Manba Finance Shares Close At 31% Premium Over Issue Price
The share price of Manba Finance Ltd. closed on the BSE on Monday at Rs 157.45 apiece, a premium of 31.2% over the issue price of Rs 120 apiece. The stock closed at Rs 145 per share on the National Stock Exchange, marking a premium of 26.9%.
The stock had debuted at a premium of 25% at Rs 150 apiece on the BSE and at Rs 145 per share on the NSE, marking a premium of 20.8%.
The initial public offering was subscribed 224.10 times on Wednesday, making it the second largest book building subscription of the year. The company was aiming to raise up to Rs 150.84 crore from the IPO, which was an entirely fresh issue of 1.26 crore shares.
Part of the proceeds from the fresh issue will be used to augment the capital base, to meet the company's future capital requirements.
"There are three states in which we've just started in the last year, so our first focus is to penetrate these states," said Manish Shah, managing director of Manba Finance. "Then our target is to spread products like small business loans, used car loans, and three-wheeler loans that will support the company."
When it comes to medium-term plans, focus will be on entering the affordable housing finance segment, which will also give incremental support to the assets under management, he said.
Manba Finance gives loans for three-wheelers, electric three-wheelers, used cars and small businesses. The NBFC also offers top-ups and personal loans for existing customers.
The company is present in Maharashtra, Gujarat and Rajasthan, and has recently expanded its presence to Chhattisgarh, Madhya Pradesh and Uttar Pradesh. Hem Securities is the sole lead manager to the issue.
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
