Manba Finance Shares to List Today with Expected 35% Listing Gains
Shares of Manba Finance are scheduled to make their debut on Dalal Street today. Despite anticipation for a strong listing, investors are advised to moderate their expectations due to a significant drop in the grey market premium (GMP) ahead of the stock’s market entry.
The recent rise in broader market volatility has affected Manba Finance’s listing outlook. Prior to its debut, the company’s shares were commanding a GMP of ₹38-40 per share, indicating a potential listing gain of up to 35%. However, this premium has declined from the earlier ₹64-65 recorded on the first day of bidding.
Manba Finance IPO Overview
The Initial Public Offering (IPO) for Manba Finance was open for bidding between September 23 and September 25, offering shares in a fixed price band of ₹114-120 each, with a lot size of 125 shares. The IPO raised a total of ₹150.84 crore, entirely through a fresh issue of up to 1,25,70,000 equity shares.
The issue saw overwhelming investor interest, being oversubscribed by a stellar 224.10 times. The non-institutional investors’ portion was booked a massive 511.65 times, while the qualified institutional buyers’ quota was subscribed 148.55 times. Retail investors also showed strong participation, with their segment subscribed 144.03 times.
About Manba Finance and Market Listing
Founded in 1998, Manba Finance is a non-banking financial company (NBFC) providing financial solutions for new and electric two-wheelers (2Ws), three-wheelers (3Ws), used cars, small business loans, and personal loans. Given the company’s diversified lending portfolio, several brokerage firms maintained a positive outlook and recommended subscribing to the issue.
Hem Securities acted as the sole book-running lead manager for the Manba Finance IPO, while Link Intime India served as the registrar. The company’s shares are set to list on both the BSE and NSE, with investors keenly watching its market performance today.
