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.
Arihant Capital Markets Ltd, BP Equities (BP Wealth), Canara Bank Securities Ltd, Dilip Davda, Indsec Securities, Marwadi Shares and Finance Ltd, Nirmal Bang, Stoxbox by BP Equities Pvt Ltd, and Ventura Securities Limited have all given an “Apply” recommendation for the Manba Finance IPO. Swastika Investmart Ltd has issued a “May Apply” recommendation, while Capital Market has taken a “Neutral” stance. Axis Capital and JM Financial Institutional Securities have chosen not to rate the IPO.
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.
A retail investor needs to bid for a minimum of one lot or 125 shares which sums up to Rs 15,000. There are different lot sizes for small and big NIIs ranging between Rs 2,10,000 to Rs 10,05,000.
Founded in 1998, Manba Finance Limited is a Non-Banking Finance Company (NBFC-BL) specializing in customized financial solutions. The company provides a range of services, including financing for new and electric two-wheelers (2Ws and EV2Ws), three-wheelers (3Ws and EV3Ws), used cars, small business loans, and personal loans. With branches in urban, semi-urban, and metropolitan areas, Manba Finance also extends its services to nearby rural regions.
The initial public offering (IPO) of KRN Heat Exchanger and Refrigeration opened for subscription today, September 25, and will close on September 27. On the first day, the issue was subscribed 7.54 times. Prior to the IPO, the company raised Rs 100 crore from anchor investors, including WhiteOak Mutual Fund, Bandhan Mutual Fund, Saint Capital Fund, Ashoka India Equity Investment Trust Plc, and Holani Venture Capital Fund.
Manba Finance shares are commanding a solid premium in the unlisted market, with a grey market premium (GMP) of Rs 65 per share, according to stock market observers. This reflects a 54% increase over the issue price of Rs 120 per share, indicating strong demand ahead of the IPO.
KRN Heat Exchanger IPO gets fully subscribed within 14 minutes on the very first day. The IPO was subscribed to a total of 8.9 times. The retail segment was booked 10.30 times and NII segment a bit over 17 times.
It is the last day to bid for Manba Finance IPO. The issue has already been subscribed 102.64 times more than the offered shares. The retail segment has been booked 87.56 time while NII part was subscribed 269 times.
The shares of KRN Heat Exchangers were attracting a premium of 108.64% in the grey market. it is an unofficial place where shares trade illegally ahead of listing.
KRN Heat Exchanger and Refrigeration, a manufacturer of fin and tube-type heat exchangers, opened its IPO to investors fro bidding on Setpember 25. The IPO will close on September 27.
The company’s shares were fetching a premium of 48% in the grey market. It is an unofficial place where shares trade illegally before listing.
The IPO was subscribed 74 times more than the offered shares. The retail segment was booked 71 times, as of September 24.
The company set the IPO price band in a range of Rs 114 to Rs 120 per equity share. A retail participant can apply for as low as one allotment that contains 125 shares.