The Manba Finance IPO has drawn significant interest from investors, and the allotment date is expected to be today, September 26, 2024.
Investors who participated in the IPO are now eagerly waiting to check their allotment status. With a strong response across all investor categories, this IPO has been oversubscribed multiple times, making it one of the most anticipated listings of 2024.
Manba Finance IPO has seen a total subscription of 224.10 times, with particularly strong demand from retail and institutional investors.
As investors await the allotment results, the grey market premium (GMP) also provides valuable insights into how the stock may perform once it lists.
How to Check Manba Finance IPO Allotment Status
Investors can easily check the Manba Finance IPO allotment status online through either the BSE website or the official portal of the IPO registrar, Link Intime India.
Steps to Check Allotment Status on BSE Website:
- Visit the official BSE website (bseindia.com).
- Click on the Equity section under the IPO tab.
- Select Manba Finance IPO from the dropdown menu.
- Enter your application number and PAN.
- Click on Search to view your allotment status.
Steps to Check Allotment on Link Intime India:
- Go to the Link Intime India portal.
- Select Manba Finance IPO from the list of IPOs.
- Enter your PAN number, application number, or DP/Client ID.
- Submit the details to view your allotment status.
Manba Finance IPO Subscription Details
The Manba Finance IPO received overwhelming support from all categories of investors. Here’s a detailed breakdown:
- Total Subscription: 224.10 times
- Retail Category: 144.03 times
- Qualified Institutional Buyers (QIB): 148.55 times
- Non-Institutional Investors (NII): 511.65 times
The public issue raised ₹150.84 crore, with a price band of ₹114 to ₹120 per share.
Grey Market Premium (GMP) Trends
The Grey Market Premium (GMP) for Manba Finance IPO has remained steady around ₹35 to ₹40. This indicates strong market interest in the stock, suggesting it could list at a premium when it debuts on the stock exchanges.
While GMP is an unofficial indicator, it reflects market sentiment ahead of the official listing.
Key Dates for Manba Finance IPO
- Allotment Date: September 26, 2024
- Credit of Shares: September 27, 2024
- Refund Initiation: September 27, 2024 for unsuccessful bidders
- Listing Date: September 30, 2024
Investors can expect the shares to be credited to their demat accounts by September 27, and the IPO is scheduled to list on both BSE and NSE on September 30.
Manba Finance IPO Key Details
- Price Band: ₹114 to ₹120 per share
- Issue Size: The company raised ₹150.84 crore through a fresh issue of 1.26 crore shares.
- Objective: The proceeds from the IPO will be used to augment the capital base of Manba Finance to meet its future capital requirements.
What to Expect on the Listing Day
With the IPO being subscribed 224 times and a positive GMP, the listing of Manba Finance IPO is expected to deliver healthy returns for investors.
Analysts suggest that the listing day on September 30 could see strong gains, especially for those who were allotted shares.
However, it’s essential to keep in mind that market conditions could change, and the actual listing price may vary. Investors should approach the listing day with a strategy in place, whether to hold for long-term gains or to book profits based on early momentum.
Company Overview
Manba Finance is a leading non-banking financial company (NBFC) that specializes in providing automobile loans. With a strong foothold in the auto financing sector, the company has positioned itself as a trusted name for two-wheeler and three-wheeler financing.
The funds raised through the IPO will help the company strengthen its capital base and expand its operations, especially in underpenetrated markets.
Conclusion
The Manba Finance IPO allotment is likely to be finalized today, and with a strong grey market premium, investors are hopeful for a positive listing.
The company’s robust business model and strong market demand have made this IPO a standout in 2024. Make sure to check your allotment status and be ready for the listing on September 30.
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Disclaimer
This article is intended for informational purposes only and should not be considered financial advice. Readers should conduct their own research or consult a financial advisor before making any investment decisions.