The initial public offering (IPO) of SFC Environmental Technologies saw a pick-up in investor demand on the last day of bidding, with the issue receiving 67 percent subscription by 12:15 pm on October 29, as per NSE data.
The Rs 667.5 crore IPO recorded bids for 94,20,390 shares against 1,41,59,744 shares on offer. Non-institutional investors led the demand with 1.08 times subscription, followed by retail investors with 52 percent subscription.
In the grey market, SFC Environmental Technologies shares were commanding a grey market premium of 2 percent on the morning of October 29, as per InvestorGain.
The grey market premium is an unofficial indicator of investor sentiment towards a public issue before its listing. However, it does not guarantee listing gains, and the premium can fluctuate depending on market conditions and investor demand.
The company has fixed the IPO price band at Rs 313–330 per share. At the upper end of the price band, SFC Environmental Technologies is valued at Rs 3,232.5 crore.