Manba Finance IPO Review and Rating :The IPO of non-banking financial company Manba Finance has opened for subscription today on 23 September 2024. The size of the IPO is Rs 150.8 crore and the company aims to raise funds of Rs 150.84 crore by issuing a completely fresh issue of 12,570,000 shares. The company has fixed the price band for the IPO at Rs 114-116 per share. Whose lot size is 125 shares. The IPO can be subscribed till 25 September. The company’s shares will be listed on BSE and NSE on 30 September.
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GMP : Grey Market Premium
Today is the first day of Manba Finance’s IPO and there is a craze about it in the grey market. The company’s unlisted stock is at a premium of Rs 60 in the grey market. In terms of the upper price band of Rs 120, there are indications that the stock may be listed at Rs 180. In this regard, there are indications of a 50 percent return on listing. Manba Finance intends to use the proceeds from the IPO to meet the company’s capital requirements in the future. Link Intime India is the registrar of the Manba Finance IPO, while Hem Securities is the book-running lead manager of the public issue.
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Swastika Investmart : Subscribe with caution
According to brokerage house Swastik Investmart, high risk-taking investors can consider applying for Manba Finance IPO. The brokerage said in its report that the company has demonstrated strong growth in revenue, net interest margin and other positive financial metrics. According to the brokerage, the valuation of Manba Finance IPO is fully priced. However, it is necessary to carefully consider the size of the company, potential risks and market volatility.
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SMIFS : Subscribe for long term
Brokerage house SMIFS has advised to subscribe to this IPO for a long term. The brokerage says that investors with medium risk appetite can consider it for a long term. The brokerage says that the company currently has limited presence across the country and the level of NPA is high, however there is a good growth track record and there are better growth opportunities in the future as well.
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BP Equities : Subscribe for mid to long term
Brokerage firm BP Equities has recommended subscribing to the IPO for the mid to long term. According to the brokerage, the current issue is priced at a P/BV of 2.3x based on FY24 book value, which indicates reasonable valuation. BP Equities believes that with its strategic focus on customer satisfaction and innovative products, Manba Finance is well positioned to meet the emerging market needs.
(Disclaimer: The views or advice on the stock are given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)
