Cash News
Manba Finance IPO Allotment Today: The IPO worth Rs 150 crore was opened on September 23 and closed on September 25. The IPO was subscribed more than 224 times, receiving bids worth over Rs 23,600 crore. The allotment of shares was finalised on September 26. Here’s how you can check the shares allotment status:
Step 1
Go to the website of the registrar of the issue. In Manba Finance’s IPO, Link Intime India worked as the registrar. Investors can check other IPO status as well over there.
Step 2
Click on the public issue section on the left side of the webpage. After that, a new tab will open which will ask you to fill in details.
Step 3
In that new tab or screen enter details like the company’s name and PAN number/ application number/ client ID/ account number.
Step 4
Hit the submit button
Step 5
A screen will pop up with the status. Investors getting allotments will see a pop-up with allotted status. Meanwhile, investors who didn’t get the allotment of IPO shares will see “not allotted” on the same pop-up screen.
Listing
The company’s shares were trading with a premium of 48% in the grey market, hinting towards a strong debut on the D-Street. The stocks Manba Finance expects to trade in the secondary markets from September 30 onwards.
Manba Finance IPO Details
The price band of the company’s IPO ranged between Rs 114 to Rs 120 per equity share. There were different lot sizes for NIIs and retail bidders. A retailer had to apply for a minimum of one lot while a small NII had to bid for at least 14 lots. Investors who got the mandate from the registrar to block funds and the shares wouldn’t have been allotted will get a refund, which will be initiated on September 26. The shares will credited to the D’Mat accounts of allottes on September 27.
About Manba Finance
Manba Finance, a non-banking finance company, offers financial solutions for new two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, used cars, small business loans, and personal loans. The company’s target customers are mainly employees and the self-employed.
Objective of IPO
According to the draft papers filed with the markets’ watchdog, the raised proceeds will be used to augment the capital base to meet the company’s future capital requirements.