Manba Finance IPO GMP 2024 Highlights: The IPO opened on September 23 for Rs 150.84 crore and was closed on September 25. The allotment of shares was finalised on September 26 after which the refund was initiated. The book-built issue sold 1.26 crore fresh shares. The IPO price band ranged between Rs 114 -120 per equity share. The listing on NSE and BSE will likely be on September 30. Hem Securities handled the book and Link Intime India worked as the registrar for the issue.
Catch all updates around Manba Finance on Financial Express.
According to the Manba Finance IPO RHP filed with SEBI, the company's business and future prospects could get adversely affected if they fail to maintain relationships with dealers from whom they derive significant part of New Vehicle Loans business.
Moreover, new vehicle loans constitute 97.90% of its AUM. The lack of diversity in its loan products may affect growth, prospects and financial condition.
The Manba Finance IPO had a price band of Rs 114 -120 per share. Retail investors had to file applications for a minimum amount of Rs 15,000 as the minimum lot size is 125 shares.
The promoters of Manba Finance include Manba Investments and Securities , Avalon Advisory and Consultant Services , Manba Fincorp, Manba Infotech and Manish Kiritkumar Shah (HUF). The promoter shareholding post the issue would be a tad less than 75% at 74.98%
The IPO of Manba Finance was open for bidding from September 23 to September 25, offering shares in a fixed price band of Rs 114-120 per share with a lot size of 125 shares. The company successfully raised Rs 150.84 crore through the IPO, which included a fresh issuance of up to 1,25,70,000 equity shares.
KRN Heat Exchanger IPO closes today, September 27. The IPO was opened on September 25 to raise Rs 341.95 crore by selling 1.55 crore fresh shares. The allotment for the KRN Heat Exchanger IPO will be finalised on September 30.
The company's net profit has increased to Rs 31.42 crore in FY24 from Rs 16.58 crore it reported in the previous financial year. Its total net worth grew to Rs 200 crore in FY24.
On September 26, the registrar finalised the allotment of shares. The allottees will get the share credited to their D'Mat accounts on September 27, the rest who got mandate but not allotment will get a refund. The refund was initiated on September 26.