Finbud Financial IPO listing: Shares debut at 10.56% premium over issue price on NSE SME

Finbud Financial IPO made a moderate listing on NSE SME on Thursday, November 13. Finbud Financial share price is listed at a 10.56% premium over the issue price of ₹142 apiece.

Finbud Financial share price opened at ₹157 apiece on NSE, which means that the IPO allottees made a 10.56% gain on the SME IPO listing.

After making its stock market debut, the Finbud Financial stock hit 5 per cent upper circuit at ₹164.85 apiece, hitting an intraday high on Thursday.

Ahead of the listing, the shares of Finbud Financial IPO were trading at a premium of ₹11. This means that the GMP of Finbud Financial IPO was +11 before the listing.

Finbud Financial IPO details

The SME IPO, which opened for subscription on November 6 and closed on November 11, witnessed strong investor interest. The SME IPO was oversubscribed 4.19 times overall, with particularly high demand from Qualified Institutional Buyers (QIBs) at 7.6 times, while retail and non-institutional investors subscribed 2.54 times and 2.42 times, respectively.

The SME IPO is a book-built issue worth ₹71.68 crore, comprising a fresh issue of 0.50 crore equity shares.

The price band has been set between ₹140 and ₹142 per share, with a lot size of 1,000 shares. Retail investors need to invest at least ₹2,84,000 for a minimum of 2,000 shares at the upper end of the price band.

SKI Capital Services Ltd. is the book-running lead manager for the issue, with Skyline Financial Services Pvt. Ltd. serving as the registrar. Additionally, SKI Capital Services Ltd. is functioning as the market maker.

Founded in July 2012, Finbud Financial Services Limited is a loan aggregation platform in India that assists individuals in obtaining personal, business, and home loans from banks and NBFCs.

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