The Rs 1,025 crore-initial share sale received bids for 798 crore equity shares against an offer size of 10.53 crore shares, subscription data available with the exchanges showed.

The quota reserved for retail individual investors (RIIs) was subscribed 10.99 times, qualified institutional buyers by 192.89 times and non-institutional investors(NIIS) by 49.09 times. Meanwhile, the portion set aside for employees, who will get Rs 10.25 crore worth of shares, was subscribed 5.87 times.

SBFC Finance is selling its shares in the range of Rs 54-57 a share.

SBFC Finance is focused on secured MSME loans and loans against gold, which contributed 80 percent and 17 percent to its total assets under management (AUM) of Rs 4,943 crore in FY23. It has 152 branches in 120 cities in India.