New Delhi: Investors of non-banking finance company (NBFC) Manba Finance Limited have got a great listing gain of 25 percent. Manba's IPO came at Rs 120 and it was listed on BSE at Rs 150 with a premium of 25 percent.

The upward trend in Manba Finance continued even after listing and the profit of IPO investors increased by 31.20 percent to Rs 157.45. This is also the limit of the upper circuit. At the same time, the company's shares were listed on NSE at Rs 145 with a jump of 20.3 percent. Later, the stock rose 26.87 percent to Rs 152.25 with an upper circuit of 5 percent.

The company's market valuation of Manba Finance stood at Rs 791.02 crore. Manba's IPO received a great response from investors. It was subscribed 223.12 times overall. The initial share sale of Rs 151 crore had a fresh issue of 1,25,70,000 equity shares. The price range for the offer was Rs 114-120 per share.

The proceeds from this issue will be used to meet the company's future capital requirements. Manba Finance provides financial solutions for auto loans, used cars, small business loans and personal loans. Its business is currently spread across 66 locations in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh.