- By Aditya Pratap Singh
- Mon, 30 Sep 2024 10:44 AM (IST)
- Source:JND
Manba Finance IPO Listing: Manba Finance's shares made a strong debut on the bourse, listing on the NSE at Rs 145, a 20.83 per cent premium over the IPO price of Rs 120. It listed on the BSE at Rs 150, a 25 per cent gain. The initial public offering (IPO) worth Rs 150.84 crore was priced in the range of Rs 114-120 from September 23 to September 25.
The Manba Finance IPO closed with overwhelming demand after a three-day bidding process, with the issue being subscribed 224.05 times. Against the 87.99 lakh shares offered in the IPO, it received bids for 197.14 crore shares.
Manba Finance IPO Subscription
- Retail investor segment: 143.95 times subscription received
- Non-institutional investors (NII) category: 511.62 times
- Qualified Institutional Buyers (QIBs) Quota: 148.55 times
Manba Finance IPO Details
The bidding for Manba Finance's IPO was open between September 23 and September 25. It offered its shares at a fixed price band of Rs 114-120 per share, with a lot size of 125 shares. The firm raised a total of Rs 150.84 crore from the IPO, which includes the sale of up to 1,25,70,000 equity shares.
Manba Finance, founded in 1998, is a non-banking finance company (NBFC) that provides financing solutions for new two-wheelers (2W), three-wheelers (3W), electric two-wheelers (EV2W), electric three-wheelers (EV3W), used cars, small business loans, and personal loans.
