The initial public offering (IPO) of Manba Finance Ltd, a well-known company that provides automobile loans, received a huge response from investors. The bidding process ended, and now investors are eagerly waiting for the IPO allotment to be finalized. It is expected that the allotment of Manba Finance IPO will be announced today, on September 26.
Manba Finance IPO Details
The Manba Finance IPO was open for subscription from September 23 to September 25, 2024. The company is offering shares at a price band of ₹114 to ₹120 per share. The total size of the IPO is ₹150.84 crore, which consists of a fresh issue of 1.26 crore shares.
Before investing in any IPO, it is very important to conduct thorough research on the company. Understand the business model, financial performance, and risks involved. IPO investments can be profitable, but they also carry risks. Review the company’s prospectus carefully, consult financial experts if needed, and make sure the IPO aligns with your financial goals.
how to check the IPO allotment status for Manba Finance online:
Once the IPO allotment is finalized, investors can easily check their allotment status online. Here are the steps:
1. Through BSE Website:
- Visit the BSE website at https://www.bseindia.com/investors/appli_check.aspx.
- Select “Equity” in the Issue Type.
- Select ” Manba Financial Limited “from the list provided in the dropdown menu.
- Enter your Application Number or PAN number.
- Tick the “I am not a robot” box and click on “Search.”
- Your allotment status will be displayed.
2. Through Registrar’s Website (Link Intime):
- Visit the Link Intime website at https://linkintime.co.in/initial_offer/public-issues.html.
- Choose “Manba Finance Limited” from the list provided in the dropdown menu.
- Choose the option to enter your PAN number, Application Number, or DP ID.
- Provide the details as per the option you selected.
- Press “Search” to check your allocation status.
If you are allotted shares, the details will be visible on the screen. If not, the money you invested will be refunded to your bank account.
The grey market premium (GMP) for Manba Finance shares is currently around ₹60 per share. GMP refers to the difference between the grey market trading price and the issue price. This means that Manba Finance shares are trading at a ₹60 premium above the issue price of ₹120 in the grey market. This indicates strong demand and suggests that the shares could list at a higher price on the stock exchange.
Based on the latest GMP, the estimated listing price for Manba Finance shares could be around ₹180, a 50% increase over the issue price.
After the allotment is finalized, the shares will be credited to the successful investors’ demat accounts on September 27, 2024. The refunds for unsuccessful bidders will also be initiated on the same day. The listing date for Manba Finance shares is expected to be September 30, 2024, when the shares will be available for trading on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The Manba Finance IPO has generated significant interest, and the allotment is eagerly awaited by investors. With the GMP showing strong signs, there is a lot of excitement around the potential gains from the listing. However, investors should always research carefully before investing in any IPO. Make informed decisions, and check your allotment status online through the BSE or Link Intime websites.
