SBFC Finance Ltd's IPO to open on Thursday, August 3, 2023, Sets price band at Rs 54 – 57 per Equity share

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by Samiksha Chogule

Price Band of Rs 54 – Rs 57 per equity share bearing face value of  Rs 10 each (“Equity Shares”) 

Bid/Offer Opening Date – Thursday, August 3, 2023 and Bid/Offer Closing Date – Monday, August 7, 2023. 

Minimum Bid Lot is 260 Equity Shares and in multiples of 260 Equity Shares thereafter. 

The Floor Price is 5.4 times the face value of the Equity Share and the Cap Price is 5.7 times the face value of the Equity Share.

MUMBAI, JULY 31, 2023 : SBFC Finance Limited (”Company”) is a systemically important, non-deposit taking non-banking finance company (“NBFC-ND-SI”) offering Secured MSME Loans and Loans against Gold, with a majority of its borrowers being entrepreneurs, small business owners, self-employed individuals, salaried and working class individuals has fixed the price band at Rs 54 to Rs 57 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Thursday, August 3, 2023, for subscription and closes on Monday, August 7, 2023. Investors can bid for a minimum of 260 Equity Shares and in multiples of 260 Equity Shares thereafter. 

The Public Issue of face value of ₹10 per Equity Share comprises of fresh issuance of equity shares worth Rs 600 crore and an Offer for Sale of Rs 425 crore. 

SBFC Finance is an NBFC in India that concentrates on supporting Micro, Small, and Medium Enterprises (“MSMEs”). According to a CRISIL Report, among MSME-focused NBFCs in India, the company has achieved one of the highest growth in its assets under management (“AUM”), with a Compound Annual Growth Rate (“CAGR”) of 44% during the period from Fiscal 2019 to Fiscal 2023. Additionally, it has experienced robust disbursement growth, with a CAGR of 40% between Fiscal 2021 and Fiscal 2023. As of March 31, 2023, the average ticket size for its Secured MSME Loans stood at Rs 0.99 million and for its Loans Against Gold stood at Rs 0.09 million, based on disbursed amounts. The Company’s total AUM as of March 31, 2023, amounted to Rs 4,942.82 crore, and it had provided loans to 102,722 customers as of such date.

The Company primarily caters to customers in tier II and tier III cities, thereby fostering entrepreneurship in these regions. It focuses on serving customers who have a strong credit history but may lack formal proof of income documents. By focusing on this niche, the Company aims to address the funding needs of underserved individuals and businesses. As of March 31, 2023, the Company boasts an expansive footprint in 120 cities across 16 Indian states and two union territories, operating through a network of 152 branches. This widespread presence enables the Company to reach a diverse customer base and provide financial assistance to those in need throughout the country. 

ICICI Securities Limited, Axis Capital Limited, and Kotak Mahindra Capital Company Limited are the book running lead managers to the Offer and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.


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