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Manba Finance IPO: Key Details, GMP, and Price Band Revealed – ₹150.84 Cr Fresh Issue to Open Soon

The IPO of Manba Finance Limited is set to open on 23rd September 2024, Monday. The Non-Banking Financial Company (NBFC) will keep the IPO open until 25th September 2024, Wednesday. The company aims to raise ₹150.84 crore through the issue of fresh shares. The price range for the IPO has been set between ₹114 and ₹120 per share.

Before the IPO opens, shares of Manba Finance are already trading in the grey market. As per stock market experts, the shares are available at a premium of ₹60.

Here are 10 important details about the Manba Finance IPO:

  1. Grey Market Premium (GMP): Manba Finance shares are trading at a ₹60 premium in the grey market as of today.
  2. IPO Price: The price range for the IPO is between ₹114 and ₹120 per share.
  3. IPO Dates: The IPO opens on 23rd September 2024 and closes on 25th September 2024.
  4. IPO Size: The company aims to raise ₹150.84 crore by issuing fresh shares.
  5. Lot Size: Investors can apply for shares in lots, with one lot consisting of 125 shares.
  6. Allotment Date: The expected date for share allotment is 26th September 2024.
  7. IPO Registrar: Link Intime India Private Limited has been appointed as the registrar for this IPO.
  8. Listing Date: The shares are expected to be listed on BSE and NSE on 30th September 2024.
  9. Lead Manager: Hem Securities Limited is the lead manager of the public issue.
  10. IPO Review: According to Anshul Jain, Head of Research at Lakshmishree Investment and Securities, Manba Finance’s portfolio is heavily focused on vehicle loans, especially two-wheelers, which make up 60% of its loans and generate 90% of its revenue. Although this segment yields high returns (21% annually), these returns may not be sustainable in the long term. The company’s recent 48% growth in assets under management (AUM) is attributed to a one-time asset recovery, masking deeper financial challenges. With a credit rating of BBB+ and a high valuation of 1.7x post-money book value, the risks could outweigh potential benefits.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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