Its Last Day of Manba Finance IPO: Did You Subscribe?

The Manba Finance IPO closes today, September 25, 2024. The allotment for the Manba Finance IPO is expected to be finalised on Thursday, September 26, 2024. The Manba Finance IPO will be listed on BSE and NSE, with a tentative listing date of September 30, 2024. Manba Finance IPO is a book-built issue worth ₹150.84 crore. The said issue is entirely a fresh issue of 1.26 crore shares. The price band for Manba Finance IPO has been set at ₹114 to ₹120 per share. The minimum lot size for an application is 125 Shares. The minimum amount of investment required by retail investors is ₹15,000.  Manba Finance IPO raised ₹45.25 crore from anchor investors on the anchor bid date of September 20, 2024.

On September 25, 2024, at 11:45 AM, the Manba Finance IPO subscribed 106.62 times (Day 3). The public issue subscribed 90.41 times in the retail category, 4.43 times in the QIB category, and 280.69 times in the NII category.

The last GMP for the Manba Finance IPO was ₹58 at 10:53 AM. With the price band of 120.00, the estimated listing price is ₹178 (cap price + today’s GMP). The expected percentage gain/loss per share is 48.33%.

Manba Finance Limited, a non-banking finance company (NBFC-BL) founded in 1998, provides financing options for used automobiles, small business loans, personal loans, and now two—and three-wheelers as well as electric two—and three-wheelers (EV2Ws and EV3Ws).

The company’s primary target markets are (i) workers and (ii) independent contractors. The company develops tailored programs and adjusts its services to suit each of these customer categories. Usually, the company will finance up to 85% of the vehicle’s purchase price (on-road price) and ask the buyer to pay the remaining amount. The business serves the nearby rural areas through branches in urban, semi-urban, and metropolitan cities and towns.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.