This summary provides a comprehensive overview of the Manba Finance IPO, highlighting key details and investor interest:
- Strong Investor Response: The Manba Finance IPO was fully subscribed within minutes of opening on September 23, 2024.
- Subscription Details: The IPO saw significant interest from retail and high-net-worth individual (HNI) investors.
- Price Band: Shares were offered in the price band of ₹114-₹120 per share.
- IPO Size: The company aimed to raise ₹150.84 crore through the IPO, with a fresh issue of 1,25,70,000 equity shares.
- Oversubscription: By noon on the first day, investors had bid for 6,83,20,875 equity shares, which is 7.76 times the 87,99,000 shares on offer.
- Retail and NII Interest: The retail portion was subscribed 10.78 times, while the NII portion saw a subscription of 10.63 times.
- Grey Market Premium: The grey market premium (GMP) for Manba Finance shares was around ₹60, indicating a potential 50% listing gain.
- Company Background: Established in 1998, Manba Finance is a non-banking finance company (NBFC) offering loans for two-wheelers, three-wheelers, used cars, small businesses, and personal loans.
- Market Presence: The company operates in six states: Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.
- Brokerage Views: Brokerage firms have a positive outlook on the IPO, citing strong financials and growth potential, though they note concerns about rising capital costs and bad loans.
-
Nifty Below 23,550: What FII Selling and Crude Oil Surge Mean for Indian Investors This Weekend
Indian equity markets closed sharply lower on May 29, 2026, with the NSE Nifty 50 settling at 23,547.75, breaching the critical 23,550 support level after erasing early gains. The BSE Sensex crashed 1,092.05 points or 1.44 percent to close at 74,775.74, marking one of the most volatile trading sessions of the year. This decisive breakdown…
-
PF Tax Changes in 2026: The Employer Contribution Rule Everyone Is Talking About
The Union Budget 2026-27 has introduced a transformative change to India’s provident fund taxation framework that is reshaping how employers structure compensation and how employees understand their retirement savings. Starting April 1, 2026, a uniform annual cap of Rs 7.5 lakh will apply to employer contributions across recognised provident funds, the National Pension System, and…
-
EPF May 2026 Guide What Changed Recently What Stayed the Same and What May Affect You Next
If you are an EPF subscriber in India, May 2026 brings significant changes to how you access, manage, and benefit from your provident fund. The Employees Provident Fund Organisation has approved EPFO 3.0 with ATM and UPI withdrawals expected to launch by late May 2026, while the interest rate remains unchanged at 8.25 per cent…
-
EPFO 3.0 Update Explained: Why May 2026 Could Be a Big Month for PF Members
The Employees Provident Fund Organisation is entering its most transformative phase in decades, and May 2026 marks a pivotal moment for over 8 crore PF members across India. EPFO 3.0 represents a fundamental shift from traditional, paperwork-heavy processes to a modern, digital-first system that treats PF accounts more like bank accounts with instant access capabilities.…
-
Is Your PF Balance Safe in 2026? What Employees Need to Know About Inactive Accounts and Refunds
Your Provident Fund balance is absolutely safe in 2026, even if your account has been inactive for years. The Employees’ Provident Fund Organisation (EPFO) continues to credit interest on inactive balances until you turn 58, and your money cannot be claimed by anyone else as long as it remains unclaimed. However, new 2026 rules introduce…
-
Indian stock market trends 2026: Why Sensex, Nifty 50, and Bank Nifty are telling a bigger story than the headlines
Indian stock market trends in late May 2026 are being shaped by a tug-of-war between resilient domestic growth and sticky global uncertainty, with benchmarks cooling after earlier strength but still underpinned by strong long-term earnings potential. For Friday, 29-05-2026, the key story is not just where BSE Sensex or NSE Nifty 50 closed last, but…
