SBFC Finance gets Sebi nod for Rs 1200 cr IPO
Mumbai: SBFC Finance Limited a non-deposit-taking non-banking finance company on Tuesday said it has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).
The initial share-sale comprises fresh issuance of equity shares worth Rs 750 crore and an Offer for Sale (OFS) of Rs 450 crore.
The company had refiled preliminary IPO papers with Sebi in March 2023.
The offer for sale comprises up to Rs 207.75 crore by Arpwood Partners Investment Advisors LLP, Rs 50.99 crore by Arpwood Capital Private Limited, Rs 41.26 crore by Eight45 Services LLP, and Rs 150 crore by SBFC Holdings Pte. Ltd. The offer also includes a reservation for subscription by eligible employees, according to a media release.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Investors.
The company in consultation with merchant bankers may consider issuing equity shares on a private placement basis, aggregating up to Rs. 150 crores. If such Pre-IPO placement is completed, the fresh issue size will be reduced.
The proceeds from the fresh issuance worth Rs 750 crores will be used towards augmentation of its capital base to meet future capital requirements. As of December 31,2022 the companies CRAR stood at 33.23%.
(With UNI Inputs)
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
With heavy hearts, devotees bid farewell to Goddess Durga across Northeast
13, including 10 children, die in two separate Durga idol immersion tragedies in Madhya Pradesh
Prez Droupadi Murmu, PM Modi pay tributes to Mahatma Gandhi and Lal Bahadur Shastri on birth anniversaries
Centre orders probe into Tamil Nadu-based cargo firm Wintrack Inc’s charges against Chennai Customs
