The initial public offering (IPO) of SFC Environmental Technologies saw subdued demand on the second day of bidding, with the issue receiving 16 percent subscription by 11:42 am on October 28, as per NSE data.
The Rs 667.5 crore IPO recorded bids for 22,11,660 shares against 1,41,59,744 shares on offer. Retail investors led the demand with 24 percent subscription, followed by non-institutional investors with 18 percent subscription.
In the grey market, SFC Environmental Technologies shares were commanding a grey market premium of 5 percent on the morning of October 28, 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.