Manba Finance IPO: Should You Apply? Key Details and Subscription Status
Manba Finance IPO: Should You Apply? Key Details and Subscription Status
IPO Overview:
Company: Manba Finance Ltd
Total Size: ₹150.84 crore
Price Band: ₹114 to ₹120 per share
Subscription Dates: september 23 to september 25
Allotment Date: Expected on september 26
Listing Date: Expected on september 30 (BSE and NSE)
Subscription Status (as of september 23, 10:43 AM):
Overall Subscription: 2.88 times
Bids Received: 2,53,47,125 shares against 87,99,000 shares on offer
Non-Institutional Investors: 4.44 times
Retail Individual Investors (RIIs): 3.86 times
Grey Market Premium (GMP):
Currently, the shares are trading ₹60 higher than the issue price, indicating a potential listing gain of approximately 50%.
Analysts' Recommendations:
Nirmal Bang Securities:
Rating: Subscribe
Comments: Strong performance despite challenges, low GNPA (4.9% in FY22), 37% CAGR growth in AUM anticipated.
Swastika:
Rating: Subscribe with caution
Comments: Good revenue and NIM growth but fully priced valuation. Recommended for high-risk investors.
StoxBox:
Rating: Subscribe
Comments: Fair valuation at P/BV of 2.3 times FY24. Focus on customer satisfaction and market adaptation.
SMIFS:
Rating: Subscribe for long-term
Comments: Growth in two-wheeler market expected, though the company is small with a limited presence. Elevated NPA levels noted.
IPO Overview:
Company: Manba Finance Ltd
Total Size: ₹150.84 crore
Price Band: ₹114 to ₹120 per share
Subscription Dates: september 23 to september 25
Allotment Date: Expected on september 26
Listing Date: Expected on september 30 (BSE and NSE)
Subscription Status (as of september 23, 10:43 AM):
Overall Subscription: 2.88 times
Bids Received: 2,53,47,125 shares against 87,99,000 shares on offer
Non-Institutional Investors: 4.44 times
Retail Individual Investors (RIIs): 3.86 times
Grey Market Premium (GMP):
Currently, the shares are trading ₹60 higher than the issue price, indicating a potential listing gain of approximately 50%.
Analysts' Recommendations:
Nirmal Bang Securities:
Rating: Subscribe
Comments: Strong performance despite challenges, low GNPA (4.9% in FY22), 37% CAGR growth in AUM anticipated.
Swastika:
Rating: Subscribe with caution
Comments: Good revenue and NIM growth but fully priced valuation. Recommended for high-risk investors.
StoxBox:
Rating: Subscribe
Comments: Fair valuation at P/BV of 2.3 times FY24. Focus on customer satisfaction and market adaptation.
SMIFS:
Rating: Subscribe for long-term
Comments: Growth in two-wheeler market expected, though the company is small with a limited presence. Elevated NPA levels noted.
Manba Finance IPO: More Details
Manba Finance’s IPO is entirely a fresh issue of up to 1.26 crore shares worth Rs 151 crore at the upper end of the price band. Currently, promoters hold 100 per cent stake in the Maharashtra-based Manba Finance.Proceeds from the issues will be utilized to augmenting the capital base to meet the company’s future capital requirements towards onward lending and for general corporate purposes.
The company said that half of the issue data-size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent shares for non-institutional investors.
Further, investors can bid for a minimum of 125 equity shares and in multiples of 125 equity shares thereafter.
Manba Finance provides financial solutions for auto loans, used cars, small business loans and personal loans. It currently operates across 66 locations in six states — Maharashtra, Gujarat, Rajasthan, Chhattisgarh, madhya pradesh and Uttar Pradesh.
Its Assets Under Management (AUM) increased to Rs 936.85 crore in FY24 from Rs 495.82 crore in FY22 with a CAGR of 37.5 per cent.
Manba Finance’s IPO is entirely a fresh issue of up to 1.26 crore shares worth Rs 151 crore at the upper end of the price band. Currently, promoters hold 100 per cent stake in the Maharashtra-based Manba Finance.Proceeds from the issues will be utilized to augmenting the capital base to meet the company’s future capital requirements towards onward lending and for general corporate purposes.
The company said that half of the issue data-size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent shares for non-institutional investors.
Further, investors can bid for a minimum of 125 equity shares and in multiples of 125 equity shares thereafter.
Manba Finance provides financial solutions for auto loans, used cars, small business loans and personal loans. It currently operates across 66 locations in six states — Maharashtra, Gujarat, Rajasthan, Chhattisgarh, madhya pradesh and Uttar Pradesh.
Its Assets Under Management (AUM) increased to Rs 936.85 crore in FY24 from Rs 495.82 crore in FY22 with a CAGR of 37.5 per cent.