Manba Finance Ltd.'s initial public offering has been subscribed 2.46 times within minutes of opening for bids on Monday. Net institutional investors drove demand, with retail investors a close second. The company is aiming to raise up to Rs 150.84 crore from the IPO.

The initial public offering (IPO) of Manba Finance Limited opened today. The public issue worth 150.84 crore will remain open until 25 September 2024. This mean

Manba Finance is a non-banking finance company offering financial solutions for new two-wheelers, three-wheelers, used cars, small business loans and personal loans.

Manba Finance Limited is all set to raise money through an initial public offering. Here’s everything you need to know about the IPO and the company.

Manba Finance's IPO opens for subscription on Monday, closing on September 25. The company aims to raise Rs 151 crore through a fresh issue of up to 1.25 crore shares, priced between Rs 114-120 per share.

The company's recent 48% AUM growth in FY24, spurred by a one-time gain from asset recovery, masks underlying financial weaknesses. With a credit rating of BBB+ and an expensive valuation at 1.7x post-money book value, the risks far outweigh any potential gains.

Maharashtra-based Manba Finance aims to use the IPO proceeds primarily to increase its capital base, which will help meet future capital requirements.

The Rs 151 crore initial public offering (IPO) of Mumbai-based non-banking financial company (NBFC) Manba Finance is set to open for public subscription on September 23 and will close on September 25.

Manba Finance is an entirely fresh offering of up to 1,25,70,000 shares without an offer of sale component, and it is a book-built issue of Rs 150.84 crores.

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