Thu Sep 26 22:10:17 UTC 2024: ## Manba Finance IPO Over-Subscribed, Sets Stage for Listing

**Mumbai, September 26, 2024:** Manba Finance, a non-banking financial institution (NBFC) focused on retail and self-employed borrowers, has witnessed a resounding success with its initial public offering (IPO). The issue, which opened on September 23 and closed on September 25, was oversubscribed by a staggering 224.10 times.

**Strong Investor Appetite:**

The IPO, aiming to raise Rs 150.84 crore, received bids worth a massive Rs 23,656.86 crore, indicating an overwhelming investor interest in Manba Finance. The retail segment saw an incredible 129.85 times subscription, while Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) also showed strong enthusiasm with subscription multiples of 148.55 and 506.12 respectively.

**Grey Market Premium Reflects Optimism:**

Manba Finance’s shares are currently trading at a premium of over 48% in the grey market, an unofficial platform for pre-listing share trading. This indicates a strong investor belief in the company’s future prospects and potential for growth.

**Allotment and Listing:**

The allotment of shares is scheduled to be finalized today, September 26, by the registrar, Link Intime India. Investors can check their allotment status on the registrar’s website. The company is expected to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on October 3.

**Focus on Retail and Self-Employed Borrowers:**

Manba Finance caters to employees and self-employed individuals, offering financial solutions like two-wheeler, three-wheeler, electric vehicle, used car, small business and personal loans. The company tailors its products to meet the specific needs of each customer segment.

**Positive Outlook:**

Analysts view the IPO as a positive development for Manba Finance, as it will bolster its capital base and fuel future growth. The company’s strong focus on a growing market segment, coupled with the positive investor response, suggests a bright future for the NBFC.

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