Manba Finance Limited IPO
Manba Finance Limited is launching an initial public offering (IPO) of ₹150.84 crores, consisting of 1.26 crore fresh equity shares. The IPO will open for subscription from September 23-25, 2024, with shares priced between ₹114-120. The company provides financial solutions for two-wheelers, three-wheelers, electric vehicles, used cars, small business loans and personal loans. The IPO aims to augment the company's capital base to meet future requirements.
R5
by RA ALOK DAIYA SEBI Reg. INH000011468, BSE Enlistment No. 5737
IPO Details and Schedule
1
IPO Opening
September 23, 2024
2
IPO Closing
September 25, 2024
3
Allotment Finalization
September 26, 2024
4
Listing on BSE & NSE
September 30, 2024
Manba Finance IPO is a book built issue of Rs 150.84 crores. The issue is entirely a fresh issue of 1.26 crore shares.
Manba Finance IPO price band is set at ₹114 to ₹120 per share. The minimum lot size for an application is 125 Shares. The minimum amount of investment required by retail investors is ₹15,000.
Hem Securities Limited is the book running lead manager of the Manba Finance IPO
IPO Reservation and Anchor Investors
1
IPO Reservation
Manba Finance IPO offers 1,25,70,000 shares. 25,14,000 (20%) to QIB, 18,85,500 (15%) to NII, 43,99,500 (35%) to RII and 37,71,000 (30%) to Anchor investors.
2
Anchor Investors
Manba Finance IPO raises Rs 45.25 crore from anchor investors. Manba Finance IPO Anchor bid date is September 20, 2024.
3
Anchor Lock-in Period
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.
About Manba Finance Limited
Established in 1998
Manba Finance Limited is a non-banking finance company (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.
Target Customers
The company's target customers are mainly employees and the self-employed. The Company tailors its offerings to each of these customer categories and creates customized programs.
Financing Options
The Company typically finances up to 85% of the purchase price (on-road price) of the vehicle the customer wishes to purchase.
Branch Network
The company has branches in urban, semi-urban and metropolitan cities and towns serving the surrounding rural areas.
Dealer Relationships
The company has established relationships with more than 1,100 dealers, including more than 190 EV dealers in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh.
Employees
As of March 31, 2024, the company employed a total of 1,344 people.
Company Financials and Key Performance Indicators
Amount in ₹ Crore
The market capitalization of Manba Finance IPO is Rs 602.87 Cr.
KPI as of March 31, 2024:
- ROE: 21.36%
- Debt/Equity: 3.75
- RoNW: 15.66%
- P/BV: 2.25
IPO Review
OPT OR NOT?
The company is one of the leading financier for two and three wheeler and has expanded its services for used cars, personal loans, small business loans etc. It marked steady growth in its top and bottom lines for the reported periods. Based on FY24 book value, the current issue is priced at a P/BV of 2.3 times , indicating a fair valuation. With its strategic focus on customer satisfaction and innovative products, Manba Finance is well-equipped to meet evolving market needs. Investors may park funds for medium to long term.