NBFC/2W Finance - Listed on 30 September 2024
Manba Finance (NBFC/2W Finance) closed its IPO window in 2024 and listed on NSE and BSE on 30 September 2024 at an upper band issue price of Rs 120, opening at Rs 145 for a listing gain of +20.8% and closing day one at Rs 152.25 (+26.9% on closing basis). The IPO was subscribed 224.10x overall - QIB 148.55x, HNI/NII 428.81x, Retail 94.24x. The total issue size was Rs 150.84 Cr (Fresh Issue Rs 150.84 Cr, OFS Rs 0 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
NBFC/2W Finance
Manba Finance operates in the NBFC/2W Finance space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Manba Finance issue was offered at an upper price of Rs 120 and raised approximately Rs 150.84 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 235 | +216.67% |
| Day 2 | Rs 245 | +212.50% |
| Day 3 | Rs 240 | +216.67% |
| Day 4 | Rs 250 | +216.67% |
| Day 5 | Rs 260 | +216.67% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Manba Finance IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Manba Finance IPO listed at +20.8% versus the upper issue price of Rs 120 on 30 September 2024.
Manba Finance IPO was subscribed 224.10x overall. QIB portion was subscribed 148.55x, HNI / NII 428.81x and Retail 94.24x.
IPO GMP started at Rs 235 on Day 1 and moved to Rs 260 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.