New Delhi, July 16 -- The initial public offering (IPO) of Sotefin Bharat opened for public subscription on Thursday, 16 July. The SME IPO is entirely a fresh issue of 48 lakh shares, aimed at raising about Rs.90 crore.

The BSE SME IPO is witnessing tepid buying interest, while grey-market trends indicate the stock could list at a modest premium to the issue price.

Meanwhile, ahead of the share sale, the company raised Rs.25.58 crore by allocating 13,68,000 shares to anchor investors at a price of Rs.187 per share.

As per grey market sources, Sotefin Bharat IPO GMP on Thursday morning was Rs.27. This indicated the stock could list at Rs.214 on the BSE SME, a premium of over 14% over the issue price of Rs.187.

By 12:30 PM on Thursday, ...