Manba Finance IPO listing date: GMP, experts signal gains of over 30% upon debut on stock market today

Manba Finance IPO Listing: Manba Finance shares are set to make their stock market debut today after the staggering response to its initial public offering (IPO). Manba Finance IPO listing date is today, September 30.

Manba Finance IPO was open from September 23 to September 25 and was heavily oversubscribed. Manba Finance IPO listing date has been fixed today.

“Trading Members of the Exchange are hereby informed that effective from Monday, September 30, 2024, the equity shares of Manba Finance Limited shall be listed and admitted to dealings on the Exchange in the list of ‘T’ Group of Securities,” a notice on the BSE said.

Manba Finance shares will be in the Trade-for-Trade segment for 10 trading days, it added. Further, Manba Finance stock will be a part of Special Pre-open Session (SPOS) on Monday, September 30, and will be available for trading from 10:00 AM.

Ahead of the Manba Finance share listing, investors look out for trends in the grey market to gauge the listing price. Manba Finance IPO grey market premium (GMP) today ahead of the listing indicates a decent debut. Analysts also expect Manba Finance IPO listing to be at a strong premium.

Manba Finance IPO GMP Today

Manba Finance shares are commanding a decent premium in the unlisted market. Manba Finance IPO GMP today is ₹37 per share, according to stock market experts. This suggests that in the grey market, Manba Finance shares are trading higher by ₹37 than their issue price.

Manba Finance IPO Listing Price

Considering the issue price and the Manba Finance IPO GMP today, the estimated listing price of Manba Finance shares is ₹157 apiece, which is at a premium of 31% to the IPO price of ₹120 per share.

Analysts also expect Manba Finance shares to list at a premium of 30-40% on the back of strong demand for its IPO.

“Manba Finance Ltd’s offering saw impressive demand, with a subscription rate over 224 times, signaling a strong debut today, potentially at a 30-35% premium. With improving RoCE margins, reduced NPAs, and expansion plans, investors who have been allotted shares are advised to hold their position from a medium to long-term perspective,” said Akriti Mehrotra, Research Analyst, Stoxbox.

Manba Finance’s AUM grew at a 37.5% CAGR from FY22 to FY24, reaching ₹9,368.6 million, while profit after tax rose to Rs. 314.2 million. Operating across six states with over 1,100 dealers, Manba has expanded into personal, business, and used car loans, Mehrotra noted.

According to Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, Manba Finance IPO looks fully priced based on FY24 earnings.

“We expect a listing at around ₹175 - 180 per share, resulting in a listing gain of around 45%. After the IPO, we advise investors to record short-term profits,” Goel said.

Manba Finance IPO Details

Manba Finance IPO opened for subscription on Monday, September 23, and concluded on Wednesday, September 25. The IPO allotment date was September 26 and the Manba Finance IPO listing date is today, September 30. The equity shares of Manba Finance will be listed on both the stock exchanges, BSE and NSE.

The company raised ₹150.84 crore from the book-built issue which comprised entirely a fresh issue of 1.26 crore shares. Manba Finance IPO price band was ₹114 to ₹120 per share.

Manba Finance IPO was subscribed by a staggering 224.10 times in total. The public issue was bought 144.03 times in the retail category and 148.55 times in the Qualified Institutional Buyers (QIB) category. The Non Institutional Investors (NII) portion was booked 511.65 times, according to NSE data.

The company proposes to utilise the net issue proceeds towards augmenting the capital base to meet the company’s future capital requirements.

Hem Securities is the book running lead manager of the Manba Finance IPO, while Link Intime India Private Ltd is the IPO registrar.

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