Manba Finance shares list at 25% premium over IPO price

Manba Finance IPO listing: Despite making a decent debut on the stock exchanges, the listing fell short of what the GMP had indicated.

In Short

• Manba Finance shares debut at Rs 150 on BSE
• Listing reflects a 25% premium over IPO price
• NSE opening price at Rs 145 shows 20.83% gain

Shares of Manba Finance made a decent debut on Dalal Street, listing at Rs 150 on the Bombay Stock Echange (BSE), marking a 25% premium over its IPO price of Rs 120 per share. On the National Stock Exchange (NSE), the stock opened at Rs 145, reflecting a 20.83% premium over the issue price.

Despite the positive start, the listing fell short of earlier expectations.

Before its debut, shares were anticipated to command a grey market premium (GMP) of Rs 38-40, suggesting a potential listing gain of up to 35% for investors.

The IPO, which ran from September 23 to September 25, was priced in a band of Rs 114-120 per share and involved a total fresh share sale of 1.26 crore shares, raising approximately Rs 150.84 crore.

The offering saw overwhelming interest, being subscribed 224.10 times overall, with non-institutional investors particularly enthusiastic, subscribing 511.65 times.

Qualified institutional buyers (QIBs) and retail investors also showed strong demand, with subscription rates of 148.55 times and 144.03 times, respectively.

Founded in 1998, Manba Finance operates as a non-banking finance company (NBFC), providing financial solutions for various vehicles including two-wheelers, three-wheelers, electric vehicles, used cars, and personal loans.

The IPO was managed by Hem Securities as the lead book runner, with Link Intime India serving as the registrar for the offering.