MUMBAI, India, Aug. 16, 2023 /PRNewswire/ -- SBFC Finance, the leading pan-India Non-Bank Financial Company (NBFC), today made its debut on India's National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The company's IPO has attracted high demand among investors, with the issue being oversubscribed by 74 times during the pre-listing bidding process. The IPO has raised INR 10,250m which SBFC will use to further grow its loan book.
Unleashing the Potential of India's Entrepreneurs
SBFC Finance was founded to unleash the creative potential of India's entrepreneurs and deliver financial services to meet their needs. From the beginning, SBFC has been focused on the opportunity to serve India's 70 million small business owners, who account for a third of the country's GDP, but who have not been served by India's larger financial institutions.
SBFC now provides financial services across 18 states and union territories, specialising in secured small business loans and loans against gold.
"We are proud to have reached this tremendous milestone for SBFC," said Aseem Dhru, MD and CEO of SBFC Finance. "The IPO begins an important new chapter in our mission to partner with India's entrepreneurs on their journey to prosperity for their businesses and their families. SBFC will continue to reimagine lending, by expanding our network and innovating our products to serve the needs of India's micro, small and medium sized enterprises (MSMEs), which are the engine of the country's economy."
"It has been a remarkable team effort to get SBFC to this moment in our journey while always keeping the customer at the centre of everything we do," said Mahesh Dayani, Chief Business Officer of SBFC Finance. "We remain laser-focused on building a platform that can reach into the heart of India to find customers who deserve an opportunity to thrive as business owners and advance the well-being of their communities."
"In 2017 we set out with a dream ? to build a world class financial institution that would support India's entrepreneurs and businesses with the capital they need to grow. Today is a significant milestone in realising this vision," said Richard Chandler, Chairman of Clermont Group, SBFC's majority shareholder. "As the middle class rises, as the economy becomes increasingly digitalised, and as we enter the 'Indian century', SBFC will continue to evolve to meet the needs of small businesses, who are so vital to the country's economy."
About SBFC Finance
SBFC was founded in 2017 with a desire to help India's entrepreneurs on their journey to prosperity. SBFC specialises in secured MSME loans, loans against gold, affordable home loans and loan management. Since inception, SBFC has grown to 152 branches and more than 3,000 employees across 18 states and union territories. Our passion is understanding our customers' needs and delivering magical products to meet them. For more information, please visit SBFC.com.
SOURCE SBFC Finance
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