The IPO of Manba Finance, which took place from September 23 to 25, featured shares priced between Rs 114 and Rs 120 each, with a minimum lot size of 125 shares. The Mumbai-based non-banking finance company (NBFC) raised Rs 150.84 crore through its IPO, which saw an extraordinary response, with overall subscriptions reaching an impressive 224.10 times.” Non-institutional investors showed particular interest, with a subscription rate of 511.65 times. The company is set to finalize share allotments on September 26, with notifications sent to bidders by September 24 or over the weekend.
Manba Finance specializes in financing new and used vehicles, small business loans, and personal loans. Despite positive broker reviews highlighting strong financials and rising loan demand, concerns regarding increasing capital costs and bad loans persist. The shares of Manba Finance are set to debut on the BSE and NSE on September 30, marking an exciting new chapter for the company. Investors can check their allotment status through the BSE website or Link Intime India’s portal.
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