Manba Finance Share Price/IPO (Image Source: Manba Finance)
Manba Finance Share Price: Manba Finance Limited had a strong debut on the stock exchanges today. The company’s shares are listed on the NSE at Rs 145, which is 21 per cent higher than the issue price of Rs 120 per share. On the BSE, the stock opened at Rs 150, reflecting a 25 per cent premium. Manba Finance provides loans for two-wheeler and three-wheeler vehicles.
Manba Finance IPO: Subscription Details
The IPO was subscribed an impressive 224.05 times, with bids received for 197.18 crore equity shares against the 88 lakh equity shares that were offered. The response was especially strong among different investor categories: Qualified Institutional Buyers (QIBs) subscribed 148.55 times, Non-Institutional Investors (NIIs) an astonishing 511.62 times, and retail investors at 143.95 times.
Manba Finance IPO: What Latest GMP Indicates?
The grey market, which provides insight into how a stock might perform after listing, shows promising signs for Manba Finance. Currently, shares are expected to list at a premium of approximately Rs 38. This will be a 31.67 per cent increase over the issue price of Rs 120 per share. However, it’s worth noting that the grey market premium has decreased from Rs 58 per share on the day of allotment (September 26).
Manba Finance: Financial Performance
The company’s financial performance has been impressive, with its Assets Under Management (AUM) rising to Rs 936 crore in fiscal year 2024, up from Rs 495 crore in fiscal year 2022. This growth represents a remarkable Compound Annual Growth Rate (CAGR) of 37.5 per cent. Additionally, Manba Finance reported an 89.5 per cent increase in profit, reaching Rs 31.41 crore compared to Rs 16.58 crore the previous year. Revenue also grew by 44 per cent, totaling Rs 191.58 crore in fiscal year 2024.
All About Manba Finance
Manba Finance operates in the Non-Banking Financial Company (NBFC) sector, offering a range of financial services, including auto loans, loans for used cars, small business loans, and personal loans. The company has established a presence in 66 locations across six states in India: Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.
