<ul><li>SBFC Finance is expected to announce its share allotment status on August 10.</li><li>The shares of SBFC Finance were subscribed by 70.16 times overall.</li><li>The shares are expected to be listed on the stock exchanges on August 16.</li></ul> Mumbai-based SBFC Finance, a non-deposit-taking non-banking finance company (NBFC), is expected to announce the allotment status of its initial public offering (IPO) today, that is August 10. The <keyword id="16911177" type="General" weightage="20" keywordseo="sbfc-finance-ipo" source="Orion">SBFC Finance IPO</keyword> opened on August 3 and closed on August 7. The price band for the IPO was ₹54 to ₹57 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On its last day, the SBFC Finance IPO was subscribed 70.16 times, receiving bids for 936.76 crore equity shares against 13.35 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 192.90 times, the non-institutional investors portion was subscribed 49.09 times. The retail portion also witnessed good participation and was subscribed 10.99 times. The employee portion was subscribed 5.87 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of SBFC Finance are currently commanding a grey market premium (GMP) of ₹40 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="18245331" type="General" weightage="100" keywordseo="sbfc-finance-ipo-allotment" source="Orion">SBFC Finance IPO allotment</keyword> status, visit the registrar’s website<a href="https://kosmic.kfintech.com/ipostatus/"> here</a>.</li><li>Click on ‘Company Selection’ and then select ‘SBFC Finance’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Click on ‘Search’.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the SBFC Finance IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘SBFC Finance’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="SBFC Finance listing date" comment="subhead" text="SBFC Finance listing date">SBFC Finance listing date</cmsannotation> The shares of SBFC Finance will be listed on the stock exchanges on August 16. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-market-sees-a-declines-in-q2-vivo-in-the-lead/articleshow/102417485.cms">Indian smartphone market sees a declines in Q2; Vivo in the lead</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-recover-in-july-2023/articleshow/102347978.cms">Electric two-wheeler sales recover after spending June in the pitlane</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-slip-5-percent-in-july-companies-build-up-inventory-ahead-of-the-festive-season/articleshow/102494498.cms">As auto sales slip in July, dealers pin hopes on upcoming festive fervour</a>

SBFC Finance IPO – How to check allotment, listing date, GMP and more

SBFC IPO opens – From price band to risk factors, all you need to know

<ul><li>RBI Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> has announced the introduction of <keyword id="18348799" type="General" weightage="20" keywordseo="conversational-payments" source="Orion">conversational payments</keyword> on <keyword id="6358921" type="General" weightage="100" keywordseo="upi" source="Orion">UPI</keyword>.</li><li>Conversational payment involves the use of AI to make payments easier.</li><li>The central bank has also announced offline UPI payments using NFC end an increase in <keyword id="13424650" type="General" weightage="50" keywordseo="upi-lite" source="Orion">UPI Lite</keyword> limit.</li></ul>UPI (Unified Payments Interface) has made payments easier but the endeavour to simplify procedures is an ongoing process. Currently it involves QR code scanning, clicking and entering PIN for each transaction. Now, India's central bank is bringing in AI (artificial intelligence) to make it easier to pay with <keyword id="18349905" type="General" weightage="20" keywordseo="conversational-upi" source="Orion">conversational UPI</keyword>. The Reserve Bank of India (RBI)’s Governor Shaktikanta Das made major announcements related to UPI at the<a href="https://www.businessinsider.in/policy/economy/news/rbi-policy-mpc-holds-fire-and-keeps-repo-rate-unchanged-inflation-forecast-raised/articleshow/102594613.cms"> Monetary Policy Committee</a> (MPC) meeting. The central bank held its third bi-monthly monetary policy meeting for FY24 on Thursday. At the meet, the governor announced the decisions of the committee. <cmsannotation type="cmsannotation" annotationid="UPI gets AI for conversational payments" comment="subhead" text="UPI gets AI for conversational payments">UPI gets AI for conversational payments</cmsannotation> UPI will soon get artificial intelligence (AI) as the central bank looks to make UPI transactions more interesting. Conversational payments will involve the users engaging in conversation with AI-powered systems to make payments. “Conversational payments on UPI will enable users to engage in conversation with AI systems to make payments,” RBI governor Shaktikanta Das said at the meeting. This has been done with an intention of “harnessing new technologies for enhancing the digital payments experience for users”. While it is not exactly clear how conversational payments will work, the central bank will likely push for an AI chatbot like ChatGPT that will make it easier for users to make payments. "This channel will be made available in both smartphones and feature phones-based UPI channels, thereby helping in the deepening of digital penetration in the country," the central bank said. <cmsannotation type="cmsannotation" annotationid="Offline UPI payments using NFC" comment="subhead" text="Offline UPI payments using NFC">Offline UPI payments using NFC</cmsannotation> Das has also announced the introduction of offline UPI payments using near field communication (NFC) technology through UPI Lite. To recall, UPI Lite was introduced in September 2022 and allows users to use on-device wallets to make instant payments without the need of a UPI PIN. The new announcement will make it easier for customers to make payments, as all you will have to do is tap your smartphone on the point-of-sale (PoS) machine to make the payment. “To promote the use of UPI-Lite, it is proposed to facilitate offline transactions using NFC technology. This feature will not only enable retail digital payments in situations where internet or telecom connectivity is weak or not available, it will also ensure speed, with minimal transaction decline,” the MPC statement said. <cmsannotation type="cmsannotation" annotationid="Increase in UPI Lite limit" comment="subhead" text="Increase in UPI Lite limit">Increase in UPI Lite limit</cmsannotation> The central bank has also announced an increase in the limit of UPI Lite transactions from the existing ₹200 per transaction to ₹500 per transaction. However, the bank continues to restrict the overall limit per instrument to ₹2,000. <cmsannotation type="cmsannotation" annotationid="Experts welcome move" comment="subhead" text="Experts welcome move">Experts welcome move</cmsannotation> Experts have welcomed the central bank’s move towards conversational payments and push for offline UPI. “Offline payments in UPI will add to the customer convenience and on the other hand, facilitating conversational payments on UPI through artificial intelligence is a futuristic move and will have a transformative impact on digital payments,” said Aditya Damani, founder &amp; CEO, Credit Fair. “The RBI Governor's announcement today regarding the introduction of conversational payments and offline functionality in UPI Lite marks a pivotal step that is set to reshape India's economic trajectory. These advancements hold the potential to revolutionise the digital payment ecosystem and drive financial inclusion to new heights,” said Rajsri Rengan, India Head of Development, Banking and Payments, at FIS. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sbfc-finance-ipo-how-to-check-allotment-status/articleshow/102564696.cms">SBFC Finance IPO – How to check allotment, listing date, GMP and more</a> <a href="https://www.businessinsider.in/tech/news/hp-omen-17-gaming-laptop-review-price-performance-and-design/articleshow/102570650.cms">HP OMEN 17 review: A powerful but heavy gaming laptop with a large display</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-slip-5-percent-in-july-companies-build-up-inventory-ahead-of-the-festive-season/articleshow/102494498.cms">As auto sales slip in July, dealers pin hopes on upcoming festive fervour</a>

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SBFC Finance IPO – How to check allotment, listing date, GMP and more

Sourabh Jain

SBFC IPO opens – From price band to risk factors, all you need to know

Sourabh Jain

UPI joins the AI bandwagon, offline payments get a push

Sourabh Jain