Thu Sep 26 07:41:19 UTC 2024: ## Manba Finance IPO to List on September 30th, Grey Market Sees 45-50% Premium

**Mumbai, India** – Manba Finance, a Maharashtra-based company specializing in two- and three-wheeler loans, is set to list on the stock exchanges on September 30th after a highly successful IPO.

The IPO, which raised Rs 150.84 crore, saw overwhelming investor interest, with the issue oversubscribed 197.18 times. Non-institutional investors led the charge, subscribing 511.65 times their allotted quota, while qualified institutional buyers and retail investors subscribed 148.55 times and 144.03 times respectively.

The grey market, an unofficial market for trading IPO shares before listing, is currently witnessing a 45-50% premium on Manba’s shares. This suggests strong investor confidence in the company’s future prospects.

Manba Finance plans to use the IPO proceeds for general corporate purposes and capital augmentation, further strengthening its position in the two-wheeler loan segment.

Meanwhile, other business news highlights include:

* **SpiceJet clears pending salary dues:** The airline has cleared salaries for June to August after raising Rs 3,000 crore via a Qualified Institutional Placement (QIP).
* **IMF approves $7 billion bailout for Pakistan:** The first loan tranche of less than $1.1 billion will be released immediately to support the country’s efforts to address its economic crisis.
* **High net worth individuals shift from PMS to AIFs:** This is driven by lower tax complexities in AIFs, despite their larger investment ticket size requirement.

The stock market continues to be a topic of conversation, with investors eagerly anticipating the upcoming listing of Manba Finance and the ongoing performance of various sectors, including IT and Banking.

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