India's Manba Finance climbs 27% in debut trade

Manba Finance

30/09/2024 05:56

** Shares of Manba Finance Ltd  MNBA.NS  rise 26.9% to
152.25 rupees in trading debut
    ** MNBA's biggest business is providing loans for purchasing
two-wheelers
    ** Non-bank lender was up 20.8% in pre-open trade
    ** MNBA's market valuation at 7.65 billion rupees
    ** Investors bid for 224 times the shares on offer in IPO 
    ** To use IPO proceeds of 1.51 billion rupees for "future
capital requirements"
    

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))