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Manba Finance Limited IPO, GMP, Details, Price, And Review
Manba Finance Limited is an NBFC-BL providing financial solutions for New 2Ws, 3Ws, EV2Ws, EV3Ws, Used Cars, Small Business Loans and Personal Loans with an AUM size of more than ₹ 80,000 lakhs as of December 31, 2023. About 99% of their loan portfolio comprises New Vehicle Loans with an average ticket size (ATS) of around ₹ 0.80 lakhs.
The company provides financial solutions to their target customers who are looking for a quick turnaround time (TAT) for loan sanction and disbursement. MFL is based out of Mumbai, Maharashtra and operates out of 65 Locations connected to 28 branches across five (5) states in western, central and north India. The company has established deep and long-term relationships with more than 850 Dealers, including more than 60 EV Dealers, across Maharashtra, Gujarat, Rajasthan, Chhattisgarh and Madhya Pradesh. They have recently expanded their loan portfolio to Used Car Loans, Small Business Loans and Personal Loans and intend to leverage their existing network to further penetrate the market with the new products.
Manba Finance IPO Overview:
- Total Issue Size: ₹150.84 crores
- Issue Type: Book-built issue
- Number of Shares: 1.26 crore shares
- Price Band: ₹114 to ₹120 per share
- Minimum Lot Size: 125 shares
- IPO Opening Date: September 23, 2024
- IPO Closing Date: September 25, 2024
- Key Participants:
- Book Running Lead Manager: Hem Securities Limited
- Registrar: Link Intime India Private Ltd
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Manba Finance Limited IPO, GMP, Details, Price, And Review GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-09-30 | 120 | 33 (27.50%) | 2024-09-30 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Manba Finance Limited IPO, GMP, Details, Price, And Review Details
| Detail | Description |
|---|---|
| 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 |
| Shareholding pre issue | 37,669,410 |
| Shareholding post issue | 50,239,410 |
Manba Finance Limited IPO, GMP, Details, Price, And Review Timeline
| Detail | Description |
|---|---|
| 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, GMP, Details, Price, And Review 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, GMP, Details, Price, And Review Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 100% | - |
Manba Finance IPO Anchor Investors Details
| 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 |
Company & Financials
Established in 1998, Manba Finance Limited is a non-banking finance company (NBFC-BL) offering financial solutions for new two-wheelers (2Ws), three-wheelers (3Ws), electric two-wheelers (EV2Ws), electric three-wheelers (EV3Ws), used cars, small business loans and personal loans.
- The company's target customers are mainly:
- Employees
- The self-employed
The Company tailors its offerings to each of these customer categories and creates customized programs. The Company typically finances up to 85% of the purchase price (on-road price) of the vehicle the customer wishes to purchase and prefers the customer to contribute the balance.
The company has branches in urban, semi-urban and metropolitan cities and towns serving the surrounding rural areas. 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.
Competitive Strength:
- -
Manba Finance Limited IPO, GMP, Details, Price, And Review Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 973.75 | 191.63 | 31.42 | 200.61 | - | 752.27 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 787.25 | 133.32 | 16.58 | 168.43 | - | 595.93 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 561.46 | 106.62 | 9.74 | 151.74 | - | 394.4 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 21.36% |
| Debt/Equity | 3.75 |
| RoNW | 15.66% |
| P/BV | 2.25 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.34 | 6.25 |
| P/E (x) | 14.39 | 19.19 |
Objectives of Manba Finance IPO
The Company proposes to utilize the Net Proceeds towards augmenting the capital base to meet the Company’s future capital requirements.
Manba Finance IPO Review
The company is one of the leading financiers for two and three-wheelers and has expanded its services to used cars, personal loans, small business loans etc. Its top and bottom lines marked steady growth for the reported periods. Based on FY24 earnings, the issue relatively appears fully priced. Investors may park funds for the long term.
RHP:
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Frequently Asked Questions (FAQs)
-
What is Manba Finance IPO?
Manba Finance IPO is a main-board IPO. The company is going to raise ₹150.84 Crores via IPO. The issue is priced at ₹114 to ₹120 per equity share. The IPO is to be listed on BSE & NSE.
-
When will the Manba Finance IPO open for subscription?
The IPO is to open on September 23, 2024 for QIB, NII, and Retail Investors. The IPO will close on September 25, 2024.
-
What is Manba Finance IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Manba Finance IPO Issue Size?
Manba Finance IPO issue size is ₹150.84 crores.
