Desk
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Manba Finance IPO Listing Price: Manba Finance has been listed on Monday. Its listing was quite spectacular. The company's shares have been listed on BSE at a 25 percent premium. The price of its shares in the IPO was finalized at Rs 120, while its listing has been done at a rate of Rs 150 on BSE. After listing, its shares have strengthened further. The company's shares have reached Rs 156 with a gain of Rs 36 or 30 percent from the IPO price.
How was the IPO (Manba Finance IPO)
Manba Finance's IPO received a strong response. Its IPO was subscribed 224.05 times. The retail investors' portion was subscribed 143.95 times. Due to this, the premium (GMP) of the company's shares in the grey market became very high.
At one point, Manba Finance's GMP had reached Rs 64, due to which there were expectations of its shares getting listed at a premium of more than 50 percent. However, the GMP later declined.
Manba Finance IPO
Manba Finance is a non-banking finance company (NBFC) started in 1998. Manba Finance provides loans for financing vehicles. These vehicles include two-wheelers, three-wheelers, electric two-wheelers, and electric three-wheelers as well as old cars.
The company also gives loans to small businesses. It also gives personal loans.
