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The initial public offering (IPO) of Manba Finance Limited has taken the market by storm, fully subscribing within just an hour of its opening. If you’re looking for investment opportunities in the NBFC sector, here’s everything you need to know about this exciting IPO.
Manba Finance IPO Overview
The Manba Finance IPO launched today, aiming to raise ₹150.84 crore through a fresh issue of shares. The price band for the IPO is set between ₹114 and ₹120 per equity share. This book build issue will remain open for bidding from September 23 to September 25, 2024.
Key Financial Metrics
- IPO Size: ₹150.84 crore (fresh issue)
- Price Band: ₹114 – ₹120 per equity share
- IPO Dates: September 23 – September 25, 2024
Grey Market Premium (GMP)
As of today, shares of Manba Finance are trading at a grey market premium (GMP) of ₹60. This premium indicates strong market confidence in the NBFC, suggesting a potential listing price of around ₹180 per share. Market observers view this as a positive sign for prospective investors.
Manba Finance IPO Subscription Status
By 1:18 PM on Day 1, the Manba Finance IPO had already been booked 12.19 times overall. Here’s the breakdown:
- Retail Portion: Subscribed 15.76 times
- Non-Institutional Investors (NII): Subscribed 18.09 times
Such robust subscription figures indicate significant demand for the issue, making it an attractive opportunity for both retail and institutional investors.
Why Invest in Manba Finance?
Strong Market Position
Manba Finance Limited operates in the non-banking financial company (NBFC) sector, providing a range of financial services. The company’s strategic growth plans and sound financial management make it a compelling investment choice.
Attractive Valuation
With a GMP of ₹60, investors are likely to see substantial returns upon listing. The price band offers a competitive entry point for those looking to invest in the growing NBFC sector.
Use of Proceeds
The net proceeds from the IPO will be used to bolster the company’s balance sheet, enhancing its financial stability and capacity to expand operations.
Conclusion
The Manba Finance IPO is generating buzz in the market with its strong subscription rates and attractive grey market premium. If you’re considering investing in the NBFC space, this could be a golden opportunity.
