Get App
Manba Finance IPO is a book-built issue of Rs 150.84 crores. The issue is entirely a fresh issue of 1.26 crore shares.
Manba Finance IPO opens for subscription on September 23, 2024, and closes on September 25, 2024. The IPO price band is set at ₹114 to ₹120 per share and the minimum lot size for an application is 125 Shares.
Company Summary
Established in 1998, Manba Finance Limited is a non-banking finance company (NBFC-BL) offering financial solutions for new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), electric three-wheelers (EV3Ws), used cars, small business loans, and personal loans.
The company’s target customers are mainly (i) employees and (ii) the self-employed. The Company tailors its offerings to each of these customer categories and creates customized programs. The Company typically finances up to 85% of the purchase price (on-road price) of the vehicle the customer wishes to purchase and prefers the customer to contribute the balance.
The company has branches in urban, semi-urban, and metropolitan cities and towns serving the surrounding rural areas. The company has established relationships with more than 1,100 dealers, including more than 190 EV dealers in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.
As of March 31, 2024, the company employed a total of 1,344 people.
Company Financials
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 973.75 | 787.25 | 561.46 |
| Revenue | 191.63 | 133.32 | 106.62 |
| Profit After Tax | 31.42 | 16.58 | 9.74 |
| Net Worth | 200.61 | 168.43 | 151.74 |
| Reserves and Surplus | 162.46 | 155.54 | 138.96 |
| Total Borrowing | 752.27 | 595.93 | 394.4 |
Amount in ₹ Crore | |||
Objectives of the IPO
1. The Company proposes to utilize the Net Proceeds towards augmenting its capital base to meet the Company’s future capital requirements.
2. Further, the Company expects to receive the benefits of listing the Equity Shares on the Stock Exchanges, enhancement of the Company’s brand name, and creation of a public market for their Equity Shares in India.
Promoters of the company
The Promoters of the Company are Manish Kiritkumar Shah, Nikita Manish Shah, Monil Manish Shah, Manba Investments and Securities Private Limited, Avalon Advisory and Consultant Services Private Limited, Manba Fincorp Private Limited, Manba Infotech LLP and Manish Kiritkumar Shah (HUF).
The Promoters, in aggregate, hold 3,76,64,010 Equity Shares in the Company, representing 99.99% of the pre-Issue issued, subscribed, and paid-up Equity Share capital of our Company.
IPO details
| IPO Date | September 23, 2024 to September 25, 2024 |
| Listing Date | Monday, September 30, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹114 to ₹120 per share |
| Lot Size | 125 Shares |
| Total Issue Size | 12,570,000 shares (aggregating up to ₹150.84 Cr) |
| Fresh Issue | 12,570,000 shares (aggregating up to ₹150.84 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1625 | ₹195,000 |
| S-HNI (Min) | 14 | 1,750 | ₹210,000 |
| S-HNI (Max) | 66 | 8,250 | ₹990,000 |
| B-HNI (Min) | 67 | 8,375 | ₹1,005,000 |
Allotment Schedule
| Basis of Allotment | Thursday, September 26, 2024 |
| Initiation of Refunds | Thursday, September 26, 2024 |
| The credit of Shares to Demat | Friday, September 27, 2024 |
| Listing Date | Monday, September 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
To check allotment, click here