Manba Finance Limited IPO (Manba Finance IPO) Detail
Manba Finance IPO: The public issue of non-banking finance company Manba Finance is going to open on 23 September. Before the IPO, the company raised Rs. 45.25 crore from 8 institutional investors on 20 September. Chartered Finance and Leasing was the largest investor in the anchor book and bought 8.33 lakh shares for Rs. 10 crore. The remaining 7 investors were FinAvenue Capital Trust, Antara India Evergreen Fund, Belgrave Investment Fund, Meru Investment Fund, NAV Capital VCC, Rajasthan Global Securities, and Vikas India EIF I Fund. Each of them bought 4.2 lakh shares.
The company told the stock markets that the allocation of 37.71 lakh shares to anchor investors has been finalized at a price of Rs. 120 per share. Manba Finance wants to raise Rs 150.84 crore from its IPO.
Price band and lot size of Manba Finance IPO
The price band for bidding has been kept at Rs. 114-120 per share and the lot size is 125 shares. The issue will close on September 25. 1.26 crore new shares will be issued in the IPO. After closing, the shares will be listed on BSE, and NSE on September 30. The book-running lead manager for Manba Finance IPO is Hem Securities. The registrar is Link Intime India Private Ltd.
Manba Finance IPO Details
| IPO Date | September 23, 2024 to September 25, 2024 |
| Listing Date | [.] |
| 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 |
| Share holding pre issue | 37,669,410 |
| Share holding post issue | 50,239,410 |
Manba Finance 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 |
Manba Finance IPO Timeline (Tentative Schedule)
Manba Finance IPO opens on September 23, 2024, and closes on September 25, 2024.
| IPO Open Date | Monday, September 23, 2024 |
| IPO Close Date | Wednesday, September 25, 2024 |
| Basis of Allotment | Thursday, September 26, 2024 |
| Initiation of Refunds | Thursday, September 26, 2024 |
| 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 |
Manba Finance IPO Lot Size
Investors can bid for a minimum of 125 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
Company Financials
Manba Finance Limited’s revenue increased by 44% and profit after tax (PAT) rose by 90% between the financial year ending with March 31, 2024 and March 31, 2023.
| 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 | ||||||||||||||||||||||||||||||
What kind of offerings does the company OFFER
The company offers small business loans and personal loans along with financial solutions for new two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, and used cars. The corporate promoters of Manba Finance are 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).
Manba Finance’s revenue grew 44 percent to Rs. 191.63 crore in FY24 from Rs. 133.32 crore a year ago. Net profit jumped 90 percent to Rs. 31.42 crore from Rs. 16.58 crore in FY23.
At what price can the share be listed
In the gray market, Manba Finance’s share is trading at a premium of Rs. 60 or 50 percent over the IPO’s upper price band of Rs. 120. On this basis, the share can be listed at a price of Rs. 180. The gray market is an unauthorized market, where the shares of a company trade till its listing.
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(Disclaimer: The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. BseNseIPO never advises anyone to invest money here.)
