Manba Finance IPO Attracts Robust Investor Response The initial public offering (IPO) of Manba Finance Ltd. has received an overwhelming response from investors on the final day of the bidding process. As of 3.45 pm on Wednesday, August 29, the IPO was subscribed 210.46 times, with investors placing bids for 185 crore equity shares against the 87.99 lakh shares on offer.
Subscription Details Across Investor Categories
Qualified Institutional Bidders (QIBs): 141.53 times
Non-Institutional Investors (NIIs): 502.87 times
Retail Investors: 124.52 times
Strong Grey Market Premium Indicates Positive Sentiment
Despite the volatility in the broader markets, the grey market premium of Manba Finance has remained firm, reflecting the solid investor interest in the IPO. The company’s shares are currently trading at a premium of ₹58 in the unofficial market, suggesting a potential listing gain of around 48% for investors.
IPO Details and Fund Utilization
Price Band: ₹114 to ₹120 per share
IPO Size: ₹150 crore
Fresh Issue: 1.25 crore equity shares
Anchor Investors: ₹45 crore raised from eight institutional investors
Fund Utilization: Augment capital base to meet future capital requirements
About Manba Finance Established in 1998, Manba Finance is a non-banking finance company (NBFC-BL) offering financial solutions for new two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, used cars, small business loans, and personal loans. The company has demonstrated strong financial performance, with a 44% increase in revenue and a 90% rise in profit after tax between FY23 and FY24.
Key Dates and Information
Allotment Date: September 26, 2024 (expected)
Listing Date: September 30, 2024 (tentative)
Stock Exchanges: BSE and NSE
Book Running Lead Manager: Hem Securities Ltd.
Registrar: Link Intime India Private Ltd.
