Manba Finance Stock Market Listing : Shares of non-banking financial company Manba Finance have made a strong entry in the stock market. The company’s shares were listed on BSE at a price of Rs 150, while the IPO price was Rs 120. In this sense, the stock has given a return of 25 percent or Rs 30 per share on listing. The strong listing of shares even in the market selloff has made investors happy at the moment. This IPO received a bumper response from investors and was subscribed 224 times. There were indications of strong entry of this stock from the gray market also. The company had fixed the price band for the IPO at Rs 114-116 per share.
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Manba Finance IPO: Investors gave strong response
The IPO of Manba Finance was subscribed 224 times overall. In the IPO, 35 percent quota was reserved for retail investors and it was filled about 143.95 times. There was 50 percent quota reserve for QIB and it was filled 148.55 times. Whereas for NII there was 15 percent quota reserve and it was filled a total of 511.62 times. The size of the IPO was Rs 150.8 crore, while total bids of Rs 23,656.86 crore were received from investors.
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Brokerage House on Company Outlook
According to brokerage house Swastika Investmart, the company has demonstrated strong growth in revenue, net interest margin and other positive financial metrics. However, it is important to carefully consider the size of the company, potential risks and market volatility.
According to brokerage house SMIFS, the company currently has limited presence across the country and high NPA levels, however has a good growth track record and has better growth opportunities in the future.
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According to brokerage firm BP Equities, the current issue is priced at a P/BV of 2.3x based on FY24 book value, indicating fair valuations. BP Equities believes that with its strategic focus on customer satisfaction and innovative products, Manaba Finance is well placed to meet the emerging market needs.
(Disclaimer: The view or advice on the share is given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
