Manba Finance Limited is an NBFC-BL that offers loans for used cars, small business loans, personal loans, and new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), and electric three-wheelers (EV3Ws). The IPO is a book-built issue of Rs 150.84 crores and is an entirely fresh offering of up to 1,25,70,000 shares without an offer of sale component. In order to satisfy the company’s future capital requirements, Manba Finance plans to use the net proceeds to broaden its capital base.

Anchor investors have contributed Rs. 45.25 crores to the firm in advance of its IPO, which is scheduled to begin public subscriptions on Monday, September 23, 2024. On Friday, September 20, 2024, the firm notified the bourses that it had allotted 37,71,000 equity shares at a price of Rs. 120 per share to anchor investors. Participating institutions in the anchor included Nav Capital VCC – Nav Capital Emerging Star Fund, Rajasthan Global Securities Private Limited, Antara India Evergreen Fund, Belgrave Investment Fund, Chartered Finance & Leasing Limited, Finavenue Capital Trust, Finavenue Growth Fund, Meru Investment Fund PCC-Cell 1, and Vikasa India EIF I Fund – Incube Global Opportunities.

On Monday, September 23, 2024, the company plans to launch the initial public offering of equity shares. It is scheduled to end on Wednesday, September 25, 2024. A price range of Rs 114 to Rs 120 per equity share has been set for the offer. The issue’s registrar is Link Intime India Private Limited, while Hem Securities Limited is the only book-running lead manager.

Manba Finance IPO is being made through the book-building method; not less than 15% of the issue will be available for allocation to non-institutional bidders, not less than 35% will be available for allocation to retail individual bidders, and not more than 50% of the issue will be available for allocation to qualified institutional buyers on a proportionate basis. Manba Fincorp Private Limited, Avalon Advisory and Consultant Services Private Limited, Manba Infotech LLP, Manba Investments and Securities Private Limited, and Manish Kiritkumar Shah (HUF) are the corporate promoters of the firm.

Since 125 shares are the minimum lot size for an application, individual investors must pay a minimum of Rs 15,000 to participate in the Manba Finance IPO. It is scheduled for the main-board IPO to go public on the BSE and NSE platforms on Monday, September 30, 2024. Investors who submitted applications for the Manba Finance IPO should be informed that shares will be credited to their demat accounts on Friday, September 27, 2024, while the allotment procedure is anticipated to be completed on Thursday, September 26, 2024.

Manba Finance IPO GMP Today

Before Manba Finance’s initial public offering (IPO) opens on Monday, September 23, 2024, traders have observed an impermissive response in the “grey market,” which is a term used to refer to unofficial market areas. As of September 22, 2024, 10:32 AM, the Manba Finance IPO’s latest GMP was Rs 60. The shares of Manba Finance IPO are trading on the grey market prior to its official listing on the stock exchange, and considering the upper price band of Rs 120.00, this indicates an impressive listing premium of 50.00%. Consequently, Rs 180 (upper price band in addition to today’s GMP) is the expected listing price for the Manba Finance IPO.

Story first published: Sunday, September 22, 2024, 12:56 [IST]