Manba Finance shares listed at ₹150, up 25%: Issue price was ₹120; This non-banking finance company was established in 1998.

Shares of Manba Finance Ltd were listed at ₹150 on the Bombay Stock Exchange (BSE), 25% above the issue price. The share listed at ₹145 on the National Stock Exchange (NSE), 20.83% above the issue price. The issue price of this initial public offering was ₹120.

This IPO was open for investors from 23 September to 25 September. The IPO was subscribed a total of 224.05 times in three trading days. It was subscribed 143.95 times in the retail category, 148.55 times in the Qualified Institutional Buyers (QIB) and 511.62 times in the Non-Institutional Investors (NII) category.

Manba Finance’s issue was worth ₹150.84 crore.

This issue total of Manba Finance was ₹ 150.84 crore. For this, the company issued 12,570,000 fresh shares worth ₹ 150.84 crore. The existing investors of the company did not sell a single share through Offer for Sale i.e. OFS.

Retail investors could bid for maximum 1625 shares.

Manaba Finance had fixed the price band of this issue at ₹114 to ₹120. Retail investors could bid for a minimum of one lot i.e. 125 shares. If you had applied for 1 lot at the upper price band of IPO at ₹ 120, you would have had to invest ₹ 15,000.

At the same time, retail investors could apply for a maximum of 13 lots i.e. 1625 shares. For this, investors would have to invest ₹ 195,000 as per the upper price band.

35% of the issue was reserved for retail investors

The company had reserved 50% of the IPO for Qualified Institutional Buyers (QIB). Apart from this, 35% share was reserved for retail investors and the remaining 15% share was reserved for non-institutional investors (NII).

Manba Finance is a non-banking finance company.

Manaba Finance Limited is a non-banking finance company, established in 1998. The company provides loans to 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 i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.