Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Two and three-wheeler financier Manba Finance’s Rs.151-Cr IPO booked 224 times
The INR 151 crore initial public offering (IPO) of Mumbai-headquartered non-banking finance company Manba Finance recorded a 224.10 times subscription. Investors bought 197.18 crore equity shares against the offer size of 87.99 lakh equity shares. Non-institutional investors subscribed to 511.65 times the allotted quota, while qualified institutional buyers and retail investors bid 148.55 times and 144.03 times the portions set aside for them, respectively.The issue was to raise INR 150.84 crore solely via fresh issue. So the entire IPO proceeds (excluding issue expenses) will be received by the company. The price band for the issue was set at INR 114-120 per share.The company offers loans for two-and-three-wheeler segments and will use IPO funds for augmenting the capital base.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.