• Welcome to Tazzanews.com
Home
'
market

Manba Finance IPO opens tomorrow: GMP, price, review, other details of upcoming IPO in 10 points

author
4 minutes, 30 seconds Read
Share
      

Manba Finance IPO date: The book build issue will open on September 23rd, 2024, and will remain open until September 25th, 2024.

  • Manba Finance IPO GMP today: According to market observers, the NBFC’s shares are available at a premium of ₹60 in the grey market today
  • Manba Finance IPO date: The book build issue will open on September 23rd, 2024, and will remain open until September 25th, 2024.(Photo: Courtesy company website)

 

Manba Finance IPO: The initial public offering (IPO) of Manba Finance Limited will hit the Indian primary market on 23rd September 2024, i.e. tomorrow. The upcoming IPO will remain open for bidders until 25th September 2024, i.e. Wednesday next week. The Non-Banking Financial Company (NBFC) has fixed the Manba Finance IPO price band at ₹114 to ₹120 per equity share. The book build issue aims to raise 150.84 crore by issuing fresh shares.

Meanwhile, shares of the NBFC have become available for trade in the grey market ahead of the issue opening. According to stock market observers, Manba Finance shares are available at a premium of ₹60 in the grey market today.

Important Manba Finance IPO details

1] Manba Finance IPO GMP today: According to market observers, the NBFC’s shares are available at a premium of ₹60 in the grey market today.

2] Manba Finance IPO price: The NBFC has fixed the Manba Finance IPO price band at ₹114 to ₹120 per equity share.

3] Manba Finance IPO date: The book build issue will open on September 23rd, 2024, and will remain open until September 25th, 2024.

4] Manba Finance IPO size: The book build issue is complete fresh shares, which aims to raise ₹150.84 crore.

5] Manba Finance IPO lot size: Bidders can apply in lots, and one lot of the public issue will comprise 125 company shares.

6] Manba Finance IPO allotment date: The most likely Manba Finance IPO allotment date is 26th September 2024.

7] Manba Finance IPO registrar: Link Intime India Private Limited has been appointed official registrar of the public issue.

8] Manba Finance IPO listing date: The book build issue is proposed for listing on BSE and NSE, and the most likely date for share listing is 30th September 2024.

9] Manba Finance IPO lead manager: Hem Securities Limited has been appointed lead manager of the public offer.

10] Manba Finance IPO review: Highlighting the financials of the financial company, Anshul Jain, Head of Research at Lakshmishree Investment and Securities, said, “With an AUM of ₹936 crore as of March 31, 2024, the company has a heavy focus on vehicle loans, particularly two-wheelers, which make up 60% of its portfolio and 90% of its revenue. While this niche generates an impressive average yield of 21% annually, such high returns appear unsustainable in the long term. A glaring weakness in the company’s underwriting capabilities adds to concerns.”

The company’s recent 48% AUM growth in FY24, spurred by a one-time gain from asset recovery, masks underlying financial weaknesses. With a credit rating of BBB+ and an expensive valuation at 1.7x post-money book value, the risks far outweigh any potential gains.

Manba Finance IPO Details

IPO Date September 23, 2024 to September 25, 2024
Listing Date [.]
Face Value ₹10 per share
Price Band ₹114 to ₹120 per share
Lot Size 125 Shares
Total Issue Size 12,570,000 shares
(aggregating up to ₹150.84 Cr)
Fresh Issue 12,570,000 shares
(aggregating up to ₹150.84 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue 37,669,410
Share holding post issue 50,239,410

Manba Finance IPO Timeline (Tentative Schedule)

Manba Finance IPO opens on September 23, 2024, and closes on September 25, 2024.

IPO Open Date Monday, September 23, 2024
IPO Close Date Wednesday, September 25, 2024
Basis of Allotment Thursday, September 26, 2024
Initiation of Refunds Thursday, September 26, 2024
Credit of Shares to Demat Friday, September 27, 2024
Listing Date Monday, September 30, 2024
Cut-off time for UPI mandate confirmation 5 PM on September 25, 2024

Manba Finance IPO Lot Size

Investors can bid for a minimum of 125 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 125 ₹15,000
Retail (Max) 13 1625 ₹195,000
S-HNI (Min) 14 1,750 ₹210,000
S-HNI (Max) 66 8,250 ₹990,000
B-HNI (Min) 67 8,375 ₹1,005,000

Manba Finance IPO Anchor Investors Details

Manba Finance IPO raises Rs 45.25 crore from anchor investors. Manba Finance IPO Anchor bid date is September 20, 2024. Manba Finance IPO Anchor Investors list

Bid Date September 20, 2024
Shares Offered 3,771,000
Anchor Portion Size (In Cr.) 45.25
Anchor lock-in period end date for 50% shares (30 Days) October 26, 2024
Anchor lock-in period end date for remaining shares (90 Days) December 25, 2024

Manba Finance IPO Promoter Holding

The Company’s Corporate Promoters are Manba Investments and Securities Private Limited, Avalon Advisory and Consultant Services Private Limited, Manba Fincorp Private Limited, Manba Infotech LLP and Manish Kiritkumar Shah (HUF).

Share Holding Pre Issue 100%
Share Holding Post Issue

About Manba Finance Limited

Established in 1998, Manba Finance Limited is a non-banking finance company (NBFC-BL) offering financial solutions for new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), electric three-wheelers (EV3Ws), used cars, small business loans and personal loans.

The company’s target customers are mainly (i) employees and (ii) the self-employed. The Company tailors its offerings to each of these customer categories and creates customized programs. The Company typically finances up to 85% of the purchase price (on-road price) of the vehicle the customer wishes to purchase and prefers the customer to contribute the balance.

The company has branches in urban, semi-urban and metropolitan cities and towns serving the surrounding rural areas. The company has established relationships with more than 1,100 dealers, including more than 190 EV dealers in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh.

As of March 31, 2024, the company employed a total of 1,344 people.

Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.

 

WhatsApp Group Join Now
Telegram Group Join Now
Instagram Group Join Now
author

Pradeep kumar

i am Pradeep kumar . from bihar. my hobby blogging.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *