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Manba Finance IPO: The initial public offering (IPO) of Manba Finance Ltd ended with strong demand from investors. Manba Finance IPO allotment has been fixed and now the applicants look ahead to the IPO listing next week. Manba Finance IPO listing date is likely on Monday.
Manba Finance IPO was open for subscription from September 23 to 25. According to the ‘T+3’ listing rule, the Manba Finance IPO listing date is likely to be September 30, i.e. on Monday.
While the Manba Finance IPO share allotment has been finalised, the investors who have received share allotment look out for the Manba Finance IPO listing on Monday.
Ahead of Manba Finance share listing, the Manba Finance IPO GMP today, or grey market premium today, signals a strong debut of shares. Investors watch out for Manba Finance IPO GMP ahead of the listing 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 than its issue price in the grey market.
Considering the Manba Finance IPO GMP today and the issue price, the estimated Manba Finance IPO listing price is ₹175 per share, which is at a premium of 46% to 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 be listed 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 by 224.10 times in total. The public issue was bought 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.