look news india
New Delhi, September 25 (HS). Investors have given a lot of importance to the initial public offering (IPO) of non-banking financial company Manba Finance Limited. This IPO was subscribed more than 215 times on the last day of investment. The size of this IPO is around Rs 151 crore, while investors have bid Rs 22,593 crore in it. The company's shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 30.
According to the data released by the stock market on Wednesday, the IPO of Manba Finance Limited has been subscribed overall 215 times on its last day of investor interest on 25 September 2024. The size of this IPO was Rs 150.8 crore, while a total bid of Rs 22,593.26 crore has been received from investors. In this, 35 percent quota was reserved for retail investors, which has been filled about 128.76 times. There was a 50 percent quota for QIB, which has been filled 148.55 times. At the same time, 15 percent quota was reserved for NII, which has been filled 505.73 times so far.
It is worth mentioning that the company has fixed the price band of this IPO at Rs 114-120 per share. Manba Finance wants to raise a total of Rs 150.84 crore through this issue. The company will use the money raised through the new issue under this IPO to meet its future needs. Manba Finance Limited started its business in the year 1998 from Mumbai as a non-banking finance company (NBFC). The company has branches in urban, semi-urban and metropolitan cities and towns, which provide services in the surrounding rural areas. The headquarters of this company is located in Mumbai but the company has expanded to 66 places connected to 29 branches in 6 states of Western, Central and North India.