Manba Finance IPO Anchor Allocation

Manba Finance IPO saw a positive anchor allocation response, with 30% of the total IPO size subscribed by anchor investors. Out of 12,570,000 shares on offer, anchors picked up 3,771,000 shares, demonstrating strong market confidence. The anchor allocation details were reported to the stock exchanges on 20th September 2024, just ahead of the IPO opening on 23rd September 2024.

The book-built issue of ₹150.84 crores comprises a fresh issue of 12,570,000 shares. The price band is set at ₹114 to ₹120 per share, with a face value of ₹10 per share. This includes a share premium of ₹110 per share at the upper end of the price band.

The anchor allocation process, which took place on 20th September 2024, saw strong participation from institutional investors. The entire anchor allocation was made at the upper end of the price band, ₹120 per share, indicating robust demand and confidence in the company's prospects.

After the anchor allocation, the overall allocation of the Manba Finance IPO looks as follows:

Notably, the 37,71,000 shares allocated to anchor investors were reduced from the original Qualified Institutional Buyers (QIB) quota. As a result, the QIB quota has been reduced from 50% before the anchor allocation to 20% after the allocation. This adjustment ensures that the overall allocation to QIBs, including the anchor portion, remains within regulatory limits.

The lock-in period for anchor investors is an important aspect of the allocation. For Manba Finance Limited IPO, the lock-in details are as follows:

• Lock-in Period (50% Shares): 26th October 2024
• Lock-in Period (Remaining Shares): 25th December 2024

This lock-in period ensures that anchor investors maintain their investments for a specified duration, stabilising the stock price after listing.

Anchor Investors in Manba Finance IPO

Anchor investors are typically large institutional investors allotted shares in an IPO before it opens to the public. The anchor allocation process is a crucial part of the IPO, as it helps in price discovery and builds confidence among retail investors. The strong response from anchor investors often sets a positive tone for the public issue and can influence the overall subscription levels.

On 20th September 2024, Manba Finance IPO completed the bidding for its anchor allocation. There was a robust response as the anchor investors participated in the book-building process. A total of 3,771,000 shares were allotted to 8 anchor investors. The allocation was done at the upper IPO price band of ₹120 per share, resulting in an overall anchor allocation of ₹45.25 crore. The anchors have already absorbed 30.00% of the total issue size of ₹150.84 crore, indicating strong institutional demand.

Key IPO Details:

• Manba Finance IPO Size: ₹150.84 crores
• Shares Allocated to Anchors: 3,771,000
• Anchor Subscription Percentage: 30%
• Listing Date: 30th September 2024
• IPO Opening Date: 23rd September 2024

Read more about Manba Finance IPO

About Manba Finance Ltd and How to Apply for Manba Finance IPO

Established in 1998, Manba Finance Limited is a non-banking finance company (NBFC-BL) offering financial solutions for new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), electric three-wheelers (EV3Ws), used cars, small business loans and personal loans. The company has established relationships with more than 1,100 dealers, including more than 190 EV dealers in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh.

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