Manba Finance IPO | Business Upturn

Manba Finance IPO subscribed 185 times amid strong investor demand

Aditya Bhagchandani — Wed, 25 Sep 2024 09:35:02 +0000

Manba Finance, a non-banking financial company (NBFC), saw overwhelming investor interest as its IPO was subscribed 185 times. The issue, which opened on September 23, aims to raise ₹150.84 crore through the sale of 1.26 crore fresh shares. The IPO is set to close on September 25, with the share allotment likely to be finalized on September 26.

According to stock market observers, Manba Finance shares are commanding a significant premium in the grey market, with a GMP of ₹65 per share. This represents a 54% increase over the issue price of ₹120, indicating strong demand for the shares ahead of the listing. The refund and credit of shares are expected to follow shortly after the allotment.

Qualified Institutional Buyers – 88.38 times

Non Institutional Investors(NIIS) – 471.09 times

Retail Individual Investors (RIIs) – 118.81 times

Here is the complete data (credits: BSE) –

MANBA FINANCE LIMITED Last updated on 25 Sep 2024 \| 02:57:00 PM
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	22,21,80,875	88.38
1(a)	Foreign Institutional Investors (FIIs)	–	6,58,17,500	–
1(b)	Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)	–	4,07,12,625	–
1(c)	Mutual Funds	–	10,125	–
1(D)	Others	–	11,56,40,625	–
2	Non Institutional Investors(NIIS)	18,85,500	88,82,31,750	471.09
2.1	Non Institutional Investors(Bid amount of more than Ten Lakh Rupees)	12,57,000	64,10,97,000	510.02
2.1(a)	Corporates	–	1,06,78,375	–
2.1(b)	Individuals (Other than RIIs)	–	57,72,24,625	–
2.1(c)	Others	–	5,31,94,000	–
2.2	Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees)	6,28,500	24,71,34,750	393.21
2.2(a)	Corporates	–	6,00,875	–
2.2(b)	Individuals (Other than RIIs)	–	22,44,37,500	–
2.2(c)	Others	–	2,20,96,375	–
3	Retail Individual Investors (RIIs)	43,99,500	52,26,83,375	118.81
3(a)	Cut Off	–	44,59,11,500	–
3(b)	Price Bids	–	7,67,71,875	–
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	1,63,30,96,000	185.6

Manba Finance IPO subscribed over 73 times till day 2

Aditya Bhagchandani — Tue, 24 Sep 2024 12:06:35 +0000

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
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

Manba Finance’s Rs 150 crore IPO subscribed over 23 times on day 1

Aditya Bhagchandani — Mon, 23 Sep 2024 12:03:44 +0000

Manba Finance Ltd.’s initial public offering (IPO) has seen robust demand, with the offering being subscribed 23.79 times as of 17:25 p.m. on Monday. Non-institutional investors (NIIs) led the charge, with their portion being oversubscribed 43.18 times, followed by retail investors, whose portion was subscribed 27.71 times. The Qualified Institutional Buyers (QIB) portion saw a subscription of 2.36 times.

The company aims to raise up to ₹150.84 crore through this IPO, which is an entirely new issue of 1.26 crore shares. The price band for the IPO is set between ₹114 and ₹120 per equity share, with a face value of ₹10 per share. There is no offer for sale component in this IPO.

The minimum application lot size is 125 shares. Prior to the IPO, Manba Finance raised ₹45.25 crore by allotting 37.7 lakh shares at ₹120 each to eight anchor investors.

As of BSE Data –

MANBA FINANCE LIMITED Last updated on 23 Sep 2024 \| 05:00:00 PM
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	59,35,750	2.36
1(a)	Foreign Institutional Investors (FIIs)	–	4,32,000	–
1(b)	Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)	–	15,375	–
1(c)	Mutual Funds	–	–	–
1(D)	Others	–	54,88,375	–
2	Non Institutional Investors(NIIS)	18,85,500	8,14,23,625	43.18
2.1	Non Institutional Investors(Bid amount of more than Ten Lakh Rupees)	12,57,000	4,71,63,875	37.52
2.1(a)	Corporates	–	3,97,375	–
2.1(b)	Individuals (Other than RIIs)	–	4,25,94,125	–
2.1(c)	Others	–	41,72,375	–
2.2	Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees)	6,28,500	3,42,59,750	54.51
2.2(a)	Corporates	–	75,625	–
2.2(b)	Individuals (Other than RIIs)	–	3,18,93,875	–
2.2(c)	Others	–	22,90,250	–
3	Retail Individual Investors (RIIs)	43,99,500	12,19,29,625	27.71
3(a)	Cut Off	–	11,28,72,125	–
3(b)	Price Bids	–	90,57,500	–
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	20,92,89,000	23.79

Manba Finance’s IPO set to open on September 23, 2024, price band at ₹114-₹120 per share

Aditya Bhagchandani — Wed, 18 Sep 2024 05:02:48 +0000

Manba Finance Limited, a Mumbai-based non-banking financial company (NBFC), is set to launch its Initial Public Offering (IPO) on Monday, September 23, 2024. The price band for the IPO has been set between ₹114 and ₹120 per equity share, with the offering closing on Wednesday, September 25, 2024. Investors can bid for a minimum of 125 shares and in multiples thereafter.

The IPO is entirely a fresh issue of up to 1.25 crore equity shares, with no offer for sale component. The proceeds from the IPO will be used to strengthen the company’s capital base and support future growth.

Manba Finance, founded in 1998, offers a variety of financial products, including loans for new and electric two-wheelers, three-wheelers, used cars, small businesses, and personal loans. The company operates across six states and has 66 locations, servicing both urban and rural areas.

As of FY24, Manba Finance had assets under management (AUM) of ₹936.85 crore, a 37.46% CAGR growth since FY22. The company posted a profit of ₹31.41 crore in FY24, marking an 89.50% increase compared to the previous year.

Hem Securities Limited is the lead manager for the issue, and Link Intime India Private Limited is the registrar.