SEBI has postponed certain operational aspects of UPI payment supported IPO subscription or application supported by blocked amount (ASBA). IPO subscription through UPI payment has been one of the nov
SoFi Technologies, (
SOFI) - Get Report the consumer-focused financial-services platform, began its first day as a public company Tuesday on a up note.
Shares of the San Francisco company at last check were up 6% to $21.36.
SoFi started trading after Social Finance and Social Capital Hedosophia Holdings, a special purpose acquisition company founded by the venture-capital investor Chamath Palihapitiya, completed their plan last week to take SoFi public.
SoFi said in a statement that it raised about $2.4 billion from the transaction to fuel growth, expand its markets and develop new products.
The company offers consumers tools and advice for borrowing, saving, spending and investing.
Last fiscal, 21 out of 29 IPOs generated positive returns for investors on listing. IPO listing returns of 36% in FY21 were the highest in a decade, fuelled by an average oversubscription rate of 71.3 times of IPO issue size, the central bank said in a study.