Aug 3, 2023
By: Sourabh Jain
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Mumbai-based SBFC Finance is all set to begin its initial public offering from Aug 3 (Wednesday).
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The IPO will open on August 3 and close on August 7.
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SBFC Finance has fixed a price band of ₹54-57 per share for its public issue.
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SBFC Finance is looking to raise ₹1,025 crore from the current IPO. This includes fresh issuance of equity shares worth ₹600 crore and an offer for sale of ₹425 crore.
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Investors can bid for a minimum of 260 shares and in multiples of 260 shares thereafter.
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SBFC Finance is a non-deposit-taking non-banking finance company (NBFC) offering secured MSME loans, and loans against gold.
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It has a footprint in 120 cities across 16 Indian states and two union territories, operating through a network of 152 branches.
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The company’s income was ₹654 crore in FY23, up from ₹473 crore in FY22. The company had a net profit of ₹149.7 crore in FY23, up from ₹64.5 crore in FY22.
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There have been instances of non-compliances in the past with rules and regulations. It may be subject to certain penal actions if it fails to comply with such rules and regulations.
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The company also lists business risks like non-payment or default by its borrowers that may adversely affect its business, results of operations and financial condition.
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