Manba Finance IPO: Strong Demand and Upcoming Listing

Manba Finance Ltd recently launched its initial public offering (IPO), which attracted a lot of interest from investors. The share allotment for the IPO has been finalized, and applicants are eagerly awaiting the listing date, expected on Monday, September 30.

IPO Subscription Dates

The Manba Finance IPO was open for subscriptions from September 23 to September 25. According to stock market rules, the shares will be listed three days after the allotment, confirming the listing date for September 30.

Grey Market Premium (GMP)

As the listing date approaches, the grey market premium (GMP) for Manba Finance shares is showing positive signs. Today, the GMP stands at Rs. 55 per share, indicating strong demand. This suggests that the estimated listing price for Manba Finance shares could be around Rs. 175, which is 46% higher than the issue price of Rs.120.

Key Details of the IPO

• Subscription Dates: September 23 - September 25
• Allotment Date: September 26
• Listing Date: September 30
• Price Band: Rs.114 to Rs.120 per share
• Total Funds Raised: Rs.150.84 crore through a fresh issue of 1.26 crore shares
• Use of Proceeds: To strengthen the company’s capital base for future needs

Subscription Rates

The Manba Finance IPO saw high demand, with total subscriptions reaching 224.10 times. Specifically, it was subscribed 144.03 times by retail investors and 148.55 times by qualified institutional buyers (QIBs). The non-institutional investors portion was oversubscribed by 511.65 times, according to NSE data.

Management and Registrar

Hem Securities is the lead manager for the Manba Finance IPO, while Link Intime India Private Ltd is responsible for managing the IPO registrations.

Also read: Swiggy Gears Up for IPO with High-Profile Investments

As the listing date nears, investors are keenly watching market trends and the potential performance of Manba Finance shares.