SFC Environmental Technologies, a Navi Mumbai-based wastewater treatment and environmental technology solutions provider, opened its initial public offering (IPO) today, with the issue receiving 4 percent subscription by 11:40 am on October 27, as per NSE data.
The Rs 667.5 crore IPO recorded bids for 5,95,485 shares against 1,41,59,744 shares on offer. Retail investors led the demand with 7 percent subscription, followed by non-institutional investors with 2 percent subscription.
In the grey market, the SFC Environmental Technologies shares were commanding a grey market premium of 6 percent o the morning of October 27, as per Investorgain.
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.
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.