Thu Sep 26 07:41:18 UTC 2024: ## Manba Finance IPO Over-Subscribed 224 Times, Allotment Finalized Today

**Mumbai, September 26:** Manba Finance Ltd, a leading automobile loan provider, saw its initial public offering (IPO) garner immense investor interest, with a subscription rate of 224.10 times. The IPO, valued at ₹150.84 crore, closed on September 25, and the allotment process is being finalized today.

Investors can check their allotment status online via the BSE, NSE, or the IPO registrar, Link Intime India Private Ltd. The allotment details are available on the respective websites using the application number or PAN details.

The IPO saw significant demand from non-institutional investors (NIIs), who oversubscribed the issue by 511.65 times. Qualified Institutional Buyers (QIBs) also showed strong interest, with a subscription rate of 148.55 times. Retail investors followed closely, subscribing 144.03 times.

Manba Finance, established in 1998, provides financial solutions for various vehicle categories, including two-wheelers, three-wheelers, electric vehicles, used cars, as well as small business and personal loans. The company operates across urban, semi-urban, and metropolitan areas in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh, partnering with over 1,100 dealers, including more than 190 electric vehicle dealers.

The proceeds from the IPO will be used to strengthen the company’s capital base and support future growth initiatives. The shares are expected to be credited to investors’ Demat accounts by September 27, with listing on the NSE and BSE scheduled for September 30.

**Note:** This news article is based on the provided text and does not include any additional information or opinions. It is important to conduct further research and consult with financial experts before making any investment decisions.

Read More