Manba Finance, an established NBFC (Non-Banking Financial Company), has launched its highly anticipated Initial Public Offering (IPO) in 2024. With robust demand from investors, Manba Finance IPO saw tremendous oversubscription, particularly from institutional buyers.
This article provides detailed insights into the Manba Finance IPO, including Grey Market Premium (GMP), subscription status, allotment details, and more.
Manba Finance IPO Overview
Manba Finance opened its IPO for public subscription on September 23, 2024, aiming to raise ₹150.84 crore. The company plans to achieve this through a complete sale of 1.26 crore fresh shares. The IPO, which closed on September 25, 2024, witnessed strong interest from institutional and retail investors alike.
A crucial point to note is that only 35% of the issue has been allocated to retail investors, ensuring that larger institutional investors and non-institutional investors (NIIs) play a significant role in the oversubscription numbers.
Manba Finance IPO Subscription Status
As of the IPO closing date, the subscription status was nothing short of remarkable:
- Overall Subscription: 224.73 times
- Retail Investor Portion: 49.56 times
- NII (Non-Institutional Investor) Portion: 189.32 times
- QIB (Qualified Institutional Buyer) Portion: 109.47 times
This overwhelming response demonstrates a high level of investor confidence in the company’s financial performance and future potential. Additionally, the company’s strategic approach to limiting the retail investor portion created a sense of exclusivity, further fueling demand.
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Manba Finance IPO GMP Today
As per market observers:
- Manba Finance IPO GMP (Grey Market Premium) today is ₹152, indicating strong investor optimism ahead of the listing.
GMP reflects the premium at which the IPO shares are trading in the grey market. The substantial GMP highlights positive market sentiment and suggests the potential for significant listing gains.
Important Dates for Manba Finance IPO Investors
| Event | Date |
|---|---|
| IPO Opening Date | September 23, 2024 |
| IPO Closing Date | September 25, 2024 |
| Allotment Finalization | September 26, 2024 |
| Refunds Initiation | September 27, 2024 |
| Credit of Shares to Demat Accounts | September 28, 2024 |
| Expected Listing Date | October 1, 2024 |
Registrar: Link Intime India
Stock Exchanges: BSE and NSE
Manba Finance: Business Overview
Manba Finance is a leading NBFC focused on providing financial services such as vehicle loans, personal loans, and business loans. The company has carved a niche in the vehicle finance segment, primarily offering two-wheeler loans to underserved customers.
Over the years, Manba Finance has built a reputation for its sound financials, customer-centric approach, and growing market share in the NBFC sector. The proceeds from the IPO will be used to strengthen the company’s capital base and support its future growth plans.
Manba Finance IPO Allotment & How to Check Status
Investors who participated in the IPO can check their allotment status on the official website of Link Intime India, the registrar for the issue. To check your allotment status, you will need one of the following:
- PAN Number
- Application Number
- Demat Account Number
Once the allotment is finalized on September 26, 2024, investors will be able to view whether they have been allocated shares.
Key Highlights of Manba Finance IPO
- IPO Size: ₹150.84 crore
- Issue Type: 100% fresh issue
- GMP: ₹152 (as of the latest update)
- Retail Investor Quota: 35% of the issue size
Reasons for Strong Demand in Manba Finance IPO
Several factors contributed to the high demand for the Manba Finance IPO:
- Strong Business Model: Manba Finance’s focus on vehicle financing, particularly in the two-wheeler segment, positions it well in a rapidly growing sector.
- Proven Financial Track Record: The company has consistently demonstrated solid financial performance, which has reassured investors about its future growth potential.
- Investor Confidence: The high subscription rates, especially from institutional buyers, reflect strong market confidence in the company.
- Attractive GMP: The significant Grey Market Premium (GMP) indicates that investors are optimistic about the listing gains, further driving demand for the shares.
How to Apply for IPO Allotment?
Here’s a step-by-step guide for applying and checking the allotment status for Manba Finance IPO:
- Login to your Demat account through your brokerage platform.
- Navigate to the IPO section and select “Manba Finance IPO.”
- Enter the number of shares you want to bid for and your price preference within the price band.
- Submit your application and wait for the allotment announcement.
Once the allotment status is announced, you can visit the Link Intime India website to check your share allocation.
Click here to know more.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered as financial advice. Investors should conduct their own research or consult with a professional advisor before making any investment decisions.