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Manba Finance IPO: Record Oversubscription and Strong Listing Expectations

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On September 27, 2024, Manba Finance's IPO has gained significant attention, with the allotment of shares finalized and all eyes on its upcoming listing. The IPO, which ran from September 23 to 25, 2024, was offered at a price band of ₹114 to ₹120 per share. The response was overwhelming, with the IPO being oversubscribed by 224.10 times, especially among non-institutional investors, whose portion was subscribed 511.65 times. Retail investors also showed strong interest, with their portion subscribed 144.03 times. The Grey Market Premium (GMP) for Manba Finance is indicating a promising debut. As of September 27, the GMP stood at ₹55-₹56 per share, suggesting a potential listing price of around ₹175-₹176 per share, reflecting a 46% premium over the issue price. The company, a leading non-banking financial corporation (NBFC) focusing on vehicle loans, raised approximately ₹150.84 crore through its IPO, and its shares are expected to be listed on both the BSE and NSE on September 30, 2024. This strong market reception highlights investor confidence in Manba Finance's growth, especially in the vehicle loan segment, which includes two-wheelers, three-wheelers, electric vehicles, and personal loans

On September 27, 2024, Manba Finance's IPO has gained significant attention, with the allotment of shares finalized and all eyes on its upcoming listing. The IPO, which ran from September 23 to 25, 2024, was offered at a price band of ₹114 to ₹120 per share. The response was overwhelming, with the IPO being oversubscribed by 224.10 times, especially among non-institutional investors, whose portion was subscribed 511.65 times. Retail investors also showed strong interest, with their portion subscribed 144.03 times.

The Grey Market Premium (GMP) for Manba Finance is indicating a promising debut. As of September 27, the GMP stood at ₹55-₹56 per share, suggesting a potential listing price of around ₹175-₹176 per share, reflecting a 46% premium over the issue price.

The company, a leading non-banking financial corporation (NBFC) focusing on vehicle loans, raised approximately ₹150.84 crore through its IPO, and its shares are expected to be listed on both the BSE and NSE on September 30, 2024.

This strong market reception highlights investor confidence in Manba Finance's growth, especially in the vehicle loan segment, which includes two-wheelers, three-wheelers, electric vehicles, and personal loans.

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