Last updated on September 28, 2024
Manba Finance IPO subscription started on 23 September 2024 and will close on 25 September 2024. Manba Finance plans to raise around INR 150 crores via the IPO. The price band is fixed at INR 114 – 120 per share. Manba Finance IPO market lot has 125 shares and the minimum application amount is INR 15,000. The retail quota is 35%, QIB is 50% and NII is 15%.
Check Manba Finance IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. Here you can find Manba Finance IPO subscription status segregated by days and investor categories.
Manba Finance IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 25,14,000 | 18,85,500 | 43,99,500 | 87,99,000 |
| 25 Sep 2024 | 148.55 | 506.16 | 129.95 | 215.88 |
| 24 Sep 2024 | 4.15 | 172.25 | 70.23 | 73.21 |
| 23 Sep 2024 | 2.36 | 43.18 | 27.71 | 23.79 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
Manba Finance – Business Background
The company is a Non-Banking Financial Company-Base Layer (NBFC-BL) player that caters to salaried and self-employed customers for their vehicle financing needs. Nearly 97.9% of its loan portfolio comprises of New Vehicle Loans with an average ticket size (ATS) of around
INR 80,000 for two-wheeler loans and an average ticket size (ATS) of around INR 1,40,000 for three-wheeler loans.
Based out of Mumbai, Maharashtra, the company operates from 66 locations connected to 29 branches across six (6) states in western, central and north India. Its USP is quick turnaround time (TAT) for loan sanction and disbursement and claims to sanction more than 85% loans on the same day of the application.
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Investor Categories in Manba Finance IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of the Manba Finance IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
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Manba Finance IPO Subscription Status FAQs
When will the subscription for Manba Finance IPO start?
Manba Finance IPO is open for subscription from 23 September to 25 September 2024.
How to subscribe to Manba Finance IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will Manba Finance IPO be listed?
Manba Finance IPO will be listed on 18 September 2024, at the BSE and NSE stock exchanges.
