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Manba Finance, a non-banking financial company (NBFC), specializes in loans for two-wheelers, three-wheelers, electric vehicles, used cars, and small business loans. The company is set for an exciting IPO listing on September 30, 2024. Investors are optimistic, driven by the IPO’s oversubscription, which reached a staggering 224.10 times. This demand was led by non-institutional investors (511.65x subscription), with strong participation from both retail investors (144.03x) and institutional buyers (148.55x).
The company’s shares have been trading at a grey market premium (GMP) of around ₹56-58, indicating that the listing could happen at ₹176-178 per share. This represents a significant 48-49% premium over the issue price of ₹120. The surge in interest is also attributed to the company’s solid growth trajectory, particularly in semi-urban and rural regions, where it has established a strong presence by financing vehicles and providing accessible loans.
The IPO price was set between ₹114-120 per share, and analysts expect the listing to reflect the robust demand seen during the subscription phase. With the company’s growing focus on financial inclusion and its extensive branch network, investors are anticipating a strong post-listing performance.
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