Manba Finance IPO subscribed 56 times so far on Day 2

24 Sep 2024 , 02:58 PM

Manba Finance’s initial public offering (IPO) received a robust response from investors on the second day of the bidding process, owing to overall demand. The issue, which opened for auction on Monday, September 23, ended the first day with over 24 times the subscription.

Manba Finance, situated in Mumbai, is selling its shares for between Rs 114 and Rs 120 each. Investors can apply for a minimum of 125 shares and multiples thereof. It intends to raise Rs 150.84 crore through an initial public offering (IPO) of 1,25,70,000 equity shares.

According to BSE data, as of 14:43 p.m. The IPO has been subscribed 56.27 times with the NII portion witnessing the maximum demand by being subscribed 123.93 times. The retail investor portion was subscribed 58.94 times followed by the QIB portion which was subscribed 3.5 times.

Manba Finance, founded in 1998, is a non-banking finance company (NBFC) that provides financing for new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), electric three-wheelers (EV3Ws), used automobiles, small business loans, and personal loans.

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