"Considering the subdued ROE profile of the company as well as high post-issue adequacy of 50%, return ratios are expected to remain under pressure in coming years. We have a cautious view on the issue," said Incred Equities.
SBFC Finance refiled its IPO papers with markets regulator Sebi in March this year, reducing the size of the issue to Rs 1,200 crore from Rs 1,600 crore earlier. It received the regulatory nod just a few days earlier.