Manba Finance IPO Allotment: Status, GMP, and What Investors Need to Know

Allotment Status, Grey Market Premium, and Listing Updates

Updated : 3 months ago

Categories: IPO

Tags: Manba Finance IPO 2024, Manba Finance IPO allotment status, Manba Finance GMP, Manba Finance IPO listing, upcoming IPOs 2024

The Manba Finance IPO has been one of the most eagerly awaited IPO listings in 2024, and as of today, investors are anxiously awaiting the Manba Finance IPO allotment status. With the bidding period ending on September 25, 2024, and the IPO allotment date expected to be finalized on September 26, 2024, investors are looking forward to the upcoming listing of Manba Finance shares. Let’s take a closer look at key details such as the Manba Finance IPO Grey Market Premium (GMP), allotment process, and how to check your IPO allotment status online.

Manba Finance IPO Overview

Manba Finance Ltd, a leading company in the automobile loan sector, opened its IPO for subscription on September 23 and concluded on September 25, 2024. The company is aiming to raise ₹150.84 crore through this public issue, with a price band set between ₹114 to ₹120 per share. The entire issue comprises a fresh issue of shares, amounting to 1.26 crore shares. With an impressive 224.10 times subscription, the demand for Manba Finance IPO shares was extremely high. The retail portion of the IPO was oversubscribed by 144.03 times, while the Qualified Institutional Buyers (QIB) category saw a subscription of 148.55 times. The Non-Institutional Investors (NII) category had the highest demand, being oversubscribed by a massive 511.65 times

Manba Finance IPO GMP: What the Grey Market is Saying

As of today, the Manba Finance IPO Grey Market Premium (GMP) is ₹60 per share, indicating strong demand for the shares even before listing. This means that in the grey market, Manba Finance shares are trading at ₹60 above the issue price, which suggests a positive market sentiment. Considering the current GMP of ₹60, the estimated listing price of Manba Finance shares is expected to be around ₹180 per share, a 50% premium over the IPO price of ₹120. This strong grey market activity reflects investors' confidence in the company’s future performance.

Manba Finance IPO Listing Date

For those who have successfully received allotment, the IPO listing is scheduled for September 30, 2024, when Manba Finance shares will make their debut on both the BSE and NSE. The allotment will be credited to the Demat accounts of the successful applicants by September 27, and refunds for unsuccessful bidders will be initiated on the same day.

Why the Manba Finance IPO is Gaining Attention

High Demand

The IPO saw overwhelming subscription across all categories—retail, QIB, and NII—indicating strong investor confidence.

Strong Grey Market Premium (GMP)

The ₹60 GMP is a positive indicator, suggesting a potential listing gain of 50% over the issue price.

Sector Growth

Manba Finance operates in the growing automobile loan sector, which is poised for expansion as vehicle demand rises in India. The company plans to use the IPO proceeds to boost its capital base for future growth.

Experienced Lead Manager

The IPO is managed by Hem Securities, with Link Intime India Private Ltd serving as the registrar, ensuring a smooth and reliable process for investors.

Final Thoughts: Should You Invest in Manba Finance IPO?

With strong subscription numbers, a high Grey Market Premium (GMP), and promising growth in the auto finance sector, the Manba Finance IPO stands out as an attractive opportunity for both retail and institutional investors. The high demand, especially from Non-Institutional Investors (NII), reflects strong confidence in the company’s future. That said, it's important to evaluate your risk appetite and consult a financial advisor before investing. With potential for significant listing gains, Manba Finance could be a valuable addition to your portfolio in 2024, especially for those looking to invest in a fast-growing sector.

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