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Upcoming IPO Listings: A Deep Dive into Manba Finance and Diffusion Engineers
The upcoming week promises exciting developments for investors with the listings of two new companies on the mainboard segment of the stock exchanges in India. Here’s a detailed look at Manba Finance and Diffusion Engineers, their IPO details, market expectations, and more.
Manba Finance IPO Listing Details
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Listing Date: September 30, 2024
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Stock Exchanges: BSE, NSE
IPO Overview:
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IPO Price Band: ₹114 – ₹120 per share
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Allotment Date: September 26, 2024
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Grey Market Premium (GMP): Initially started at ₹60, but has experienced fluctuations, recently noted at ₹45 or 37% over the IPO price.
Market Sentiment and Expectations:
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Subscription: Manba Finance’s IPO was significantly oversubscribed, showcasing strong investor interest. The retail category saw a subscription rate of over 143 times.
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Listing Expectations: Initial market buzz suggested a listing at around a 50% premium over the IPO price, reflecting high optimism. However, recent sentiments showed a reduction in GMP, indicating some caution or recalibration in expectations.
Company Background:
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Business Focus: Manba Finance operates as a Non-Banking Financial Company (NBFC-BL), specializing in financing for two-wheelers, three-wheelers, electric vehicles, used cars, small business loans, and personal loans.
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Financial Health: As of March 2024, it had an Asset Under Management (AUM) size exceeding ₹90,000 lakhs.
Table of Key IPO Details for Manba Finance:
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IPO Date: September 23 – September 25, 2024
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Issue Size: ₹150.84 Crores
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Lot Size: 125 Shares
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Expected Listing Gain: Initially projected at 48.33%, now adjusted expectations suggest around 37%.
Diffusion Engineers IPO Listing Details
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Listing Date: October 4, 2024
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Stock Exchanges: BSE, NSE
IPO Overview:
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IPO Price Band: ₹168 per share
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Grey Market Premium (GMP): Last noted at ₹52 or 30% over the IPO price.
Market Sentiment and Expectations:
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Subscription Details: While specific subscription numbers post-IPO were not highlighted, general anticipation around engineering firms suggests moderate to high interest, especially given the sector’s growth trajectory.
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Listing Expectations: Diffusion Engineers seems to be following a similar trend to Manba Finance with a high initial GMP, suggesting positive investor sentiment towards engineering and technology solutions providers.
Company Background:
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Business Focus: Diffusion Engineers is likely involved in engineering services, potentially focusing on technology-driven solutions or traditional engineering projects, which are critical for infrastructure and industrial developments.
Table of Key IPO Details for Diffusion Engineers:
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IPO Date: Not explicitly detailed but expected to be listed on October 4, 2024.
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Issue Size: Specific figures not provided, but typical for mid-tier companies.
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Lot Size: Information not provided, but standard practice suggests alignment with market norms.
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Expected Listing Gain: Based on GMP, approximately 30% over the issue price.
Conclusion
Both Manba Finance and Diffusion Engineers present intriguing opportunities for investors eyeing the financial and engineering sectors respectively. While Manba Finance has seen a significant interest due to its wide loan financing portfolio, Diffusion Engineers taps into the ever-growing demand for engineering expertise. Investors should keep an eye on the final GMP trends, any last-minute market news, and the overall market sentiment as these will influence the listing day’s performance.
For potential investors, these IPOs represent a blend of sector-specific growth stories, with Manba riding on the wave of consumer finance needs and Diffusion leveraging technology and engineering prowess. However, always consider the broader market conditions and individual company fundamentals before making investment decisions.
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