The initial public offering (IPO) SBFC Finance, a non-banking finance company, was subscribed 70.16 times by the evening of August 7, the final day of bidding.
Investors bid for 936.76 crore equity shares against an offer size of 13.35 crore, subscription data available with the exchanges showed.
Retail investors bought 10.99 times their allotted quota, while the portion set aside for employees, who will get Rs 10.25 crore worth of shares, was subscribed 5.87 times.
High networth individuals (HNIs) bid 49.09 times their reserved portion and qualified institutional buyers (QIBs) 192.9 times. Half of the issue is reserved for QIBs, 15 percent for HNIs and the remaining 35 percent shares have been set aside for retail investors.
Also read: SBFC Finance IPO | 10 things to know before buying shares
The Clermont Group and Arpwood Group-backed NBFC are looking to raise Rs 1,025 crore through the IPO, which comprises a fresh issue of shares worth Rs 600 crore, while three Arpwood Group-owned firms want to sell shares worth Rs 425 crore.
The price band for the offer, which opened on August 3, has been fixed at Rs 54-57 a share.
SBFC Finance has mopped up Rs 304.42 crore from anchor investors, including Abu Dhabi Investment Authority, Steadview Capital Master Fund, Amansa Holdings, Carmignac Portfolio, Think India Opportunities Master Fund LP, SBI Mutual Fund, ICICI Prudential, and Tata Mutual Fund.
The proceeds from the fresh will be used for augmenting SBFC's capital base as it expands the business, the company has said.
The non-banking finance company will finalise the basis of allotment by August 10 and the shares will be transferred to the demat accounts of eligible investors by August 14.
Also read: SBFC Finance IPO: Does this lender have anything new to offer?
Refunds will be credited to the accounts of unsuccessful investors by August 11. The stock will list on August 16.
In the grey market, SBFC Finance shares were available at a 70 percent premium to the upper price band, analysts said on anonymity.
The grey market is an unofficial platform for trading in IPO shares and is largely tracked for gauging the listing price.
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