New Delhi: Manba Finance Ltd's IPO was subscribed 73.18 times on the second day of the share sale on Tuesday. According to NSE data, bids were received for 64,39,20,375 shares for the Rs 151-crore initial share sale, which had 87,99,000 shares on offer. Non-institutional investors subscribed 172.23 times their portion, while Retail Individual Investors (RIIs) attracted 70.18 times subscription. The demand from Qualified Institutional Buyers (QIBs) was 4.15 times higher than the quota allotted.
Manba Finance Ltd's IPO was oversubscribed by 23.67 times on its first day of bidding on Monday. The IPO will include a new offering of a maximum of 1,25,70,000 shares of stock. The offer is priced between Rs 114 and Rs 120 per share. The IPO is scheduled to end on September 25th. The money raised from the offerings will be used to increase the company's capital in order to meet future capital needs for lending and other corporate purposes.
Hem Securities is in charge of overseeing the offer. Manba Finance offers financial options for car loans, pre-owned vehicles, small business financing, and personal lending. It presently functions in 66 places within Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.
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