Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

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Equity Capital Markets

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<li>
<a href="https://www.smartkarma.com/entities/sbfc-finance-limited" target="_blank" data-smartkarma-citation="entities:36713:1" rel="noopener">SBFC Finance Limited (SBFC123 IN)</a> plans to come up with INR 16 bn IPO which comprises INR 7.5 bn worth of fresh issue.</li>
<li>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.</li>
<li>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.</li>
</ul>



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.


India

SBFC Finance is a non-deposit-taking Non-Banking Finance Company (NBFC) in India, primarily focused on providing credit to underserved entrepreneurs, small business owners, and self-employed individuals. The company offers Secured MSME Loans and Loans Against Gold, utilizing a "PhyGital" model that combines digital technology with in-person service. Headquartered in Mumbai, Maharashtra, SBFC Finance was incorporated on January 25, 2008.

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SBFC Finance (SBFC IN)

SBFC Finance IPO: Forensic Analysis

Among the growing loan book, there are a few perils that must not be overlooked, such as lack of provisioning, low NII growth, mixed peer...

Nitin Mangal

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