Manba Finance's IPO, launched today, saw strong demand, getting subscribed 23.8 times by 5 PM. Retail investors oversubscribed their portion 27.71 times, while non-institutional investors showed 43.18 times interest.
The IPO, which closes on September 25, offers shares priced between Rs 114 and Rs 120 each. The grey market premium (GMP) indicates a potential 53% listing gain, with shares commanding Rs 64 in the unlisted market. Proceeds from the Rs 150.84 crore IPO will boost the company's capital for future lending needs.