Manba Finance IPO Allotment: Record Response on cards — Check out the latest details for investors

The latest sensation in the financial markets is Manba Finance IPO, which has been received with massive interest from investors. Since the allotment process gets finished today i.e., September 26, 2024, people are curious to know what happens next!

Good Response of Manba Finance IPO Potential Unprecedented Demand

Manba Finance IPO
Manba Finance IPO

The Manba Finance IPO was open for subscription from September 23 to September 25 and received a staggering oversubscription rate of 224x on closing. 10 times. This results in bids of about 1. The New York Stock Exchange traded this share for 97 billion shares against the offered8. 8 million shares. This was especially strong among Non-Institutional Investors (NIIs) who bid 511. Encountering 148 times subscription, led by Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs) impacting it 65 times. 55 timesand144. 03 times, respectively

Allotment Process & How to Check Status?

Now that the finalization of the basis of allotment is confirmed today, you can check your ASBA application status on the following websites:

BSE Website:

Visit the BSE website.

Click on ‘Equity’.

Choose ‘Manba Finance Limited’.

Step 1: Fill in your Application number and PAN.

Enter ‘Search’ to see the status of your allotment of yours.

Link Intime India:

Visit the Link Intime Website

You select Manba Finance Limited

Select either of two options to input either your application number or PAN.

Make sure to finish the captcha and click submit to see how it is going.

Grey Market Premium (GMP) / Kostak and Rate//Offer price

Note that as of today, the Grey Market Premium (GMP)for Manba Finance shares is at₹58 — this suggests that the stock may list around₹178on the exchanges, equating to nearly a49% gain over the upper band of ₹120 set for its IPO price. Investors find the premium above Rs.90 per share that is prevailing in the grey market as a positive sign, giving hope that investment into this scrip might give profits when it finally enters BSE and NSE bourses on 30th Sept 2024.

About Manba Finance

Manba Finance, established in 1998, is a non-banking finance company (NBFC), that offers financial products for two-wheelers, three-wheelers, electric vehicles, and used cars along with Personal Loans PenFed says the company will focus mainly on employees and self-employed who are looking for easy access loans.

Future Prospects and Investor Sentiment

Proceeds from the IPO would go towards recapitalizing Manba Finance to meet further growth requirements. Analysts are upbeat on the company on account of strong financials and a growing market with an improving loan demand pattern. The case, however, is not without its challenges – capital costs are rising and so are bad loans, which might have implications for profitability.

Wrapping up the news of Manba Finance:

A key importance and setting the benchmark for the future Indian public offers, Manba Finance set a platform for itself and the investors as it waits for its allotment result. This IPO is going to create huge anticipation relating to its market debut since GMP shows promising conditions for listing.

In essence, whether you are an experienced investor or new to the stock market, you will have to keep an eye on how Manba Finance performs post-listing as it starts its new life as a publicly traded company.

This text is written by Kashaf Muhammad

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