Sotefin Bharat's Rs 89.76 crore SME IPO opened to a cautious 16% subscription on Day 1, with the GMP suggesting a modest listing premium of around 11.76% over its Rs 187 upper price band.

SBI Funds Management IPO: The issue is attracting positive sentiment in the grey market, where it is commanding a GMP of around 16%, signalling expectations of a strong listing.

Sotefin Bharat plans ₹90 crore IPO on BSE SME, issuing 48 lakh shares priced between ₹178-₹187 each for expansion.

The Rs 25 crore SME public issue witnessed overwhelming demand during its subscription period from July 9 to July 13, with the IPO closing 77.81 times subscribed, reflecting…