Wed Sep 25 03:59:45 UTC 2024: ## Manba Finance IPO Over-Subscribed 74 Times, Grey Market Premium Reaches 48%

**Mumbai, September 25, 2024** – Manba Finance, a non-banking financial company (NBFC), has witnessed an overwhelming response to its initial public offering (IPO), with the issue over-subscribed by 74 times as of September 24. The IPO, which opened on September 23 and will close on September 25, aims to raise Rs 150.84 crore through the sale of 1.26 crore fresh shares.

The retail segment of the IPO has been particularly popular, with subscriptions exceeding 71 times the offered shares. The company had set the IPO price band between Rs 114 and Rs 120 per equity share, and the allotment of shares is expected to be finalized on September 26, followed by refunds and share credits.

The strong demand for Manba Finance’s IPO is reflected in the grey market, where shares are trading at a premium of 48%. This unofficial market, where shares are traded before listing, indicates investor confidence in the company’s future prospects.

Meanwhile, Tata Motors has launched the Nexon iCNG, a new addition to its popular Nexon lineup. The vehicle offers a unique four-powertrain option, making it a strong competitor to the Maruti Suzuki Brezza. The Nexon iCNG boasts features like a turbo petrol engine, twin CNG cylinders, spacious boot space, and advanced safety features. Prices range from Rs 8.99 lakh to Rs 14.99 lakh.

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