Manba Finance Limited IPO Opens On September 23. Check IPO Details Issue Date Price

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Manba Finance Limited IPO Opens On September 23. Check IPO Details Issue Date Price

September 20, 2024
Manba Finance Limited IPO Opens On September 23. Check IPO Details Issue Date Price

 Manba Finance Limited is coming out with an initial public offer to raise Rs. 150.84 crores from the market.

Below are the details of the Manba Finance Limited IPO:

  • Issue opens – September 23 (Monday)
  • Issue closes – September 25 (Wednesday)
  • Issue size – Rs. 150.84 crores
  • Price band – Rs. 114 to 120 per equity share
  • Bid lot – 125 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Manba Finance Limited is a Non-Banking Financial Company-Base Layer (NBFC-BL) providing financial solutions for New two wheeler (2Ws,) three wheeler (3Ws), electric two wheeler (EV2Ws), electric three wheeler (EV3Ws), Used Cars, Small Business Loans and Personal Loans with an AUM size of more than ? 90,000 lakhs as on March 31, 2024. About 97.90% of their loan portfolio comprises of New Vehicle Loans with an average ticket size (ATS) of around ? 80,000 for two-wheeler loans and an average ticket size (ATS) of around ? 1,40,000 for three-wheeler loans.
  • They provide financial solutions to their target customers who are looking for a quick turnaround time (TAT) for loan sanction and disbursement. They are based out of Mumbai, Maharashtra and operate out of 66 Locations connected to 29 branches across six (6) states in western, central and north India. They have established relationships with more than 1,100 Dealers, including more than 190 EV Dealers, across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh. They have recently expanded their loan portfolio to Used Car Loans, Small Business Loans and Personal Loans and they intend to leverage their existing network to further penetrate the market with their new products.
  • Their target customers are mainly (i) salaried; and (ii) self-employed. They customise their offerings as per each of these categories of customers and prepare tailor-made schemes to attract them to avail loans from them. They normally fund upto 85% of the purchase price (on road price) of the vehicle proposed to be acquired by the customer and prefer the customer to contribute the balance. They secure their funding from diversified sources including term loans and cash credit facilities from public sector banks, private sector banks, small finance banks & other financial institutions and PTC and issuance of privately placed listed and unlisted NCDs to meet their capital requirements.

Issue Size : Rs. 150.84 Cr


Issue break-up :

QIB – 50 % of the net offer – Rs. 75.42 Cr.
NIB – 15 % of the net offer – Rs. 22.63 Cr.
RET – 35 % of the net offer – Rs. 52.79 Cr.

Listing : BSE & NSE

Registrar : Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Wednesday, September 25th, 2024.

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