Sotefin Bharat IPO day 1: The initial public offering (IPO) of Sotefin Bharat opened for public subscription on Thursday, 16 July. The SME IPO is entirely a fresh issue of 48 lakh shares, aimed at raising about ₹90 crore.
The BSE SME IPO is witnessing tepid buying interest, while grey-market trends indicate the stock could list at a modest premium to the issue price.
Meanwhile, ahead of the share sale, the company raised ₹25.58 crore by allocating 13,68,000 shares to anchor investors at a price of ₹187 per share.
Sotefin Bharat IPO GMP
As per grey market sources, Sotefin Bharat IPO GMP on Thursday morning was ₹27. This indicated the stock could list at ₹214 on the BSE SME, a premium of over 14% over the issue price of ₹187.
Sotefin Bharat IPO subscription status
By 12:30 PM on Thursday, the issue had seen an overall subscription of 0.11 times, with the retail portion booked 0.18 times, and the segment reserved for NIIs subscribed to 0.11 times. QIB’s portion was yet to see any subscription till that time.
(This is a developing story. Please check back for fresh updates.)
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