Manba Finance IPO GMP 2024 Highlights: Manba Finance, an NBFC, opened its issue for investors to bid on September 23 to collect a sum of Rs 150.84 crore. The issue is entirely a sale of 1.26 crore fresh shares. The IPO will close on September 25. The allotment of shares will be finalised on September 26. Investors who got the mandate for the fund blockage can check the allotment status on the website of Link Intime India, followed by the initiation of refund and credit of shares.
Catch all the live updates regarding the IPO of Manba Finance on the live blog of Financial Express.com.
A retail investor must place a bid for at least one lot, equating to 125 shares, which amounts to Rs 15,000. For small and big Non-Institutional Investors (NIIs), the lot sizes vary, ranging from Rs 2,10,000 to Rs 10,05,000.
If you did not receive the allotment for Manba Finance, your refund will be processed on September 26. The funds that were blocked due to the mandate will be released by the company’s registrar.
Several firms, including BP Equities (BP Wealth), Canara Bank Securities Ltd, Ventura Securities Limited, Arihant Capital Markets Ltd, Dilip Davda, Indsec Securities, Nirmal Bang, Marwadi Shares and Finance Ltd, and Stoxbox by BP Equities Pvt Ltd, have issued an “Apply” recommendation for the Manba Finance IPO. Swastika Investmart Ltd suggests a “May Apply,” while Capital Market holds a “Neutral” position. In contrast, Axis Capital and JM Financial Institutional Securities have chosen not to rate the IPO.
Manba Finance Limited targets two primary customer segments: (i) employees and (ii) self-employed individuals. The company designs its financial products to meet the unique needs of each group, creating tailored programs that cater to their specific requirements. Typically, Manba Finance offers financing for up to 85% of a vehicle’s on-road purchase price, with customers responsible for covering the remaining amount.
A retail investor must place a bid for at least one lot, which consists of 125 shares, totaling approximately Rs 15,000. For small and large Non-Institutional Investors (NIIs), the lot sizes vary significantly, ranging from Rs 2,10,000 to Rs 10,05,000.
The initial public offering (IPO) of KRN Heat Exchanger and Refrigeration commenced subscription today, September 25, and will remain open until September 27. On its opening day, the issue was oversubscribed by 7.54 times. Before the IPO, the company secured Rs 100 crore from anchor investors, which included notable names such as WhiteOak Mutual Fund, Bandhan Mutual Fund, Saint Capital Fund, Ashoka India Equity Investment Trust Plc, and Holani Venture Capital Fund.
The IPO saw an overwhelming response, being oversubscribed by 74 times the available shares, with the retail segment alone being subscribed 71 times as of September 24.
The company’s shares were trading at a 48% premium in the grey market, an unofficial platform where shares are exchanged illegally before being listed.
1. Visit the website of the registrar responsible for the issue. For Manba Finance’s IPO, Link Intime India is the registrar.
2. On the homepage, navigate to the “Public Issues” section, typically located on the left side of the page.
3. In the new window or tab that opens, enter the required details such as the company’s name and either your PAN number, application number, client ID, or account number.
4. Click on the “Submit” button.
5. The allotment status will appear on the screen.
– If shares have been allotted, the status will display “Allotted.”
– If no shares were allotted, the status will indicate “Not Allotted.”
The basis of allotment for the Manba Finance IPO is anticipated to be finalized today, following the closure of the public issue for subscription yesterday. The IPO witnessed an overwhelming response from investors, with a staggering 1,97,18,34,875 shares bid for, compared to the 87,99,000 shares offered, resulting in an impressive oversubscription rate of 224.10 times by the end of the subscription period on September 25, 2024
Demand Breakdown
– Non-Institutional Investors (NIIs): Led the charge with a phenomenal demand, bidding 511.65 times the shares available.
– Qualified Institutional Buyers (QIBs): Showed strong interest as well, with bids amounting to 148.55 times.
– Retail Individual Investors (RIIs): Contributed significantly, bidding 144.03 times the shares on offer.
Manba Finance Limited focuses on two main customer segments: (i) employees and (ii) self-employed individuals. The company tailors its financial offerings to each group, developing customized programs to address their specific requirements. Generally, Manba Finance provides financing for up to 85% of a vehicle’s on-road purchase price, with customers expected to cover the remaining balance.
The Manba Finance IPO has seen strong response. The issue has been subscribed 129.85 times in the retail category, 148.55 times in QIB, and 506.12 times in the NII category. This is as per the updated data available at 5:00 pm on September 25.
The company’s IPO opened to investors on September 25. It closes on September 27. The allotment of shares was finalised on September 26 and the listing pending to be on NSE and BSE on October 03. The IPO was subscribed fully on the very first day of its launch. KRN Heat Exchanger IPO was subscribed 26.11 times more than the offered shares, receiving bids worth Rs 10,300 crore for an IPO of Rs 341.95 crore.
“Diffusion Engineers plans to take advantage of the growth-fueled environment by focusing on a strategic expansion into nickel, cobalt, and iron-based powder manufacturing for an enhanced welding consumables portfolio. The company also intends to expand its geographical reach and increase its exports through its subsidiaries and joint ventures. Further, the company is focusing on diversifying its Anti Wear Solutions and Heavy Engineering Equipment business into new industries and providing customized solutions for the same across various industries. Investors looking to invest can invest in the IPO for the medium to long term,” said Master Capital Service in an IPO note.
Go to the website of the registrar of the issue. In Manba Finance’s IPO, Link Intime India worked as the registrar. Click on the public issue section on the left side of the webpage. In that new tab or screen enter details like the company’s name and PAN number/ application number/ client ID/ account number. Hit the submit button. A screen will pop up with the status. Investors getting allotments will see a pop-up with allotted status. Meanwhile, investors who didn’t get the allotment of IPO shares will see “not allotted” on the same pop-up screen.
Today marks the final day to bid for the Manba Finance IPO, which has seen overwhelming demand. The issue has been subscribed 102.64 times over the offered shares. The retail segment was subscribed 87.56 times, while the non-institutional investor (NII) portion saw a massive 269 times subscription.
The company’s IPO got bids worth Rs 23,656.86 crore while it wanted to raise Rs 150.84 crore, which is like 157 times more. This shows that investors are too keen on the allotment of Manba Finance.
The stock of Manba Finance is fetching a premium of more than 48% in the grey market. The GMP indicates that people are willing to buy the stock at a premium through unregulated means.
If you haven’t got the allotment of Manba Finance. Then the refund will be initiated on September 26. The blocked funds because mandate will be cancelled by the company’s registrar.
Manba Finance Limited IPO Allotment Chances
Retail: 1 out of 116
SHNI: 1 out of 419
BHNI: 1 out of 107
Retail Applications : 41 L Approx
SHNI Applications : 1.5 L Approx
BHNI Applications : 77 K Approx
The allotment of shares will be finalised today by the issue registrar. Link Intime India is working as the registrar for the issue. Investors who got a mandate for the IPO can check the allotment status on the website of Link Intime India.
Manba Finance IPO 2024 Live Updates: All focus on KRN Heat and Diffusion Engineers
As the IPO of Manba Finance closes, all the attention is now shifted towards Diffusion Engineers and KRN Heat Exchanger which are open to investors for bidding.
The company is a non-banking financial institution that provides a range of financial solutions, including 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. Manba Finance primarily targets employees and self-employed individuals, tailoring its products to suit the specific needs of each customer segment by offering customized financial programs.
A retail investor must place a bid for at least one lot, consisting of 125 shares, amounting to Rs 15,000. For small and large non-institutional investors (NIIs), the lot sizes vary, with investments ranging from Rs 2,10,000 to Rs 10,05,000.
Manba Finance’s latest Grey Market Premium (GMP) stands at Rs 58, as of September 25, 2024, at 9:00 PM. With a price band set at Rs 120.00, the estimated listing price for the Manba Finance IPO is projected to be Rs 178, which combines the cap price with today’s GMP. This indicates an expected percentage gain of approximately 48.33% per share.
The Manba Finance Initial Public Offering (IPO) represents a public offering of 12,570,000 equity shares aimed at raising capital to fuel the company’s growth and expansion plans.
Retail Investors: A substantial portion of the IPO, 4,399,500 shares, is reserved for retail investors.
Qualified Institutional Buyers (QIB): 2,514,000 shares are allocated to qualified institutional buyers. This segment typically includes large financial institutions, mutual funds, and insurance companies.
Non-Institutional Investors (NII): The IPO also offers 1,885,500 shares to non-institutional investors, which may include high-net-worth individuals and family offices.
The Manba Finance IPO is set to issue a total of 1,25,70,000 shares, which will be allocated across various investor categories.
This structured distribution aims to ensure a balanced investment approach, catering to different types of investors while promoting a diverse shareholder base for Manba Finance. The IPO not only presents an opportunity for various investor segments but also underscores the company’s commitment to strengthening its capital base for future growth initiatives.
Manba Finance Limited primarily targets two customer segments: (i) employees and (ii) self-employed individuals. The company customizes its financial offerings for each category, creating tailored programs to meet their specific needs. Typically, Manba Finance finances up to 85% of the vehicle’s on-road purchase price, with the customer expected to contribute the remaining balance.
The Company’s Corporate Promoters are Manba Investments and Securities Private Limited, Avalon Advisory and Consultant Services Private Limited, Manba Fincorp Private Limited, Manba Infotech LLP and Manish Kiritkumar Shah (HUF).
Share Holding Pre Issue- 100%
Share Holding Post Issue- 74.98%
Investors can bid for a minimum of 125 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.