Manba Finance IPO: The share allotment of Manba Finance’s initial public offer (IPO) has been fixed, and now the applicants look ahead to the listing next week. Manba Finance IPO had garnered a strong response from investors.
The public offer was open for subscription from September 23 to 25.
With the Manba Finance IPO share allotment having been finalised, the investors who have received the share allotment are keenly eyeing its stock market debut amid expectations of a strong listing. According to the ‘T+3’ listing rule, the Manba Finance IPO listing date is likely to be September 30, i.e. on Monday.
Ahead of the listing, Manba Finance IPO GMP today, or grey market premium today, signals a strong debut. Investors are tracking Manba Finance IPO GMP to gauge the estimated Manba Finance share listing price.
Here’s what Manba Finance IPO GMP suggests about the estimated listing price:
Manba Finance IPO GMP Today
Manba Finance shares are trading with a decent premium in the unlisted market as sentiment remains bullish for the mainboard IPO. According to stock market experts, Manba Finance IPO GMP today is ₹55 per share. This shows that the equity shares of Manba Finance are trading higher by ₹55 apiece over its issue price in the grey market.
Considering this, the estimated Manba Finance IPO listing price is likely to be ₹175 per share, suggesting a premium of 46% over the IPO price of ₹120 per share.
Manba Finance IPO Details
Manba Finance IPO opened for public subscription on Monday, September 23, and concluded on Wednesday, September 25. Manba Finance IPO allotment date was September 26 and the IPO listing date is September 30. The equity shares of Manba Finance are set to list on both the stock exchanges, BSE and NSE.
Manba Finance IPO price band was ₹114 to ₹120 per share. At the upper-end of the price band, the company raised ₹150.84 crore from the book-built issue which comprised entirely a fresh issue of 1.26 crore shares.
The automobile loan company proposes to utilise the net issue proceeds towards augmenting the capital base to meet the company’s future capital requirements.
Manba Finance IPO was subscribed 224.10 times in total. The public issue was subscribed 144.03 times in the retail category and 148.55 times in the Qualified Institutional Buyers (QIB) category. The Non-Institutional Investors (NII) portion was booked 511.65 times, according to NSE data.
Hem Securities is the book-running lead manager of the Manba Finance IPO, while Link Intime India Private Ltd is the IPO registrar.
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