Manba Finance The IPO has received an excellent response from investors. If you have been allotted this IPO, then let us tell you that there are indications of its strong listing from the gray market. Let us know how much higher the listing can be compared to the issue price.
Response to IPO
Manba Finance, a company that provides loan facilities for 2-wheeler and 3-wheeler vehicles, is going to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Monday i.e. 30th September. If we look at the response to the IPO, it was subscribed a record 224.05 times. The company has received bids for 197.18 crore equity shares in exchange for about 88 lakh equity shares. Whereas in QIB category it was subscribed 148.55 times. It has been subscribed 511.62 times from NII category and 143.95 times from Retail category.
gray market situation
There are indications of strong listing of this IPO from the gray market. Compared to the issue price of Rs 120 per share, there are indications that this IPO will be listed at a premium of around Rs 38 i.e. 31.67%.
However, there has been a decline in gray market premium since the date of allotment. The premium for Manba Finance on the day of allotment on September 26 was ₹58 per share. Let us tell you that the situation in the gray market is constantly changing, most investors look at the gray market premium to indicate listing.
business model
The name of the company is Manba Finance, which is associated with the business of NBFC. The company provides financial services like auto loan, loan for second hand cars, loan for small business, personal loan. At present the company is operational at 66 locations in 6 states of the country. Which includes Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh.
AUM
The company’s assets under management (AUM) increased to ₹936 crore in FY2024. Whereas in FY 2022 it was ₹495 crore, which shows a compound annual growth rate (CAGR) of 37.5%. The company’s profit increased by 89.5% to ₹31.41 crore in FY24, compared to ₹16.58 crore last year, while revenue increased by 44% to ₹191.58 crore.