Scrip Closes At 92% Above Issue Price

SBFC Finance will continue to reimagine lending, by expanding its network and innovating products, Aseem Dhru, MD and CEO, said.

MUMBAI, Aug 16 (The CONNECT) – SBFC Finance Limited today made  a strong debut on the exchanges and listed Rs 81.99 per share on BSE and Rs 82 per share on NSE, at a premium of 43.84% and 43.86% respectively.

The scrip listed The company’s share price closed at Rs 92.21 per share on the BSE, a 61.77% premium, and at Rs 92.65 per share on the NSE, a 62.54% premium.

As per NSE, the total quantity traded stood at 2044.17 lakh shares, on BSE the total Quantity stood at 109.19 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1915.21 crore.  ICICI Securities Limited, Axis Capital Limited and Kotak Mahindra Capital Company Limited are the book running lead managers, while KFin Technologies Limited is the registrar to the offer.

Aseem Dhru, MD and CEO of SBFC Finance, said “the IPO begins an important new chapter in our mission to partner with India’s entrepreneurs on their journey to prosperity for their businesses and their families”.

SBFC will continue to reimagine lending, by expanding its network and innovating products to serve the needs of India’s micro, small and medium sized enterprises (MSMEs), which are the engines of the country’s economy, he said.

“It has been a remarkable team effort to get SBFC to this moment in our journey while always keeping the customer at the centre of everything we do,” said Mahesh Dayani, Chief Business Officer of SBFC Finance.

The Market Capitalization of the Company at today’s closing price stood at Rs. 9,813.09 Crore as per BSE and Rs. 9,859.91 Crore as per NSE.

SBFC Finance is an NBFC in India that concentrates on supporting MSMEs. According to a CRISIL report, the company has achieved one of the highest growth in its assets under management (AUM) among MSME-focused NBFCs in India,, with a Compound Annual Growth Rate (CAGR) of 44% from Fiscal 2019 to Fiscal 2023.

The Company primarily caters to customers in tier II and tier III cities and focuses on serving customers who have a strong credit history but may lack formal proof of income documents. As of March 31, 2023, SBFC has  an expansive footprint in 120 cities across 16 Indian states and two union territories, operating through a network of 152 branches.