The initial public offering (IPO) of Manba Finance has been met with an enthusiastic response from investors, demonstrating a strong interest in the company’s shares. The IPO began on September 23 and is set to close on September 25, attracting attention from both retail and institutional investors.
Manba Finance is offering its shares within a price range of ₹114 to ₹120 each. The company aims to raise ₹150.84 crore through this IPO, which consists of a fresh sale of 1,25,70,000 equity shares. Investors can bid for a minimum of 125 shares, and additional shares can be purchased in multiples of 125.
On the first day of bidding, the IPO garnered impressive interest, with nearly 24 times the subscription. As of 1 PM on September 24, the subscription reached approximately 46 times the number of shares available, with investors bidding for 40,67,16,875 equity shares compared to the 87,99,000 shares offered. This indicates a robust demand for Manba Finance shares in the market.
The IPO has seen varying levels of interest from different types of investors. The portion reserved for non-institutional investors (NIIs) was subscribed 92.94 times, reflecting a significant demand from this group. Retail investors also showed strong interest, with their share of the IPO being subscribed 50.14 times. However, the allocation for qualified institutional bidders (QIBs) saw bids for 3.06 times their reserved shares, which indicates moderate interest from larger institutional investors.
Established in 1998, Manba Finance is a non-banking financial company (NBFC) located in Mumbai, offering a diverse array of financial services. The company offers financial solutions for new two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, used cars, small business loans, and personal loans. With years of experience in the industry, Manba Finance has built a strong reputation and has shown consistent growth.
As interest in the IPO has grown, so has the grey market premium (GMP) for Manba Finance shares. The GMP, which indicates the expected increase in share price when the stock lists on the exchange, has risen amid positive market sentiment. Currently, the GMP for Manba Finance shares is around ₹64-65, suggesting that investors anticipate a listing gain of approximately 54%.
The strong demand for the Manba Finance IPO reflects positive sentiment among investors. Many believe that the company is well-positioned to benefit from the growing demand for financial services in India. The economic growth in the country has led to increased borrowing and investment, creating more opportunities for companies like Manba Finance.
Before investing in any IPO, it is crucial for investors to conduct thorough research. This includes understanding the company’s business model, financial health, and the overall market conditions. Reviewing the company’s past performance, management team, and growth prospects can help investors make informed decisions. Additionally, assessing the risks associated with the investment is essential to avoid potential losses.
With such a high subscription rate, analysts expect Manba Finance shares to list at a premium on the stock exchanges. However, the actual listing price will depend on various factors, including market conditions and investor confidence on the listing day. The tentative date for the listing of Manba Finance shares is September 30, and many investors are eagerly awaiting this event.
The Manba Finance IPO has generated significant buzz in the market, showcasing strong investor interest and confidence in the company’s future. With a solid track record, experienced management, and an attractive valuation, Manba Finance has become a popular choice for many investors. As the IPO period comes to an end, all eyes will be on the upcoming listing and how the shares perform in the stock market.
