The Manba Finance IPO opens for subscription today and closes on September 25. The company has already raised ₹45 crore from anchor investors.
This IPO is a fresh issue of 1.25 crore shares, with no offer-for-sale component. The company aims to raise around ₹151 crore through this issue.
Manba Finance IPO Price Range
The price range for the IPO is set at ₹114-120 per share, and investors can bid for a minimum of 125 shares in one lot.
Manba Finance IPO GMP
In the grey market, the company’s shares are trading at a premium of ₹60, meaning they are priced 50% higher than the issue price.
Manba Finance IPO Review
Analysts say this IPO is suitable for investors with a high-risk tolerance, as the valuations seem reasonable. The company has shown strong growth in revenue, profit margins, and other financial factors. However, market volatility and risks should be considered before applying.
Company Background
Manba Finance, based in Mumbai, provides financial solutions to both salaried and self-employed individuals, with quick loan approvals. In FY24, 92% of its business was focused on two-wheeler loans. The company’s assets under management (AUM) grew from ₹495.82 crore in FY22 to ₹936.85 crore in FY24, a growth rate of 37.46% per year.
In FY24, Manba Finance reported a profit of ₹31.41 crore, an 89% increase from the previous year, and its revenue rose 44% to ₹191.58 crore. The company will list its shares on the BSE and NSE.
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