Sotefin Bharat IPO opens with 22% subscription, gray market premium
Business
Sotefin Bharat's IPO kicked off this week, but investor interest was pretty mild, just 22% subscribed on day one.
The company's aiming to raise ₹90 crore, and while the official response is slow, its shares are trading at over a 10% premium in the gray market compared to the ₹178-187 price band.
Sotefin Bharat anchors 25.58cr, retail 37%
Retail investors took up 37% of their quota, non-institutional buyers just 17%, and big institutional players sat this one out.
Before opening to the public, Sotefin Bharat raised ₹25.58 crore from anchor investors like Aidos India Fund and Vikasa India.
The funds will help set up a Kolkata manufacturing unit, buy office space, and cover working capital needs.