The allotment status for the Manba Finance IPO is expected to be finalized today, September 26, 2024. The IPO, which was open for subscription from September 23 to September 25, received an overwhelming response, with bids for approximately 1.97 billion shares against the 8.8 million shares offered, resulting in an oversubscription of about 224.10 times.
If you’re looking to check your allotment status, you can do so on the following websites:
- BSE: Check Allotment Status on BSE
- NSE: Check Allotment Status on NSE
- Link Intime: Check Allotment Status on Link Intime
The shares of Manba Finance are priced between ₹114 and ₹120 per share, and the listing is expected to occur on Monday, September 30, 2024
Currently, the grey market premium (GMP) for the shares is around ₹58, suggesting a strong debut price.
Manba Finance IPO GMP
Manba Finance shares are commanding a strong premium in the unlisted market. According to stock market observers, Manba Finance IPO GMP today, or grey market premium today, is ₹60 per share. This means that in the grey market, Manba Finance shares are trading higher by ₹60 than their issue price.
Considering the latest trends in the Manba Finance IPO GMP and the issue price, the estimated listing price of Manba Finance share would be ₹180 apiece, a premium of 50% to the IPO price of ₹120 per share.
Manba Finance IPO Details
The bidding for Manba Finance IPO commenced on Monday, September 23, and concluded on Wednesday, September 25. Manba Finance IPO allotment date is likely today and the IPO listing date is September 30. The equity shares of Manba Finance will be listed on both the stock exchanges, BSE and NSE.
Manba Finance IPO price band was ₹114 to ₹120 per share and the company raised ₹150.84 crore from the book-built issue which comprised entirely a fresh issue of 1.26 crore shares.
The company proposes to utilise the net issue proceeds towards augmenting the capital base to meet the company’s future capital requirements.
Manba Finance IPO was subscribed by a staggering 224.10 times in total. The public issue was bought 144.03 times in the retail category and 148.55 times in the Qualified Institutional Buyers (QIB) category. The Non Institutional Investors (NII) portion was booked 511.65 times, according to NSE data.
Hem Securities is the book running lead manager of the Manba Finance IPO, while Link Intime India Private Ltd is the IPO registrar.