Manba Finance IPO listing: Manba Finance was listed at Rs 145 on the National Stock Exchange, a premium of 21% to the issue price. The IPO was opened to investors on September 23 and closed on September 25. The company raised fresh capital worth Rs 150.84 crore, through a sale of 1.26 crore fresh shares.
Listing day gains for retail investors
The Manba Finance stock is listed at Rs 150 on BSE…for retailers with lot size of 125 shares, it essentially translates to a gain of around 25% on listing day.
Manba Finance IPO GMP
The company’s shares were attracting a premium of 28% in the grey market ahead of listing. The GMP indicated a positive listing on bourses. The grey market is an unauthorised market to buy and sell shares illegally. Investors keep an eye on GMP to track listing gains.
Manba Finance IPO Details
The company’s IPO price band ranged between Rs 114 to Rs 120 per equity share. The allotment of shares was finalised on September 26, which could be checked on the registrar’s website. A retail buyer had to apply for a minimum of 125 shares which amounted to a sum of Rs 15,000. There were different lot sizes for small and big NIIs.
About Manba Finance
It is a non-banking finance company offering financial solutions for new two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, used cars, small business loans and personal loans. The company’s target customers are mainly employees and the self-employed. The company tailors its offerings to each of these customer categories and creates customized programs.
Objectives of IPO
The raised proceeds will be utilized to augment the capital base to meet Manba Finance’s future capital requirements.
BRLM and Registrar
Hem Securities was the book-running lead manager of the IPO and Link Intime handled the work of the registrar for the issue