Manba Finance was incorporated on May 31, 1996. It is non-banking financial company-base layer (NBFC-BL) offering financial solutions for new two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, used cars, small business loans, and personal loans.
| Bidding Dates |
|---|
| 23 Sep 2024 - 25 Sep 2024 |
| Subscription |
|---|
| 224.1x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,250 | 1 | 13 | 125 | 12.6 M | ₹114 - ₹120 | 74.98 % | ₹1433.0 M - ₹1508.4 M | RHP DOC |
Manba Finance Ltd. IPO SUBSCRIPTION STATUS
25 Sep '24Manba Finance Ltd. IPO overall subscription rate was 224.1 times the total available shares
Manba Finance Ltd. IPO retail subscription rate was 144.03 times in the retail segment
Manba Finance Ltd. IPO non-institutional investor subscription rate was 511.65 times in the non-institutional investor category
Manba Finance Ltd. IPO Qualified Institutional Bidder subscription rate was 148.55 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
25 Sep 2024 (Day 3) | 144.03x | 511.65x | 148.55x |
24 Sep 2024 (Day 2) | 70.23x | 172.25x | 4.15x |
23 Sep 2024 (Day 1) | 27.65x | 43.16x | 2.36x |
Manba Finance Ltd. 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 |
| FY24 | 314.2 | 1,915.9 | -1,411.4 | -1,429.9 | 65.4% |
| FY23 | 165.8 | 1,333.2 | -1,240.3 | -1,246.7 | 62.9% |
| FY22 | 97.4 | 1,065.9 | 472.8 | 465.9 | 59.1% |
Manba Finance Ltd. IPO SUBSCRIPTION STATUS DETAILS
Manba Finance Ltd. had 12.6 M shares on offer
Manba Finance Ltd. IPO offer price was in the range ₹114 - ₹120
Manba Finance Ltd. IPO minimum Investment was ₹14250
Manba Finance Ltd. IPO issue size was ₹ 1433.0 M - ₹ 1508.4 M
Manba Finance Ltd. had a minimum lot size of 125 Shares per application
Manba Finance Ltd. NUMBER OF SHARES ON OFFER
Manba Finance Ltd. IPO IMPORTANT DATES
| Issue Open Date | 23 Sep 2024 |
| Issue close Date | 25 Sep 2024 |
| Allotment Date | 26 Sep 2024 |
| Refund Date | 26 Sep 2024 |
| Demat Account Credit Date | 27 Sep 2024 |
| Listing Date | 30 Sep 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Manba Finance Ltd. Allotment Status | Exchange |
Manba Finance Ltd. IPO subscription opened on 23 Sep 2024, and closed on 25 Sep 2024
IPO allotment for Manba Finance Ltd. was finalized on Thursday, 26 Sep 2024
IPO listing for Manba Finance Ltd. was on NSE and BSE on Monday, 30 Sep 2024
Manba Finance Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 120.0 |
| Listing Open Price | 145.0 |
| Listing Close Price | 157.4 |
| Listing Gain% | 20.8% |
| Current Gain% | 9.8% |
Manba Finance Ltd. 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Manba Finance Ltd. | 131.8 | 662 | 13.5 | 0.9 | 1.9 | 11.1 | 2.3 | 330.2 | 31.8 | 45.4 | 20 | 9.7 | 15.3 |
| 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 |
Manba Finance Ltd. IPO Reports
Manba Finance Ltd. INFORMATION ON IPO ISSUE
About Manba Finance Ltd.
Manba Finance was incorporated on May 31, 1996. It is non-banking financial company-base layer (NBFC-BL) offering financial solutions for new two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, used cars, small business loans, and personal loans.
Object of the Issue
- Augmenting its capital base to meet the company’s future capital requirements towards onward lending.
- General corporate purposes.
Manba Finance Ltd. - PROMOTERS
| Name |
|---|
| Manish Kiritkumar Shah |
| Nikita Manish Shah |
| Monil Manish Shah |
| Manba Investments and Securities Private Limited (“MISPL”) |
| Avalon Advisory and Consultant Services Private Limited |
Manba Finance Ltd. Book running lead manager
Hem Securities Limited
ib@hemsecurities.com
Manba Finance Ltd. Registrar to the issue
Link Intime India Private Limited
manbafinanceipo@linkintime.co.in
Manba Finance Ltd. Strengths
Geographically Diversified
The company scaled up operations from 2009 with vehicle financing and now operates in 66 locations across six states: Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh
Diversified funding access
The company has secured funding from diverse sources, including term loans and cash credit facilities from public sector banks, private sector banks, small finance banks, and other financial institutions. It also uses private placement of listed and unlisted NCDs to meet capital requirements
Technology driven
The company has established in-house systems and processes for sales, risk management, and collections, or uses licensed systems from reputable providers. This setup enhances monitoring, quality control, and reduces turnaround time for loan approvals, sanctions, and disbursements
Manba Finance Ltd. Risks
Huge concentration of loans
The company has a significant concentration of loans to salaried and self-employed individuals. The risk of non-payment or default by these borrowers could adversely affect its business, operations, and financial condition
High regulations
The company is subject to inspection by the Reserve Bank of India. Non-compliance with any observations from these inspections could result in penalties and restrictions
IPO FAQs
The promoters of the company are Manish Kiritkumar Shah, Nikita Manish Shah, Monil Manish Shah, Manba Investments and Securities Private Limited (“MISPL”) and Avalon Advisory and Consultant Services Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 114.0 - 120.0.
The IPO application opens on Sep 23, 2024 and closes on Sep 25, 2024.
The minimum lot size for the IPO is 125. The maximum lot size for the IPO is 1625.
For all category investors, the minimum application amount for this IPO is Rs. 14,250.0, the maximum value for this IPO is Rs 195,000.0.
This IPO will be allotted on Sep 26, 2024.
The refund will be credited to your account on Sep 26, 2024.
The allotted shares will be credited to your demat on Sep 27, 2024.
Manba Finance Ltd.’s shares listed on the stock exchanges on Sep 30, 2024.