Manba Finance IPO Allotment Today; Check GMP And Steps To Check Status

The initial public offering of Manba Finance Ltd. received a massive response from the investors. The IPO concluded on Wednesday and was subscribed 224.10 times, led by demand from non-institutional investors.

The Rs 151-crore initial share sale received bids for 1,97,18,34,875 shares against 87,99,000 shares on offer, as per NSE data.

The portion for non-institutional investors received a mammoth 511.65 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 148.55 times. The Retail Individual Investors (RIIs) quota garnered 144.03 times subscription.

The Manba Finance IPO was subscribed 73.23 times on day two of subscription on Tuesday while it received 23.79 times subscription on the first day of bidding on Monday.

The IPO was a fresh issue of up to 1,25,70,000 equity shares. The price range for the offer was set at Rs 114-120 per share. The minimum application lot size was 125 shares.

Ahead of the IPO, Manba Finance allotted 37.7 lakh shares at Rs 120 per share to eight anchor investors, raising Rs 45.25 crore.

The allotment for the Manba Finance IPO will be finalised on Thursday, September 26 and the company will likely list on the BSE and the National Stock Exchange on September 30.

Hem Securities Ltd. is the book-running lead manager for the IPO. Investors can check the Manba Finance IPO allotment status on the official website of the registrar for the IPO, Link Intime India Pvt. Ltd. and on BSE website.

• Visit the official website of Link Intime India here.

• Choose 'Manba Finance Limited' from the list of companies in the dropdown. (The name will be displayed once the share allocation is finalised)

• Select either PAN, Application Number, DP/Client ID or Account Number/IFSC to verify your allotment status.

• Enter the required information based on your selection above.

• Click the 'Submit' button to check your allotment status.

• Go to the official BSE website at https://www.bseindia.com/investors/appli_check.aspx

• Select the issue type as 'Equity.'

• Choose 'Manba Finance Limited' from the dropdown menu.

• Enter your application number or PAN (Permanent Account Number).

• Complete the 'Captcha' for verification.

• Click on the 'Search' button to view your allotment status.

The grey market premium of Manba Finance is Rs 58 as of 11:23 a.m. on September 26, implying a 48.33% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 178 per share.

GMP is not an official price quote for the stock and is based on speculation. 

• IPO Open Date: Monday, September 23

• IPO Close Date: Wednesday, September 25

• Basis of Allotment: Thursday, September 26

• Initiation of Refunds: Thursday, September 26

• Credit of Shares to Demat: Friday, September 27

• Listing Date: Monday, September 30

Proceeds from the fresh issue will be used to augment the capital base, to meet the company’s future capital requirements.

Manba Finance gives loans for three-wheelers, electric three-wheelers, used cars and small businesses. The NBFC also offers top-ups and personal loans for existing customers.

The IPO-bound company is present in Maharashtra, Gujarat and Rajasthan, and has recently expanded its presence to Chhattisgarh, Madhya Pradesh and Uttar Pradesh.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.