Manba Finance shares to debut today; GMP indicates strong listing
Manba Finance will debut on the exchanges today and the stock is expected to fetch healthy gains for investors, going by the grey market trends.
Ahead of the listing, the company's shares were trading with a GMP of Rs 38 in the grey market. Considering the upper price band of Rs 120, the stock is expected to list at a premium of 32% over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The company intends to use the proceeds from the fresh issuance to augment its capital base and meet future capital requirements.
Based in Mumbai, the company provides financial solutions to both salaried and self-employed individuals, offering a quick turnaround time (TAT) for loan sanction and disbursement.
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