Thu Sep 26 06:10:27 UTC 2024: ## Manba Finance IPO Oversubscribed 224 Times, Allotment Expected Today

**Mumbai, India** – The initial public offering (IPO) of Manba Finance, a Maharashtra-based company specializing in loans for two- and three-wheeler segments, has been met with overwhelming enthusiasm from investors. The IPO, launched on September 23rd, was oversubscribed by a staggering 224.10 times, with non-institutional investors leading the charge, subscribing 511.65 times their allotted quota.

The IPO, which aimed to raise Rs 150.84 crore through a fresh issue, was priced between Rs 114-120 per share. The company plans to utilize the funds to strengthen its capital base and meet future capital needs.

Allotment of shares is expected to take place today, September 26th. Investors can check their allotment status on the registrar’s website or the Bombay Stock Exchange site. The company’s shares are slated to be listed on the stock exchanges on September 30th, with market observers predicting significant listing gains.

Meanwhile, the grey market, an unofficial market for trading IPO shares before listing, has seen Manba’s shares trading at a 45-50 percent premium over the upper price band.

**Other Market News:**

* **Gold prices remain steady:** Gold prices remained steady on Thursday, hovering close to record highs, with expectations of another U.S. rate cut this year.
* **KRN Heat Exchanger IPO:** The IPO of KRN Heat Exchanger is set to be listed on the BSE and NSE on October 3rd. The company plans to use the IPO proceeds to establish a new manufacturing facility in Neemrana, Rajasthan.

**Disclaimer:** This news article is based on information available at the time of writing and may not reflect the latest market developments.

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