NBFC IPO will open on September 3
Business Business: The IPO of non-banking finance company (NBFC) Manba Finance Limited is about to come. For this, the NBFC has announced the price range. The IPO price band of Manba Finance Limited has been fixed at Rs 114-120 per share. Let us tell you that this IPO will run from 23 to 25 September. The IPO will open for anchor investors on September 20. The size of Manba Finance Limited’s IPO is Rs 150 crore. The company may issue 1.25 crore new shares through the IPO. Please note that no shares will be issued as part of the IPO offer for sale.
The company has allotted 125 shares for this IPO. Because of this, the investor had to bet at least Rs 15,000. A maximum of 50 percent of the shares in the Manba Finance Limited IPO are reserved for qualified institutional buyers, a minimum of 35 percent of the shares are reserved for retail investors and a minimum of 15 percent of the shares are reserved for non-institutional investors. .
The company plans to use the money raised from the IPO for its future needs. We inform you that Manba Finance Limited was established in 1998. The company offers two-wheelers, three-wheelers, electric two-wheelers, small business loans and personal loans.
The company’s profit (after tax) increased by 90 per cent in the financial year ended March 31, 2024 as compared to the previous year. However, sales increased by 44 per cent as compared to the previous year. We would like to inform you that the company has appointed Hem Securities Limited as the lead manager of the IPO. The distribution of shares under the IPO of Manba Finance Limited can take place on September 26. At the same time, the IPO of the company is possible on September 30.
