Manba Finance IPO: Today is the last day to bid in Manba Finance, know how many times it got subscribed…

Manba Finance IPO: Today is the last day to bid for the Initial Public Offering (IPO) of Manba Finance Limited. In two days, Manba Finance's IPO was subscribed a total of 73.65 times.

It was subscribed 71.01 times in the retail category, 4.15 times in the Qualified Institutional Buyers (QIB) category and 172.49 times in the Non-Institutional Investors (NII) category.

The company's shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 30. Manba Finance wants to raise a total of Rs 150.84 crore through this issue.

For this, the company is issuing 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.

Know how much money 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's premium in the grey market is 48.33%

Before listing, the company's stock has reached a premium of 48.33% i.e. ₹ 58 per share in the grey market. In such a situation, according to the upper price band of ₹ 120, its listing can happen at ₹ 178. However, this can only be guessed, the listing price of the stock is different from the grey market price.