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.
-
Microsoft sacks two employees on call for organising vigil for Palestinians killed in Gaza war
IT giant Microsoft sacked two employees on call after they organised an unauthorised vigil at the company’s headquarters for Palestinians killed in Gaza during Israel’s war with Hamas, reported news …
-
IDFC First Bank’s Q2 profit plummets 73%
IDFC First Bank’s profit fell 73% year-on-year to ₹201 crore in the quarter ended September 2024 from ₹751 crore a year earlier, as the bank increasedprovisionsto cover for any future …
-
Shaktikanta Das receives award for A+ grade in Central Bank Report Cards 2024 in USA
Shaktikanta Das, theGovernor of Reserve Bank of India(RBI), on October 26, received award for A+ grade inCentral Bank Report Cards2024, for the second consecutive year.. The award, presented by Global …
-
Don’t Miss Out! How Senior Citizens Can Easily Submit Their Life Certificate Online
Introduction In India, senior citizens who receive pensions are required to submit a life certificate, known as the Jeevan Pramaan certificate, annually to ensure the continued disbursement of their pension. …
-
Can the Second Wife Claim a Deceased Government Employee’s Pension?
Family pension rules can be challenging, especially when it involves the second wife of a deceased government employee. This comprehensive guide aims to provide clarity on this topic, ensuring you …
-
Axis Bank re-appoints Amitabh Chaudhry as MD & CEO of bank for 3 years
Axis Bank on Thursday reappointed Amitabh Chaudhry as the Managing Director and Chief Executive Officer of the bank for the next three years starting January 1, 2025.