Manba Finance IPO Listing: NBFC's Public Issue Hits 5% Upper Circuit After Debut With 25% Premium On BSE

After listing, Manba Finance shares continued their upward trend, rising 5 per cent to reach the upper circuit of Rs 157.45 on the BSE and Rs 152.25 on the NSE in less than 30 minutes after making their market debut on Monday.

On Monday, the NSE and BSE combined saw the trading of nearly 48.40 lakh equity shares of Manba Finance, valued at approximately Rs 72.14 crore.

Earlier today, despite unfavourable market sentiment, Manba Finance shares had a respectable debut on the exchanges. The BSE listed Manba Finance shares at Rs 150, which represents a 25 per cent premium over the Rs 120 IPO issue price. Manba Finance shares debuted on the NSE at a 20.83 percent premium, translating the price of Rs 145 per share.

Listing gains

FPJ Shorts

UP Accident: 4 People Killed, 1 Injured After Car Collides With Tractor In Noida's Sector 24; Visuals Surface

'Your Maid Is Abla Naari, Not Me': Ritu Rathee Shares Video Supporting Husband Gaurav Taneja, CONFIRMS Separation (Video)

Tripura Governor Indra Sena Reddy Nallu Takes Oath As The Acting Governor Of Mizoram

'Aap Log ki Wajah Se Saara Cricket...': Iftikhar Ahmed Criticises Pakistan Media For Overhyping Upcoming Players

The successful bidders saw a profit of Rs 3600 per lot (125 shares/lot x 30 = 3600) as soon as the shares of Manba Finance started trading on the Indian Stock Exchange.

Utilisation of IPO proceeds

Manba Finance's entire IPO issue size, which consists only of new issues, is Rs 150.84 crore. In order to meet future capital requirements, the funds raised from the new issue will be utilised to increase the company's capital base. The NSE and BSE will list their shares.

Manba Finance IPO subscription

Investors responded favourably to Manba Finance's initial public offering. Strong demand from non-institutional investors (NIIs) helped the IPO be subscribed over 224 times. With an issue size of Rs 150.84 crore, the IPO received bids exceeding Rs 23,000 crore.

With demand for nearly 96.4 crore shares compared to the 18.85 lakh shares reserved for the category, the Manba Finance IPO was booked more than 511 times for non-institutional investors (NIIs).

Applications for 63 crore shares were received for the retail portion of the IPO, 143.9 times more than the 43.99 lakh shares allotted.

Read Also

Ashneer Grover Will No Longer Be Associated With BharatPe In Any Capacity: Read His ‘Decisive...

Company financials

With an average ticket size (ATS) of about Rs 80,000 for two-wheeler loans and an ATS of about Rs 1,40,000 for three-wheeler loans, new vehicle loans make up nearly 98 per cent of the total loan portfolio as of FY24.