Manba Finance’s IPO is a book-built issue amounting to Rs 150.84 crores. The entire issue consists of a fresh offering of 1.26 crore shares.
The subscription period for the Manba Finance IPO begins on September 23, 2024, and will close on September 25, 2024. The allotment of shares is expected to be finalized on Thursday, September 26, 2024. Manba Finance is set to list on both the BSE and NSE, with the tentative listing date scheduled for Monday, September 30, 2024.
Manba Finance operates in the non-banking financial sector. They provide a range of financial solutions, including loans for new and used two-wheelers (2Ws), three-wheelers (3Ws), electric vehicles (EV2Ws and EV3Ws), used cars, small business loans, and personal loans.
The price band for the Manba Finance IPO has been set between ₹114 and ₹120 per share. Investors must apply for a minimum lot size of 125 shares, which requires a minimum investment of ₹15,000 for retail investors. For small non-institutional investors (sNII), the minimum investment is 14 lots (1,750 shares), totaling ₹210,000, while large non-institutional investors (bNII) must invest in at least 67 lots (8,375 shares), which amounts to ₹1,005,000.
Hem Securities Limited is acting as the book-running lead manager for the Manba Finance IPO, and Link Intime India Private Ltd is the registrar for the issue.
Manba Finance IPO Details:
| Company Name | Manba Finance Limited |
| Sector | Non-Banking Financial |
| IPO Type | SME |
| IPO Open date | 23rd Sep 2024 |
| IPO Close date | 25th Sep 2024 |
| OFS | |
| Listing Exchanges | NSE, BSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Manba Finance IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 125 | 15,000 |
| sHNI (Min) | 14 | 1750 | 2,10,000 |
| bHNI (Min) | 67 | 8375 | 10,05,000 |
Manba Finance IPO Timeline:
| IPO Open Date | 23rd Sep 2024 |
| IPO Close Date | 25th Sep 2024 |
| Basis of Allotment | 26th Sep 2024 |
| Refund Initiation Date | 27th Sep 2024 |
| Shares Credit to Demat | 27th Sep 2024 |
| Listing Date | 30th Sep 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Manba Finance’s financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Non-Banking Financial Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Manba Finance and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
