Manba Finance IPO:The IPO of non-banking finance company (NBFC) Manba Finance Limited has received an amazing response. This IPO of Rs 151 crore was open for investment on 23 September and closed today on 25 September. During this period, this IPO was subscribed 223.12 times till Wednesday, the third and last day of bidding. The price band for the IPO was fixed at Rs 114-120 per share.

How many subscribers from which segment

According to NSE data, the Rs 151 crore IPO of non-banking financial company (NBFC) Manba Finance received bids for 1,96,32,02,000 shares against the proposed offer of 87,99,000 shares. The non-institutional investors' segment was subscribed 510.89 times, while the qualified institutional buyers' (QIBs) quota was subscribed 148.55 times. The retail individual investors' (RIIs) portion was subscribed 142.40 times. 1,25,70,000 new equity shares have been issued in the IPO.

What is going on GMP?

According to Investorgain.com, Manba Finance Limited IPO is available in the grey market today at a premium of Rs 58. This means that the potential listing price of the company's shares can be Rs 178. That is, investors can make a huge profit of 49% on the very first day. Let us tell you that the potential listing date of the company's shares is 30 September.

corporate planning

The funds raised from the IPO will be used to meet the company's future capital requirements and for general company operations. Manba Finance provides financial solutions for vehicle loans, used cars, small business loans and personal loans. It currently operates in 66 locations across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh.