IPO fever is once again going to take over the investors. Just like Bajaj Housing Finance, another company is going to enter the IPO market. In such a situation, those investors who did not get a chance in the previous IPOs will get a chance to try their luck.
Business Model
The name of the company is Manba Finance, which is associated with the business of NBFC. The company provides financial services like auto loan, loan for second hand cars, loan for small business, personal loan. Currently, the company is operational at 66 locations in 6 states of the country. Which includes Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh.
AUM
The company’s assets under management (AUM) increased to ₹ 936 crore in FY 2024 from ₹ 495 crore in FY 2022, showing a compound annual growth rate (CAGR) of 37.5%. The company’s profit grew 89.5% to ₹ 31.41 crore in FY 2024 from ₹ 16.58 crore in the previous year, while revenue grew 44% to ₹ 191.58 crore.
Information related to IPO
NBFC company Manba Finance has fixed a price band of Rs 114-120 per share for its Rs 151 crore IPO. Bidding for the IPO will start from September 23, while it will close on September 25. The anchor book will open on September 20. According to media reports, the listing date is September 30, although it has not been officially confirmed. Through this entire process, the company will raise Rs 150 crore. Manba Finance’s IPO will be a completely fresh issue of Rs 1.26 crore, there will be no offer for sale in it.
Promoters’ stake
Promoters currently hold 100 per cent stake in Maharashtra-based Manba Finance. The company will use the funds to meet future capital requirements, lending and for general corporate purposes.
How many shares for whom?
The share allotment is reserved for 50% qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors. Investors can bid for a minimum of 125 shares, followed by bids in multiples of 125 shares.