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SBFC Finance IPO grey market premium falls. Will it still debut on a strong note?
SBFC Finance likely to see 35-40 percent premium over issue price of Rs 57 per share.
Author: ET
Published: August 15, 2023
When SBFC Finance gets listed on August 16, it is likely to debut with a 35-40 percent premium over its issue price of Rs 57 per share, against the 70 percent premium that was expected earlier.
When SBFC Finance gets listed on August 16, it is likely to debut with a 35-40 percent premium over its issue price of Rs 57 per share, against the 70 percent premium that was expected earlier.
In more than three-and-a-half weeks, especially since July 20 when Nifty hit a record high of 19,992, the index has corrected around 3 percent and experts largely expect the consolidation to continue in the market. The runaway rally since the end of March is unlikely in the coming weeks.
Till last week, SBFC traded consistently with a 70 percent premium in the grey market, but since the start of current week, the premium dropped up to 40-45 percent over the upper price band, analysts said on conditions of anonymity. The grey market is an unofficial market for trading IPO shares till listing.