Thu Sep 26 08:00:16 UTC 2024: ## Manba Finance IPO Allotment Expected Today, Overwhelming Response from Investors

**Mumbai, September 26, 2023** – The initial public offering (IPO) of Manba Finance Ltd, an automobile loan company, has witnessed an overwhelming response from investors, with the bidding period concluding on September 25th. Investors are eagerly awaiting the Manba Finance IPO allotment, which is expected to be finalized today, September 26th. The IPO listing is scheduled for September 30th.

The public issue, which was open for subscription from September 23rd to 25th, received an astounding 224.10 times oversubscription. This includes 144.03 times in the retail category, 148.55 times in the Qualified Institutional Buyers (QIB) category, and a whopping 511.65 times in the Non Institutional Investors (NII) portion.

The company is expected to fix the basis of allotment today, with shares credited to the demat accounts of successful applicants on September 27th. Refunds will be initiated for unsuccessful bidders on the same day.

Investors can check their allotment status online through the BSE website (https://www.bseindia.com/investors/appli_check.aspx) or the IPO registrar website (https://linkintime.co.in/initial_offer/public-issues.html).

Manba Finance shares are currently trading at a premium in the grey market, with a Grey Market Premium (GMP) of ₹60 per share. This indicates a potential listing price of ₹180 per share, representing a 50% premium to the IPO price of ₹120 per share.

Manba Finance raised ₹150.84 crore from the book-built issue, which comprised entirely a fresh issue of 1.26 crore shares. The company plans to utilize the net issue proceeds to augment its capital base and meet future capital requirements.

Hem Securities is the book running lead manager of the Manba Finance IPO, while Link Intime India Private Ltd serves as the IPO registrar.

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