There is a spate of IPOs in the stock market these days. One after another IPOs are coming. Initial public offerings of many big companies are being announced. This year, IPOs of big companies like Swiggy and Lake Hyundai Motors are expected. A few years ago, the largest IPO in the country was that of LIC. It was oversubscribed.
A few months later, Tata Group’s Tata Tech went public, which was also bought by a large number of people. But the IPO we are going to discuss today has made it to the top 10 of that list, in which neither the Tata Group company, nor the Bajaj Group company, nor any Adani Group company is mentioned.
Yes, this company is none other than Manba Finance Limited Company. The last date of subscription was on Wednesday. The special thing is that Manba Finance Company has become the 7th company in India in terms of subscription. The special thing is that in terms of subscription it left behind companies like Tega Industries and MTAR Technology. Let us also tell you what kind of numbers have been seen from Manaba Finance Limited.
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Record subscription in Manaba
The IPO of Manaba Finance Limited has received 224 subscriptions till Wednesday, the third and final day of bidding. The Rs 151 crore IPO of non-banking financial company (NBFC) Manaba Finance received bids for 1,96,32,02,000 shares against the proposed offer of 87,99,000 shares, according to NSE data.
The NII segment received 510.89 times subscription while the QIB share received 148.55 times subscription. The retail individual investors (RII) share received 142.40 times subscription. 1,25,70,000 new shares have been issued in the IPO. The price range for the IPO is Rs 114 to Rs 120 per share.
The proceeds of the issue will be used to meet the future capital requirements of the company and for the general functioning of the company. Manaba Finance offers financial solutions for vehicle loans, used cars, small business loans and personal loans. It is currently operational in 66 locations across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh.
Top 10 highest-grossing IPOs in the country by subscription
| IPO | subscription |
| Latent View Analytics Ltd | 326.49 fold |
| Vibhor Steel Pipes Limited | 320.05 fold |
| Paras Defense and Space Technology | 304.26 fold |
| Salasar Tecno Engineering | 273.05 fold |
| Apollo Microsystems | 248.51 fold |
| Astron paper and cardboard factory | 241.75 fold |
| Manaba Finance Limited | 224.05 fold |
| Tega Industries Limited | 219.04 fold |
| Gala Precision Engineering Limited | 201.41 fold |
| MTAR Tech Ltd. | 200.79 fold |
This IPO got the highest subscription
If we go through the pages of history, the IPO of any major company got the highest subscription, the name of that company was Latent View Analytics Limited which got 326.49 times subscription. With an issue price of Rs 197, the shares of the company closed at Rs 488.60 on the day of listing. Till now, IPOs of only three major companies had received more than 300 subscriptions. Which includes Vibhor Steel Tubes Limited 320.05 times and Paras Defence and Space Tech 304.26 times. Tega Industries Limited is also on this list where 219.04 times subscription was received. Whereas Gala Precision Engineering Limited got 201.41 times subscription and MTAR Tech Limited got 200.79 times subscription.
