹57.
This means grey market is signaling strong debut of SBFC Finance shares. However, stock market experts maintained that GMP is not an ideal indicator for assessing expecting listing premium from any IPO. They went on to add that grey market is non-regulated and completely speculative.
Read more on livemint.com