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Manba Finance IPO: The IPO of non-banking financial company Manba Finance, which opened for subscription on Monday, September 23, closed today i.e. Wednesday, September 25. This mainboard IPO received tremendous support from investors and on the last day, it received a total subscription of 223.12 times. Manba Finance is going to raise Rs 150.84 crore through this IPO. The company had fixed a price range of Rs 114 to Rs 120 for each share under this IPO.
The company will issue 1,25,70,000 new shares through IPO
Manba Finance Limited will issue a total of 1,25,70,000 new shares for Rs 150.84 crore under its IPO. OFS is not included in this. Today, on the last day of subscription, investors who bid on this IPO rushed to subscribe to it. Manba Finance Limited’s IPO has received a total subscription of 223.12 times. The money coming from the IPO will be used to meet the company’s future capital needs and for general operations.
Manba Finance will be listed on BSE and NSE on September 30
The shares will be allotted to the investors on Thursday, September 26. After which the shares will be credited to the demat accounts of the investors on Friday, September 27. The company may be listed on both the major exchanges of the Indian stock market, BSE and NSE, on September 30 next week.
GMP price of Manba Finance reached Rs 58
Amid the bumper support received from investors, the company’s shares are also witnessing tremendous demand in the grey market. On Wednesday, September 25, Manba Finance shares were trading at a premium of Rs 58 i.e. 48.33 percent. It is believed that the GMP price of Manba Finance shares may rise further till the listing.
