Today is the second day of investment in the Initial Public Offer i.e. IPO of Manba Finance Limited. On the first day, Manba Finance's IPO was subscribed a total of 24.12 times. This issue was subscribed 28.32 times in the retail category, 2.36 times in qualified institutional buyers (QIB) and 43.34 times in the non-institutional investors (NII) category.
25 September i.e. tomorrow is the last day of bidding for the IPO. On 30 September, the company's shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Manba Finance wants to raise a total of ₹ 150.84 crore through this issue. For this, the company is issuing 12,570,000 fresh shares worth a total of ₹ 150.84 crore. The company's existing investors are not selling a single share through the Offer for Sale i.e. OFS.
If you are also planning to invest money in this, then we are telling you how much you can invest in this.
What is the minimum and maximum amount that can be invested?
Manba Finance has fixed the price band of the issue at ₹ 114 to ₹ 120. Retail investors can bid for a minimum of one lot i.e. 125 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹ 120, then you will have to invest ₹ 15,000 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 1625 shares. For this, investors will have to invest ₹ 195,000 according to the upper price band.
35% of the issue is reserved for retail investors
The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
Manba Finance's premium in the grey market is 53.33%
Before listing, the company's stock has reached a premium of 53.33% i.e. ₹ 64 per share in the grey market. In such a situation, according to the upper price band of ₹ 120, its listing can happen at ₹ 184. However, this can only be estimated, the listing price of the stock is different from the price of the grey market.
Manba Finance is a non-banking finance company
Manba Finance Limited is a non-banking finance company, established in 1998. The company provides loans for two wheelers, three wheelers, electric two wheelers, electric three wheelers, used cars, small businesses as well as individual loans.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
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