Manba Finance IPO 73.19x Subscription Day 2

Manba Finance IPO opened for bidding on September 23, 2024, and will close on September 25, 2024. On the 2nd day, Manba Finance IPO witnessed an increased interest from various investors. Manba Finance’s IPO price band is 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 has appointed Hem Securities Limited as the book-running lead manager, while Link Intime India Private Ltd is the registrar for the issue.

Day Wise Subscription

• On the 1st day of bidding, Manba Finance IPO subscribed 24.12 times. The public issue subscribed 28.32 times in the retail category, 2.36 times in QIB, and 43.34 times in the NII category.
• On the 2nd day, Manba Finance IPO subscribed 73.19 times. The public issue subscribed 70.20 times in the retail category, 4.15 times in QIB, and 172.24 times in the NII category.

Grey Market Premium

At the close of September 24, 2024, Manba Finances’ IPO last GMP stood at ₹50. Considering the price band of ₹120.00, the estimated listing price of Manba Finance IPO stood at ₹170 (cap price + today’s GMP). The expected percentage gain/loss per share is 41.67%.

About Manba Finance Limited

Manba Finance Limited is a non-banking finance company (NBFC-BL) established in 1998. It offers financial solutions for new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), electric three-wheelers (EV3Ws), used cars, small business loans, and personal loans.

The company enjoys a rich presence with branches in urban, semi-urban, and metropolitan cities and towns serving the surrounding rural areas. The company has established relationships with more than 1,100 dealers, including more than 190 EV dealers in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.

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.