IBL Finance IPO Attracts Investors with 6.02x Oversubscription

IBL Finance Limited’s Initial Public Offering (IPO), open for subscription until January 11, has garnered a positive response from investors.

By 11:23 am on the second day of bidding, the SME IPO has been oversubscribed 6.02 times, receiving bids for 3,54,40,000 shares against the 58,90,000 shares on offer, reported media houses.

Priced at Rs 51 per share, the IPO is set for allotment on January 12, with shares expected to be listed on NSE SME by January 16. IBL Finance, a fintech-based financial services platform established in August 2017, facilitates quick and easy lending through its mobile app, offering instant personal loans up to Rs 50,000 with a fully digital process.

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