The Manba Finance IPO has garnered significant interest from investors, resulting in an oversubscription rate of 151.09 times as of 2:06 PM on Wednesday.
Non-Institutional Investors (NIIs) demonstrated the strongest demand, subscribing 404.50 times, while Retail Individual Investors (RIIs) followed with a subscription rate of 108.70 times. Qualified Institutional Buyers (QIBs) subscribed 35.23 times.
The IPO consists entirely of a fresh issue of 12,570,000 shares, available in a price band of ₹114-120, with a minimum lot size of 125 shares. Retail investors need a minimum investment of ₹15,000 to bid for one lot (125 shares) of the Manba Finance IPO.
The allotment basis for Manba Finance shares is anticipated to be finalized on Thursday, September 26, 2024, with shares credited to demat accounts by Friday, September 27, 2024. Manba Finance shares are projected to list on the BSE and NSE on Monday, September 30, 2024.
The company intends to utilize the net proceeds from the IPO to strengthen its capital base for future growth requirements. Link Intime India serves as the registrar for the IPO, while Hem Securities acts as the book-running lead manager for the public issue.
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