Sun Sep 22 14:12:12 UTC 2024: ## Manba Finance IPO to Open Next Week, Targeting Rs 150 Crore

**Mumbai, India – September 19, 2024:** Manba Finance, a non-banking finance company (NBFC) specializing in loans for two-wheelers, three-wheelers, and small businesses, is set to launch its initial public offering (IPO) next week, starting on September 23rd.

The IPO, which will run for three days, will offer shares at a price band of Rs 114 to Rs 120 per share, with a minimum bid of 125 shares. Investors can apply for the IPO from September 23rd to 25th.

Manba Finance aims to raise a total of Rs 150.84 crore through the IPO, by issuing 12,570,000 equity shares. The company, which operates across urban, semi-urban, and metropolitan cities, has established relationships with over 1,100 dealers, including EV dealers, across key states like Maharashtra, Uttar Pradesh, Madhya Pradesh, Gujarat, and Rajasthan.

The IPO has reserved 50% of the shares for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 5% for Retail Individual Investors (RIIs). Hem Securities Ltd is acting as the Book Running Lead Manager (BRLM) for the IPO, while Link Intime India is the Registrar. The tentative listing date for the Manba Finance shares is September 30th, 2024.

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