Manba Finance IPO – On the first day of the bidding process, investors responded favorably to Manba Finance’s initial public offering (IPO). The majority of the subscriptions for the offer, which went up for bids on Monday, September 23, were from HNI and retail investors. The problem was resolved in a matter of minutes.
Manba Finance, a Mumbai-based company, is offering its shares for sale for between Rs 114 and Rs 120 each. Investors may submit applications for up to 125 shares, plus multiples of that number. Through an IPO, which consists only of the fresh share sale of 1,25,70,000 equity shares, it hopes to raise Rs 150.84 crore.
Subscription Status on Day 1
On the first day of bidding, the Manba Finance IPO received an enormous amount of interest, as seen by the skyrocketing subscription numbers. Based on data from the Bombay Stock Exchange (BSE), as of 12:30 pm, 9.21 times had been subscribed for the initial public offering (IPO). The Non-Institutional Investors (NII) component has been booked 13 times, while the retail segment saw a subscription rate of 12.65 times.
Manba IPO Issue Details
| Isse Open Date | Sept. 23 |
| Isse Closes | Sept. 25 |
| Issue Price | Rs 114 to Rs 120 per share |
| Fresh issue | Rs 150.84 crore |
| Bid Lot | 125 shares |
| Listing | BSE and NSE |
Latest GMP for Manba Finance IPO
The most recent update for Manba Finance’s initial public offering (IPO) was made on September 23, 2024, at 10:32 AM. The grey market premium (GMP) is currently Rs 60. The expected listing price, which is determined by adding the current GMP to the cap price, is Rs 180, based on the IPO’s price band of Rs 120. This implies a 50% expected gain for each share.
On Thursday, September 26, 2024, the allotment for the Manba Finance IPO is expected to be finalized. The BSE and NSE will both list the firm during its initial public offering (IPO), with a provisional listing date of Monday, September 30, 2024.
