The Manba Finance Limited initial public offering (IPO) has garnered strong interest from investors, with the issue being subscribed 73.23 times as of September 24, the second day of bidding. Investors bought 64.43 crore equity shares against the offer size of 87.99 lakh shares, showing significant demand for the IPO.
The non-banking finance company (NBFC), which primarily offers loans for two-and three-wheelers, aims to raise ₹151 crore through this IPO. The entire amount is being raised via a fresh issue of 1.25 crore equity shares at a price range of ₹114-120 per share.
Subscription Breakdown
- Non-institutional investors led the charge, subscribing 172.26 times their allotted quota.
- Retail individual investors followed, subscribing 70.26 times their reserved portion.
- Qualified institutional buyers (QIBs) also showed interest, with the issue being subscribed 4.15 times in their category.
Manba Finance has already raised ₹45.25 crore from anchor investors, including Chartered Finance & Leasing, Antara India Evergreen Fund, and others.
The IPO proceeds will primarily be used to augment the company’s capital base, helping it meet future capital requirements as it continues to expand across key markets in Maharashtra, Gujarat, Rajasthan, and other states.
The company is expected to list at a premium of around 50% in the grey market, reflecting strong investor confidence.
Here is the complete data of Manba Finance IPO (BSE) –
| MANBA FINANCE LIMITED
Last updated on
24 Sep 2024 | 05:00:00 PM |
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| Sr.No. | Category | No.of shares offered / reserved | No. of shares bid for | No. of times of total meant for the category |
| 1 | Qualified Institutional Buyers (QIBs) | 25,14,000 | 1,04,33,125 | 4.15 |
| 1(a) | Foreign Institutional Investors (FIIs) | – | 15,77,625 | – |
| 1(b) | Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | – | 33,000 | – |
| 1(c) | Mutual Funds | – | – | – |
| 1(D) | Others | – | 88,22,500 | – |
| 2 | Non Institutional Investors(NIIS) | 18,85,500 | 32,47,98,500 | 172.26 |
| 2.1 | Non Institutional Investors(Bid amount of more than Ten Lakh Rupees) | 12,57,000 | 20,97,35,000 | 166.85 |
| 2.1(a) | Corporates | – | 17,49,375 | – |
| 2.1(b) | Individuals (Other than RIIs) | – | 18,85,55,875 | – |
| 2.1(c) | Others | – | 1,94,29,750 | – |
| 2.2 | Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees) | 6,28,500 | 11,50,63,500 | 183.08 |
| 2.2(a) | Corporates | – | 2,43,500 | – |
| 2.2(b) | Individuals (Other than RIIs) | – | 10,43,89,500 | – |
| 2.2(c) | Others | – | 1,04,30,500 | – |
| 3 | Retail Individual Investors (RIIs) | 43,99,500 | 30,91,14,875 | 70.26 |
| 3(a) | Cut Off | – | 27,04,95,500 | – |
| 3(b) | Price Bids | – | 3,86,19,375 | – |
| 4 | Employee Reserved | – | – | – |
| 4(a) | Employee (Cut off) | – | – | – |
| 4(b) | Employee (Price) | – | – | – |
| 5 | Reservation PortionShareholder | – | – | – |
| 5(a) | RPS (Cut off) | – | – | – |
| 5(b) | RPS (Price) | – | – | – |
| Total | 87,99,000 | 64,43,46,500 | 73.23 | |
