Manba Finance IPO Day 3: Subscribed 224.05 Times On Final Day; NII Portion Subscribed 511.62 Times
**Manba Finance Limited IPO Receives Overwhelming Response with 217.69 Times Subscription on Day 3**
The Initial Public Offering (IPO) of Manba Finance Limited has captured significant attention from investors across the country. On the final day of bidding, or Day 3 of the public issue, the IPO witnessed a remarkable subscription rate of 217.69 times.
Investors placed a total of 1,97,14,04,875 bids for the 87,99,000 equity shares offered by the company, demonstrating strong market interest.
### IPO Timeline and Price Band
The public issue of Manba Finance Limited was open for subscription from **September 23, 2024**, and concluded on **September 25, 2024**. The price band for the shares was set between **Rs 114 and Rs 120**.
### Subscription Breakdown by Investor Category
– **Non-Institutional Investors (NIIs):** Subscribed 511.62 times
– **Qualified Institutional Buyers (QIBs):** Subscribed 148.55 times
– **Retail Investors:** Subscribed 143.95 times
### Anchor Investor Participation
Before the IPO opened, Manba Finance secured Rs 45.25 crore from anchor investors. Notable anchor investors included Chartered Finance & Leasing Limited and Belgrave Investment Fund, among others.
### Subscription Trend Over Bidding Days
– **Day 1:** The IPO was subscribed 23.79 times, with investors placing bids for 20,92,89,000 shares against 87,99,000 shares offered.
– **Day 2:** Subscription surged to 73.23 times, attracting bids for 64,43,46,500 shares.
– **Day 3 (Final Day):** The subscription rate reached 224.05 times, with Non-Institutional Investors (NIIs) contributing heavily by subscribing 511.62 times.
### About Manba Finance Limited
Founded in 1998 and headquartered in Mumbai, Manba Finance Limited is a Non-Banking Financial Company (NBFC) operating from 66 locations across six states. The company serves urban, semi-urban, metropolitan regions as well as the surrounding rural areas.
In the fiscal year 2024, Manba Finance posted a revenue of Rs 191.63 crore and a net profit of Rs 31.42 crore. Post-IPO, the company’s total market capitalization stands at Rs 602.87 crore.
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The hefty subscription numbers indicate strong investor confidence in Manba Finance Limited’s growth prospects and market presence as it enters the stock markets.
https://www.freepressjournal.in/business/manba-finance-ipo-day-3-subscribed-22405-times-on-final-day-nii-portion-subscribed-51162-times
