Today marks the opening of the initial public offering (IPO) for Manba Finance Limited. This IPO is an exciting opportunity for investors, aiming to raise ₹150.84 crore. It will be open for bidding from September 23 to September 25, 2024. Here’s a closer look at what this IPO entails and why it’s gaining attention.
Manba Finance is a non-banking financial company (NBFC) that has set a price band for its shares between ₹114 and ₹120 each. This means that investors can choose to buy shares within this range when they place their bids. The IPO consists entirely of fresh shares, which will contribute directly to the company’s balance sheet.
Before the official bidding began, shares of Manba Finance became available for trade in the grey market. Observers report that these shares are being sold at a premium of ₹60, indicating strong demand. The grey market activity is a good sign, suggesting that investors are optimistic about the company’s prospects.
The IPO has already shown significant interest, being booked 4.78 times overall, with the retail portion subscribed 6.80 times. The Non-Institutional Investor (NII) segment also shows strong interest, having been booked 6.42 times. This level of subscription indicates that many investors are eager to be part of this offering.
Key Details of the IPO
- IPO Price Range: The price band for Manba Finance shares is set between ₹114 to ₹120 per equity share.
- IPO Dates: The IPO will be open for bidding from September 23, 2024, to September 25, 2024.
- IPO Size: The total size of this IPO is ₹150.84 crore, all from fresh shares being issued.
- Lot Size: Investors can apply in lots, with each lot consisting of 125 shares. This means that when placing a bid, investors will need to buy at least this number of shares.
- Allotment Date: The allotment of shares is expected to take place on September 26, 2024. Investors will find out if they have been allotted shares on this date.
- Registrar: Link Intime India Private Limited is the official registrar for this IPO, handling all aspects of the share allotment process.
- Listing Date: If all goes well, the shares of Manba Finance are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 30, 2024. This is when investors will finally be able to trade the shares on the stock market.
- Lead Manager: Hem Securities Limited has been appointed as the lead manager for this public offer, overseeing the entire process and ensuring everything runs smoothly.
The Manba Finance IPO presents a noteworthy opportunity for investors looking to enter the stock market. With strong interest already seen in the grey market and high subscription rates, many are hopeful for a successful listing. If you’re considering investing, make sure to review all the details and prepare for the bidding process. The coming days will reveal how this IPO performs and what it means for the future of Manba Finance.
As always, it’s essential to do your own research and consult with a financial advisor if needed before making investment decisions.
