IBL Finance was incorporated on August 3, 2017. The company commenced its lending business to self-employed professionals and small business entrepreneurs during the financial year ending March 31, 2019. Subsequently, from FY20, it transitioned to a fintech-based financial services platform. As a technology-driven fintech company, it leverages technology and data science to make lending quick and easy. The company, through its mobile app, provides instant personal loans with a process that is almost 100% digital.
| Bidding Dates |
|---|
| 09 Jan 2024 - 11 Jan 2024 |
| Subscription |
|---|
| 16.18x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,02,000 | 1 | 1 | 2000 | 6.5 M | ₹51 | 62.89 % | ₹334.1 M | RHP DOC |
IBL Finance IPO SUBSCRIPTION STATUS
11 Jan '24IBL Finance IPO overall subscription rate was 16.18 times the total available shares
IBL Finance IPO retail subscription rate was 22.82 times in the retail segment
IBL Finance IPO non-institutional investor subscription rate was 9.55 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
11 Jan 2024 (Day 3) | 22.82x | 9.55x | - |
10 Jan 2024 (Day 2) | 13.02x | 2.93x | - |
09 Jan 2024 (Day 1) | 6.68x | 1.38x | - |
IBL Finance FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 4MFY24 | 12.1 | 49.3 | 3.2 | -4.2 | 38.8% |
| FY23 | 19.3 | 133.1 | -89.4 | -89.9 | 30.0% |
| FY22 | 4.3 | 32.7 | -56.4 | -56.7 | 21.4% |
| FY21 | -1.0 | 11.3 | -8.1 | -8.3 | -2.2% |
IBL Finance IPO SUBSCRIPTION STATUS DETAILS
IBL Finance had 6.5 M shares on offer
IBL Finance IPO offer price was ₹51
IBL Finance IPO minimum Investment was ₹102000
IBL Finance IPO issue size was ₹ 334.0 M
IBL Finance had a minimum lot size of 2000 Shares per application
IBL Finance NUMBER OF SHARES ON OFFER
IBL Finance IPO IMPORTANT DATES
| Issue Open Date | 09 Jan 2024 |
| Issue close Date | 11 Jan 2024 |
| Allotment Date | 12 Jan 2024 |
| Refund Date | 15 Jan 2024 |
| Demat Account Credit Date | 15 Jan 2024 |
| Listing Date | 16 Jan 2024 |
| Listing on Exchange(s) | NSE |
| IBL Finance Allotment Status | Exchange |
IBL Finance IPO subscription opened on 09 Jan 2024, and closed on 11 Jan 2024
IPO allotment for IBL Finance was finalized on Friday, 12 Jan 2024
IPO listing for IBL Finance was on NSE on Tuesday, 16 Jan 2024
IBL Finance IPO LISTING GAINS
| Issue Price (adjusted) | 51.0 |
| Listing Open Price | 56.0 |
| Listing Close Price | 58.8 |
| Listing Gain% | 9.8% |
| Current Gain% | 19.6% |
IBL Finance Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IBL Finance Ltd. | 61 | 150.9 | 61.8 | 17.2 | 8.7 | 4 | 1.9 | 17.3 | 32.7 | 2.4 | 3.6 | 1 | 3.6 |
| Bajaj Finance Ltd. | 1078 | 671157.9 | 33.1 | 2 | 7.8 | 16.7 | 3.4 | 81989.5 | 17.6 | 19017.4 | 14.3 | 32.6 | 16.5 |
| Shriram Finance Ltd. | 1115 | 262353.7 | 23.2 | 1.4 | 5.2 | 15.2 | 3.1 | 48192.6 | 15.1 | 10024.2 | 4.9 | 48.1 | 16.8 |
| Jio Financial Services Ltd. | 256.8 | 169568.7 | 82.1 | 3 | 34.6 | 1.2 | 1 | 3542.6 | 70.4 | 1560.9 | -3.2 | 3.1 | 27.2 |
| Cholamandalam Investment & Finance Company Ltd. | 1866.2 | 157282.2 | 27.3 | 0.9 | 4.8 | 17.2 | 2.1 | 31538.7 | 20.6 | 5232.6 | 22.8 | 68.2 | 29.1 |
| Tata Capital Ltd. | 370.3 | 157187.5 | 29.1 | 1 | 4.8 | 10.8 | 1.7 | 31582.6 | 11.3 | 4846.1 | 32.2 | 12.7 | 28.9 |
IBL Finance INFORMATION ON IPO ISSUE
About IBL Finance
IBL Finance was incorporated on August 3, 2017. The company commenced its lending business to self-employed professionals and small business entrepreneurs during the financial year ending March 31, 2019. Subsequently, from FY20, it transitioned to a fintech-based financial services platform. As a technology-driven fintech company, it leverages technology and data science to make lending quick and easy. The company, through its mobile app, provides instant personal loans with a process that is almost 100% digital.
Object of the Issue
- Augmenting the company’s tier–I capital base to meet its future capital requirements, arising out of the growth of the business and asset
- General corporate purposes
IBL Finance - PROMOTERS
| Name |
|---|
| Manish Patel |
| Piyush Patel |
| Mansukhbhai Patel |
IBL Finance Lead Manager to the Issue
Fedex Securities Private Limited
mb@fedsec.in
IBL Finance Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
IBL Finance Strengths
Mobile-first approach
The mobile-first approach enables the company to cater to digitally connected Indians, avoid intermediation, and reach customers directly in tier-1 cities and beyond. This approach also offers an unassisted buying journey with one of the lowest turnaround times
Data science-driven
The company has successfully built advanced data science-driven underwriting algorithms. These algorithms help in aggregating data from different mediums and generating a credit report with over 500 data points available
Improved financial performance
The company's revenue from operations for FY23, FY22, and FY21 was Rs 13.3 crore, Rs 3.3 crore, and Rs 1.1 crore, respectively. Its profit for FY23, FY22, and FY21 was Rs 1.9 crore, Rs 0.4 crore, and Rs (0.1) crore, respectively
IBL Finance Risks
Legal proceedings
The company, its directors, promoters, and group companies are subject to certain legal proceedings, and any adverse decision in such proceedings may affect the business
Unsecured advances
The company's loan book comprises unsecured loans. Its inability to recover the amounts due from customers in connection with such loans in a timely manner could adversely affect its operations and profitability
Increasing competition
The company faces increasing competition in its business, which may result in declining margins if it is unable to compete effectively
IPO FAQs
The promoters of the company are Manish Patel, Piyush Patel and Mansukhbhai Patel.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 51.0 - 51.0.
The IPO application opens on Jan 09, 2024 and closes on Jan 11, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 102,000.0, the maximum value for this IPO is Rs 102,000.0.
This IPO will be allotted on Jan 12, 2024.
The refund will be credited to your account on Jan 15, 2024.
The allotted shares will be credited to your demat on Jan 15, 2024.
IBL Finance Ltd.’s shares listed on the stock exchanges on Jan 16, 2024.