The bidding for the Manba Finance IPO began on Monday, September 23, and ended on Wednesday, September 25. The IPO allotment date is expected to be today, with the listing scheduled for September 30. The equity shares of Manba Finance will be listed on both the BSE and NSE.
The IPO price band was set at ₹114 to ₹120 per share, with the company raising ₹150.84 crore through a book-built issue, comprising a fresh issue of 1.26 crore shares.
The company plans to use the net proceeds from the issue to strengthen its capital base for future growth requirements.
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The Manba Finance IPO was highly subscribed, receiving 224.10 times the total bids. The retail category was subscribed 144.03 times, the Qualified Institutional Buyers (QIB) portion 148.55 times, and the Non-Institutional Investors (NII) portion saw an impressive 511.65 times subscription, according to NSE data.
Hem Securities acted as the book-running lead manager, while Link Intime India Private Ltd served as the IPO registrar.
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