Thu Sep 26 05:53:39 UTC 2024: ## Manba Finance IPO Over-Subscribed by 224 Times, Listing Expected on September 30

**Mumbai, September 26, 2024:** The much-anticipated initial public offering (IPO) of Manba Finance, a Mumbai-based shadow lender, concluded with an overwhelming response from investors. The IPO, which was open for bidding between September 23 and September 25, was oversubscribed a whopping 224.10 times.

The issue price was set at a fixed price band of Rs 114-120 per share, with a lot size of 125 shares. The company raised a total of Rs 150.84 crore through the IPO, including a fresh share sale of up to 1,25,70,000 equity shares.

The IPO saw strong demand across all categories, with non-institutional investors subscribing 511.65 times, qualified institutional bidders (QIBs) subscribing 148.55 times, and retail investors bidding for 144.03 times.

Investors can expect to receive messages, alerts, or emails regarding their fund debits or IPO mandate revocations by Friday, September 24 or over the weekend. The final basis of allotment will be finalized on Friday, September 26, and the company is expected to list on both BSE and NSE on Monday, September 30.

Manba Finance, established in 1998, offers financial solutions for new and used vehicles, including two-wheelers, three-wheelers, electric vehicles, and cars, as well as small business loans and personal loans. The company’s strong financials, rising demand for loans, and proposed business expansion led brokerage firms to recommend subscription to the issue. However, rising capital costs and increased bad loans remain key concerns for the company.

Investors can check their allotment status on the Bombay Stock Exchange (BSE) website or the Link Intime India website, the registrar for the issue.

**The IPO’s strong performance signals confidence in the growth potential of Manba Finance and the shadow lending sector in India.**

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