Sotefin Bharat IPO day 1: GMP hints at modest listing gains; 10 key points of BSE SME IPO

Sotefin Bharat opened its SME IPO on BSE for public subscription on 16 July, comprising an entirely fresh issue of 48 lakh shares to raise about Rs 90 crore. The company had earlier raised Rs 25.58 crore from anchor investors by allocating around 13.68 lakh shares at Rs 187 per share. By midday on day 1, the issue was subscribed only 0.11 times overall, with retail portion at 0.18 times and NII portion at 0.11 times, while grey market premium of Rs 27 hinted at a modest listing gain of around 14%.