Manba Finance IPO Day 3: Subscribed 224.05 Times On Final Day; NII Portion Subscribed 511.62 Times

The Initial Public Offering (IPO) of Manba Finance Limited has captured the attention of investors. On the final day of bidding or Day 3 of the public issue, the IPO saw a subscription rate of 217.69 times. The issue received an impressive total of 1,97,14,04,875 bids for the 87,99,000 equity shares offered.

The public issue of the company was opened for subscription on September 23, 2024, and concluded on September 25, 2024.

The price band for the shares was set between Rs 114 and Rs 120.

Subscription Breakdown

Non-Institutional Investors (NIIs): Subscribed 511.62 times

Qualified Institutional Buyers (QIBs): Subscribed 148.55 times

Retail Investors: Subscribed 143.95 times

Funding from Anchor Investors

Before the IPO opened, the company received Rs 45.25 crore from various anchor investors, including entities like Chartered Finance & Leasing Limited and Belgrave Investment Fund.

Subscription Overview

Day 1: On the first day of bidding, the IPO was subscribed 23.79 times. Investors placed bids for 20,92,89,000 shares against the 87,99,000 shares offered

Day 2: By the second day of bidding, the subscription rate surged to 73.23 time. The issue has attracted bids for 64,43,46,500 shares against the 87,99,000 equity shares offered.

Company Profile: Manba Finance

Founded in 1998 and headquartered in Mumbai, Manba Finance operates as a Non-Banking Financial Company (NBFC). The company operates out of 66 locations across six states, catering to urban, semi-urban, and metropolitan regions, as well as surrounding rural areas.

In the fiscal year 2024, the company posted a revenue of Rs 191.63 crore and a net profit of Rs 31.42 crore. The company IPO has a total market capitalisation of Rs 602.87 crore.