Manba Finance IPO: Non-Institutional Investors Show Strong Demand in Manba Finance IPO - All You Have To Know

Manba Finance IPO: The Manba Finance IPO, worth ₹151 crore, has witnessed overwhelming demand, getting oversubscribed by 73.18 times on its second day, according to NSE data. The IPO received bids for 64.39 crore shares against the offering of just 87.99 lakh shares.

The demand for Manba Finance’s IPO has been particularly strong among non-institutional investors, with this category getting oversubscribed by 172.23 times. Meanwhile, the retail individual investors' (RII) portion was subscribed 70.18 times, and the Qualified Institutional Buyers (QIBs) category saw a subscription rate of 4.15 times.

The IPO, which is set to close on September 25, 2024, has a price band of ₹114-120 per share and involves the issuance of 1.25 crore new equity shares.

This strong response reflects investor confidence in Manba Finance’s growth potential, as the company is a well-established NBFC operating in the vehicle financing sector.