In today’s briefing:
- SBFC Finance IPO: Forensic Analysis
- Bharat Highways InVIT Pre-IPO Tearsheet
SBFC Finance IPO: Forensic Analysis
- SBFC Finance Limited (SBFC123 IN) plans to come up with INR 16 bn IPO which comprises INR 7.5 bn worth of fresh issue.
- The company is MSME focused NBFC-ND-SI, and has shown attractive growth in AUM, disbursements in the last few years. SBFC also offers loans against gold.
- However, there are a few perils that must not be overlooked, such as lack of provisioning, low NII growth, mixed peer positioning, and few governance setbacks.
Bharat Highways InVIT Pre-IPO Tearsheet
- Bharat Highways InVIT (BHINV IN) is looking to raise about US$242m in its upcoming India IPO. The deal will be run by ICICI Securities, Axis Capital, HDFC Bank and IIFL Securities.
- Bharat Highways InVIT is an infrastructure investment trust established to acquire, manage and invest in a portfolio of infrastructure assets in India.
- The InVIT’s initial asset portfolio will consist of seven road assets, in the states of Punjab, Gujarat, Andhra Pradesh, Maharashtra and Uttar Pradesh with an aggregate length of approximately 497.292km.
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