Manba Finance Share Price, New Delhi, September 30, 2024 – The much-anticipated debut of Manba Finance shares attracted significant attention from investors. Before its listing, the company’s shares were commanding a Grey Market Premium (GMP) of ₹38-40 per share, indicating a potential listing gain of up to 35%. However, the actual listing fell slightly below those expectations.
IPO Details
The Manba Finance IPO was open for subscription from September 23 to 25, 2024. The company offered its shares in a fixed price band of ₹114-₹120 per share. Investors could bid for shares in a lot size of 125 shares, making it accessible to retail investors as well.
Through this IPO, the company raised ₹150.84 crore, which was entirely through the fresh issue of 1,25,70,000 equity shares.
| IPO Details | Information |
|---|---|
| IPO Date | September 23-25, 2024 |
| Price Band | ₹114-₹120 per share |
| Lot Size | 125 shares |
| Amount Raised | ₹150.84 crore |
| Total Shares Offered | 1,25,70,000 equity shares |
Listing Day Performance
Manba Finance made its debut on Monday in the stock market. On the BSE, the stock was listed at ₹150 per share, which is a 25% premium over the issue price of ₹120. Similarly, the stock opened on the NSE at ₹145, reflecting a 20.83% premium over the issue price.
Despite strong expectations, the listing price was lower than the projected GMP, which indicated a potential listing gain of 35%. However, the stock managed to open at a premium of ₹25-30 per share.
Subscription Details
Manba Finance’s IPO witnessed overwhelming participation from investors. The overall issue was subscribed a massive 224.10 times. The non-institutional investors’ (NII) category was subscribed an impressive 511.65 times, while the qualified institutional buyers’ (QIB) portion was booked 148.55 times. Retail investors also showed strong interest, with the retail portion being subscribed 144.03 times.
| Investor Category | Subscription |
|---|---|
| Total Subscription | 224.10 times |
| Non-Institutional Investors (NII) | 511.65 times |
| Qualified Institutional Buyers (QIB) | 148.55 times |
| Retail Investors | 144.03 times |
About Manba Finance
Founded in 1998, Manba Finance is a non-banking financial company (NBFC) providing various financial solutions. The company offers loans for new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), electric three-wheelers (EV3Ws), used cars, small business loans, and personal loans.
Market Experts’ Take
Market experts and brokerage firms held a largely positive outlook on the Manba Finance IPO. Hem Securities was the sole book-running lead manager for the IPO, while Link Intime India acted as the registrar. Analysts viewed it as a strong listing opportunity, although the actual listing premium was slightly lower than expected.
Is It the Right Time to Invest?
Despite listing slightly below GMP expectations, Manba Finance still presents an attractive opportunity for long-term investors. With its strong IPO subscription and diverse financial product portfolio, the company’s stock may prove beneficial for those with a longer investment horizon.
