Manba Finance IPO: The book-built issue of Rs 150.84 crore was opened on September 23 to investors via the sale of 1.26 crore fresh shares. The IPO will close on September 25.
Manba Finance GMP
The company’s shares were attracting a premium of 50% in the grey market. It is an unofficial place where shares trade illegally ahead of listing.
Manba Finance Price Band
The company kept the IPO price band between Rs 114 to Rs 120 per equity share. The allotment of shares is likely to be finalised on September 26. The listing is expected to take place on NSE and BSE on September 30.
Minimum Investment Requirement
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.
About Manba Finance
The company is a non-banking finance company that offers financial solutions 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’s target customers are mainly employees and self-employed people. The company tailors its offerings to each of these customer categories and creates customized programs.
BRLM and Registrar
Hem Securities Ltd. is working as the lead book runner of the Manba Finance IPO and Link Intime India Pvt. Ltd. as the registrar for the issue.