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Shares of Manba Finance, a company providing loan facilities for 2-wheeler and 3-wheeler vehicles, will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Monday (30 September). The grey market is indicating a strong listing of this IPO. As against the issue price of ₹ 120 per share, this IPO is expected to be listed at a premium of about ₹ 38 i.e. 31.67%.
However, the grey market premium has seen a decline since the date of allotment. On the day of allotment on September 26, Manba Finance's premium was ₹58 per share. The grey market is a kind of unofficial market. Most investors look at the grey market premium for indication of listing.
Analysts have opined that the stock should be held to get great returns from this stock. The price band for the Manba Finance IPO was fixed at ₹114 - ₹120 per share. The company has raised ₹150.84 crore through this IPO. This IPO is a completely fresh issue. Before launching the IPO for subscription, the company had raised ₹45.25 crore from anchor investors. The IPO received a tremendous response The special thing is that this IPO has received a great response from investors. It was subscribed a record 224.05 times. The company has received bids for 197.18 crore equity shares in exchange for 87.99 lakh equity shares. It was subscribed 148.55 times in the QIB category. It has been subscribed 511.62 times from the NII category and 143.95 times from the retail category. Where will the company use the funds? This Maharashtra-based company will use the funds raised from the IPO to increase its capital base, so that future needs can be met. How are the company's finances? During the last 3 years, the company's finances have seen consistent improvement. In the financial year 2024, Manba Finance's income stood at ₹ 191.63 crore, which was at ₹ 133.32 crore in the previous year. During this period, the company's profit also increased to ₹ 31.42 crore. In its previous financial year, it was at ₹ 16.58 crore.
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