The Manba Finance IPO is a book-built issue worth ₹150.84 crores, consisting entirely of a fresh issue of 1.26 crore shares.
The IPO opens for subscription on September 23, 2024, and closes on September 25, 2024. Allotments for the Manba Finance IPO are expected to be finalized on Thursday, September 26, 2024. The shares will be listed on the BSE and NSE, with a tentative listing date set for Monday, September 30, 2024.
The price band for the Manba Finance IPO is established at ₹114 to ₹120 per share. The minimum application lot size is 125 shares, requiring a minimum investment of ₹15,000 for retail investors. For small and medium investors (sNII), the minimum investment is 14 lots (1,750 shares), totaling ₹210,000, while for big institutional investors (bNII), it is 67 lots (8,375 shares), amounting to ₹1,005,000.
Hem Securities Limited serves as the book-running lead manager for the Manba Finance IPO, and Link Intime India Private Ltd acts as the registrar for the offering.
Below are the details of Manba Finance Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Manba Finance Limited 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 Limited IPO Timeline
| 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 Limited IPO Lot Size
| 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 |
Manba Finance Limited 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 Limited IPO Anchor Investor
| Bid Date | September 20, 2024 |
| Shares Offered | 3,771,000 |
| Anchor Portion Size (In Cr.) | 45.25 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 25, 2024 |
Manba Finance Limited IPO Financial Information
| 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 | ||||||||||||||||||||||||||||||
Manba Finance Limited IPO Review
Manba Finance Ltd. (MFL) is a Non-Banking Financial Company (NBFC) based in Mumbai, specializing in financial solutions for new and used two-wheelers, three-wheelers, electric vehicles, small business loans, and personal loans, with assets under management exceeding ₹900 crores as of March 31, 2024. Approximately 97.90% of its loan portfolio consists of new vehicle loans, and the company operates across 66 locations in six states, partnering with over 1,100 dealers. MFL targets salaried and self-employed customers, funding up to 85% of vehicle costs to promote financial discipline.
The company has recently expanded its offerings and secures funding through various sources, including term loans and non-convertible debentures. MFL is launching its IPO, consisting of 12,570,000 fresh equity shares priced between ₹114 and ₹120, opening for subscription from September 23 to September 25, 2024.
Over the last three fiscal years, MFL has demonstrated steady growth, with total income rising from ₹106.62 crores in FY22 to ₹191.63 crores in FY24. Despite having no dividends declared in recent years, the company adopted a dividend policy in January 2024. With a fully priced IPO based on FY24 earnings and a strong market position, MFL presents potential long-term investment opportunities for investors.