So far, the stock has hit a high of 157.45 and a low of 144. On the BSE, over 7.41 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of Manba Finance was subscribed 215.84 times. The issue was open for bidding on 23 September 2024 and it closed on 25 September 2024. The price band of the IPO was fixed between Rs 114 to 120 per share.
The net proceeds from the fresh issue will be used for augmenting the capital base to meet future capital requirements.
Manba Finance incorporated in 1996 is a Non-Banking Financial Company-Base Layer (NBFC-BL) providing financial solutions for new two-wheeler (2Ws) at 91.6% of AUM end March 2024, three wheeler (3Ws), used cars, small business loans and personal loans. Based out of Mumbai, the company has expanded operations to 66 locations connected to 29 branches across six states in western, central and north India.
The company has established relationships with more than 1,100 dealers, including more than 190 EV dealers, across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh. Manba has also recently expanded the loan portfolio to Used Car Loans, Small Business Loans and Personal Loans and intend to leverage existing network to further penetrate the market with new products.
The firm reported a consolidated net profit of Rs 31.42 crore and income from operations of Rs 168.36 crore for the twelve months ended on 31 March 2024.
8 mins read . Oct 17, 2024
10 mins read . Oct 16, 2024
9 mins read . Oct 11, 2024
