Gehlaut’s reduction in stake is part of the company’s path to institutionalisation after he stepped down as promoter in February 2023. From a 21% stake in December 2021, Gehlaut has reduced his stake to around 2% currently and is poised to totally exit the non-banking finance company he founded.
The Rs 151 crore initial public offering (IPO) of Mumbai-based non-banking financial company (NBFC) Manba Finance is set to open for public subscription on September
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