Manba Finance IPO: Manba Finance IPO will enter the stock market tomorrow, know when you can bid

Manba Finance IPO: Manba Finance Limited's Initial Public Offering i.e. IPO will open tomorrow (September 23). Investors will be able to bid for this IPO till September 25. The company's shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 30.

Manba Finance wants to raise a total of ₹150.84 crore through this issue. For this, the company will issue 12,570,000 fresh shares worth a total of ₹150.84 crore. The existing investors of the company are not selling a single share through Offer for Sale i.e. OFS.

What is the minimum and maximum amount that can be invested?

Manba Finance has fixed the price band of the issue at ₹ 114 to ₹ 120. Retail investors can bid for a minimum of one lot i.e. 125 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹ 120, then you will have to invest ₹ 15,000 for it.

At the same time, retail investors can apply for a maximum of 13 lots i.e. 1625 shares. For this, investors will have to invest ₹ 195,000 according to the upper price band.

35% of the issue reserved for retail investors

The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).

Manba Finance is a Non-Banking Finance Company (Manba Finance IPO)

Manba Finance Limited is a non-banking finance company, founded in 1998. The company offers loans for two wheelers, three wheelers, electric two wheelers, electric three wheelers, used cars, small businesses as well as personal loans.