Manba Finance Limited, a NBFC-BL providing financial solutions for New two-wheeler (2Ws,) three-wheeler (3Ws), electric two-wheeler (EV2Ws), electric three-wheeler (EV3Ws), Used Cars, Small Business Loans and Personal Loans, has garnered Rs. 45.25 crores from anchor investors ahead of its initial public offering that opens for public subscription on Monday, September 23, 2024. The company informed the bourses that it allocated 37,71,000 equity shares at Rs. 120 per share on Friday, September 20, 2024, to anchor investors.
Institutions who participated in the anchor were Chartered Finance & Leasing Limited, Finavenue Capital Trustfinavenue Grwoth Fund, Anrara India Evergreen Fund, Belgrave Investment Fund, Meru Invest,ent Fund PCC-Cell 1, Nav Capital VCC - Nav Capital Emerging Star Fund, Rajasthan Global Securities Private Limited, and Vikasa India EIF I Fund - Incube Global Opportunities.
Hem Securities Limited is the sole book running lead manager, and Link Intime India Private Limited is the registrar of the issue.
IPO Details
The IPO is entirely a fresh issue of up to 1,25,70,000 shares with no offer of sale component.
The Company is proposing to open its initial public offering of Equity Shares (the "Offer") on Monday, September 23, 2024, and closes on Wednesday, September 25, 2024. The price band for the Offer has been determined at Rs 114 - Rs 120 per equity share.
The IPO will fetch Rs 150.84 crore at the upper end of the price band.
Investors can bid for a minimum of 125 equity shares and in multiples of 125 equity shares thereafter.
The issue is being made through the book-building process, wherein not more than 50% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the issue shall be available for allocation to non-institutional bidders, and not less than 35% of the issue shall be available for allocation to retail individual bidders. |
