In this post, we will learn about the Manba Finance IPO: Should you apply for this IPO? What is the subscription status? What does the company do? What is today’s GMP (Gray Market Premium), and how to check the allotment?
About the Company
Manba Finance Limited is a non-banking finance company (NBFC).
Manba Finance Limited primarily provides loans for two-wheeler and three-wheeler vehicles. The company offers financing services to customers purchasing vehicles, allowing them to buy their vehicles in easy installments. It mainly provides vehicle loans and personal loan services.
In addition, Manba Finance Limited also offers personal loans and other types of credit services. The company provides loans for various needs, such as personal expenses, education, or emergency requirements. Furthermore, it offers facilities like commercial vehicle loans and small business loans, providing financial support to small businesses and entrepreneurs.
Purpose of the IPO
The main objective of Manba Finance’s IPO is to strengthen the company’s financial position so that it can expand its business. The capital raised from this IPO will be used to enhance the company’s financial services, reach new customers, and grow its existing loan portfolio.
Additionally, the company will utilize this money to meet its working capital needs and reduce interest costs, which will help increase its profitability.
The IPO will also assist the company in enhancing its brand recognition, credibility, and promotion, enabling it to attract new investors.
IPO Amount
The Manba Finance IPO is ₹150.84 crores.
IPO Details
Price Range: ₹114 to ₹120 per share
Minimum Quantity: 125 shares
IPO Open Date: September 23, 2024
IPO Close Date: September 25, 2024
Basis of Allotment Finalization Date: September 26, 2024
Initiation of Refunds: September 26, 2024
Credit of Shares to Demat Account: September 27, 2024
IPO Listing Date: September 30, 2024
Based on these important dates, you can plan your investment and allotment process for the IPO accurately.
Subscription Status
You can check the IPO subscription status by visiting the NSE or BSE website. Here, you will find information on how many times this IPO has been subscribed.
As of today, September 23, the Manba Finance IPO subscription status is 23.67 times.
Manba Finance IPO GMP Trend
The latest GMP (Gray Market Premium) for the Manba Finance IPO is ₹64. With a price band of ₹120, the estimated listing price for the Manba Finance IPO is ₹184 (issue price + today’s GMP). The expected profit/loss percentage per share is 53.33%.
What is GMP (Gray Market Premium)?
GMP is the premium at which IPO shares are traded informally in the gray market. This means that if an IPO’s GMP is high, there is a good chance of making a profit during its listing on the stock market.
How to Check Allotment?
To check your IPO allotment, you can visit the following registrar’s website of the company and enter your PAN number, application number, or Demat account number. You can also check the allotment status on the NSE and BSE websites.
You can use the following links to check the status:
Should You Apply?
It depends on what kind of investor you are. If you are a long-term investor and trust the company’s fundamentals and growth potential, this IPO might be beneficial for you. However, before investing in an IPO, you should evaluate your investment goals and risk tolerance.
Considering all these points, you can decide whether you should apply for the Manba Finance IPO or not.