The initial public offering (IPO) of Manba Finance Limited is open from September 23 to September 25, 2024. The company aims to raise ₹150.84 crore, with shares priced between ₹114 and ₹120 each. This issue consists entirely of fresh shares to strengthen its balance sheet.
Subscription Status and Market Activity
On the first day, the IPO was booked 15.14 times overall. The retail portion was particularly strong at 19.59 times, while the NII segment reached 22.73 times. Shares are trading at a premium of ₹60 in the grey market, reflecting strong interest.
MUST READ: Manba Finance IPO: Day 3 Subscription, GMP, and Should You Apply
Key Details
- IPO Size: ₹150.84 crore
- Price Band: ₹114 to ₹120 per share
- Lot Size: 125 shares
- Allotment Date: Expected on September 26, 2024
- Listing Date: Proposed for September 30, 2024, on BSE and NSE
- Registrar: Link Intime India Private Limited
- Lead Manager: Hem Securities Limited
Analyst Perspectives
Analysts have varied opinions on the IPO. Arun Kejriwal believes the small size and the merchant bank’s expertise could lead to positive market response, but cautions about competition in the NBFC sector. He recommends this IPO mainly for high-risk investors.
On the other hand, Akriti Mehrotra sees strong growth potential. She points out Manba Finance’s focus on two- and three-wheeler financing and its expansion into personal loans. With solid growth metrics and a favorable P/BV ratio of 2.3x, she recommends subscribing for medium to long-term investors.
Conclusion
The Manba Finance IPO offers an interesting opportunity in the NBFC sector. With promising growth and strong initial demand, it may attract various investors looking to tap into India’s expanding finance market.
Click here to know more.
Disclaimer
The information provided in this article is for educational purposes only. Always consult with a financial advisor before making any investment decisions. Investing in IPOs carries risks, and this article does not constitute investment advice or a recommendation.
