Manba Finance Limited, a Mumbai-based non-banking financial company (NBFC), made its debut on the stock exchanges on Monday (September 30), listing at Rs 145 on NSE, a premium of 20.83 per cent over its IPO price of Rs 120. Similarly, the company on the BSE listed at Rs 150, up by 25 per cent premium.
By the end of the trading session, the shares of the company closed at Rs 157.45 on the BSE, a 31.21 per cent premium over the issue price, and at Rs 152.25 on the NSE, a 26.88 per cent premium.
NSE - Share Performance |
At the closing price on its first day of trading in the Indian headline indices, the company's market capitalisation stood at Rs 791.02 crore on the BSE and Rs 764.90 crore on the NSE.
Trading Volumes on Day 1
As per data, around 40.13 lakh shares were traded on the NSE, while 14.05 lakh shares changed hands on the BSE.
The combined turnover for both exchanges stood at Rs 80.85 crore.
"We are immensely grateful to all our investors for placing their trust and confidence in our vision. Today marks a significant milestone in our journey, and this listing is a testament to the hard work and dedication of our team, as well as the unwavering support from our stakeholders. As we embark on this new chapter as a publicly listed company, we remain committed to delivering long-term value, driving innovation, and maintaining the highest standards of corporate governance. Thank you for believing in our story and being part of our growth," said Manish Kiritkumar Shah, MD – Manba Finance Ltd.
IPO Subscription
The public issue of the company was open for subscription from September 23 to September 25, with the issue subscribed 224.05 times.
The Qualified Institutional Buyers (QIB) category was subscribed 148.55 times, the Non-Institutional Investors (NII) portion saw a 511.62 times subscription, and the retail portion was subscribed 143.95 times.
