The financial sector is shining! This IPO was subscribed 224 times
Manba Finance IPO:There is a rush of people investing in IPOs. After the listing of Bajaj Housing Finance IPO, investors immediately accepted the IPO of Manba Finance Limited in the stock market. It got a subscription of over 224.05 times on the last day of IPO filing. This stock is creating a sensation in the grey market as well.
All kinds of investors enthusiastically participated in the IPO. Manba Finance Limited is a financial company that primarily offers loans for two-wheelers. The company’s IPO was opened for subscription on September 23, 2024.
The company will issue 1,25,70,000 new shares through IPO
Manaba Finance Limited will issue a total of 1,25,70,000 new shares worth Rs 150.84 crore under this IPO. OFS is not included in this. Today i.e. on the last day of subscription, investors who bid for this IPO pounced on it. The IPO of Manaba Finance Limited has received a total of 223.12 subscriptions. The money raised from the IPO will be used to meet the future capital requirements of the company and for general operations.
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When will Manaba Finance be listed?
The shares will be allotted to investors on Thursday, September 26. Following which the shares will be credited to investors’ demat accounts on Friday, September 27. Next week, on September 30, the company could be listed on both major exchanges of the Indian stock market, BSE and NSE.
How much is GMP?
Amid the huge support received from investors, there is also a huge demand for the company’s shares in the grey market. On Wednesday, September 25, Manba Finance shares were trading at a premium of Rs 58, or 48.33 percent. It is believed that at the time of listing, there may be a further increase in the GMP price of Manba Finance shares. The price of this IPO is expected to be around Rs 178.
What work does the company do?
Manba Finance Limited is primarily based in Mumbai. But it also provides its services in other cities. Manba Finance Limited partners with different banks and financial institutions to provide maximum facilities to the customers.
Disclaimer: Here we have provided you with information about stocks. Investing in the stock market is subject to market risks. Before investing in any stock, definitely follow the advice of your financial advisor.
