The initial public offering i.e. IPO of Manba Finance Limited will open from tomorrow (September 23). Investors will be able to bid for this IPO until September 25. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 30.
Manaba Finance aims to raise a total of ₹150.84 crore through this issue. For this, the company will issue 12,570,000 new shares worth ₹150.84 crore. Existing investors of the company are not selling even a single share through Offer for Sale i.e. OFS.
If you are also planning to invest money in it, we tell you how much you can invest in it.
What is the minimum and maximum amount that can be invested?
Manaba Finance has set the price band of the issue at ₹114 to ₹120. Individual investors can bid on at least one lot, i.e. 125 shares. If you apply for 1 lot in the upper IPO price band of ₹120, you will need to invest ₹15,000.
While retail investors can apply for a maximum of 13 lots, or 1625 shares. For this, investors will have to invest ₹195,000 as per the upper price band.
35% of the issue reserved for individual investors
The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% of the shares are reserved for retail investors and the remaining 15% are reserved for non-institutional investors (NII).
Manba Finance is a non-bank financing company.
Manaba Finance Limited is a non-banking financial company established in 1998. The company provides loans to two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, used cars, small businesses as well as than individual loans.
What is IPO?
When a company issues its shares to the general public for the first time, it is called an initial public offering, i.e. an IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises funds by selling some shares to the public or issuing new shares. For this, the company brings an IPO.