Manba Finance IPO subscribed 17.99 times on Day 1

23 Sep 2024 , 03:30 PM

Manba Finance Ltd.’s initial public offering had been subscribed to 17.99 times as of 15:25 p.m. on Monday. Non institutional investors dominated demand, with retail investors close behind. The company plans to raise up to Rs 150.84 crore through the IPO.

The NII portion of the IPO was oversubscribed 28.92 times followed by Retail portion which was subscribed 22.64 times. The QIB portion was subscribed 1.67 times.

The mainboard IPO is an entirely new offering of 1.26 crore shares. The NBFC’s IPO price band has been set between Rs 114 and Rs 120 per equity share, with a face value of Rs 10 apiece. There is no “offer for sale” component.

The minimum application lot size is 125 shares. Before the IPO, Manba Finance allotted 37.7 lakh shares at Rs 120 each to eight anchor investors, raising Rs 45.25 crore.

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