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Manba Finance IPO | The company is set to determine the allocation of IPO shares by September 26, with the equity shares expected to be credited to the demat accounts of qualified investors by September 27.
Manba Finance IPO: Exceptional Investor Interest and Subscription Rate
The initial public offering (IPO) of Manba Finance garnered an exceptional level of interest from investors, achieving a remarkable subscription rate of 224.10 times.
Subscription Process and Financial Goals
The non-banking finance firm concluded the subscription process for its Rs 151-crore IPO on September 25.
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| Manba Finance IPO |
The initial public offering (IPO) of Manba Finance garnered an exceptional level of interest from investors, achieving a remarkable subscription rate of 224.10 times.
Subscription Process and Financial Goals
The non-banking finance firm concluded the subscription process for its Rs 151-crore IPO on September 25.
The company initiated its first public offering with the aim of raising Rs 150.84 crore exclusively through a fresh issue, meaning that all proceeds from the IPO (excluding expenses related to the issue) will be retained by the company.
Pricing and Offer Size OF Manba Finance IPO
The price range set for the offering was between Rs 114 and Rs 120 per share. During the period from September 23 to 25, investors acquired 197.18 crore equity shares, significantly surpassing the offer size of 87.99 lakh equity shares, as indicated by the subscription data available on the exchanges.
Breakdown of Investor Participation
Non-institutional investors dominated the activity, purchasing 511.65 times their designated quota, while qualified institutional buyers and retail investors submitted bids that were 148.55 times and 144.03 times their respective allocations, respectively.
Future Financial Plans Manba Finance
The company located in Maharashtra, which provides financing for two- and three-wheeler vehicles, plans to use the proceeds from its initial public offering to strengthen its capital base in order to address its future financial needs.
IPO Allocation and Trading Timeline
Manba Finance is set to conclude the allocation process for its IPO shares by September 26, with the equity shares expected to be credited to the demat accounts of qualified investors by September 27. The equity shares will commence trading on the stock exchanges starting September 30.
Grey Market Insights Manba Finance IPO
According to market analysts, participants in the grey market have been trading Manba's IPO shares at a premium of 45-50 percent above the upper price limit. The grey market serves as an unofficial venue for the trading of IPO shares prior to their official listing.
Pricing and Offer Size OF Manba Finance IPO
The price range set for the offering was between Rs 114 and Rs 120 per share. During the period from September 23 to 25, investors acquired 197.18 crore equity shares, significantly surpassing the offer size of 87.99 lakh equity shares, as indicated by the subscription data available on the exchanges.
Breakdown of Investor Participation
Non-institutional investors dominated the activity, purchasing 511.65 times their designated quota, while qualified institutional buyers and retail investors submitted bids that were 148.55 times and 144.03 times their respective allocations, respectively.
Future Financial Plans Manba Finance
The company located in Maharashtra, which provides financing for two- and three-wheeler vehicles, plans to use the proceeds from its initial public offering to strengthen its capital base in order to address its future financial needs.
IPO Allocation and Trading Timeline
Manba Finance is set to conclude the allocation process for its IPO shares by September 26, with the equity shares expected to be credited to the demat accounts of qualified investors by September 27. The equity shares will commence trading on the stock exchanges starting September 30.
Grey Market Insights Manba Finance IPO
According to market analysts, participants in the grey market have been trading Manba's IPO shares at a premium of 45-50 percent above the upper price limit. The grey market serves as an unofficial venue for the trading of IPO shares prior to their official listing.
FAQ
1 What is the
subscription rate for Manba Finance's IPO?
The
subscription rate for Manba Finance's IPO was an exceptional 224.10 times.
2 When did the
Manba Finance IPO subscription period take place?
The
subscription period for the IPO was from September 23 to September 25.
3 How much capital
is Manba Finance aiming to raise through the IPO?
Manba
Finance aimed to raise Rs 150.84 crore through the IPO.
4 What was the
price range set for Manba Finance shares?
The
price range for the IPO was set between Rs 114 and Rs 120 per share.
5 How are the
proceeds from the IPO expected to be used?
The
proceeds will be used to strengthen the company's capital base for future
financial needs.
6 When will Manba
Finance's shares start trading on the stock exchanges?
The
shares are expected to commence trading on September 30.
7 What was the
grey market premium for Manba Finance's IPO shares?
The
grey market was trading Manba's IPO shares at a premium of 45-50% above
the upper price limit.
