Tag: StockMarketIndia

Manba Finance Ltd's highly anticipated Initial Public Offering (IPO) opened on September 23, 2024, with a price band of ₹114-120 per share. The IPO, aiming to raise ₹150.84 crore, was met with overwhelming demand, being oversubscribed by 23.79 times on day one. Investors showed strong confidence despite market volatility, further emphasized by a 50% grey market premium on the shares. The proceeds will primarily bolster the company’s lending capabilities, particularly in underserved regions, as it expands its portfolio of vehicle and small business loans. The IPO closes on September 25, 2024, with shares expected to list on major exchanges by September 30​