IPO

Manba Finance Limited IPO

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Non Banking Financial Company (NBFC)

Listed On: Sep 30, 2024 at ₹ 145.0(NSE)

₹ 15000 /125 Shares

Check Allotment

23 Sep, 2024

Open Date

25 Sep, 2024

Close Date

26 Sep, 2024

Allotment Date

30 Sep, 2024

Listing Date
Price Summary

Last Closing

133.15 (10.96%)

52 Week High

199.80

52 Week Low

119.00

Last Update

17-Oct-2025 3:30 PM
Manba Finance IPO Issue Details
  • Issue Price ₹114-120 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 1,25,70,000 shares(aggregating up to ₹150.84 crore)
  • Fresh Share 1,25,70,000 shares(aggregating up to ₹150.84 crore)
  • Listing at BSE, NSE
  • List Price 145.0(NSE)
  • Listing Date 2024-09-30
  • Lead Manager Hem Securities Limited
  • Registrar Link Intime India Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 125 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)1125₹15,000
Retail(max)131625₹1,95,000
Manba Finance IPO Reservation

Manba Finance IPO offers total 1,25,70,000 shares. Out of which 25,14,000 (20%) allocated to QIB, 18,85,500 (15%) allocated to NII,43,99,500 (35%) allocated to RII, NA (NA%) allocated to employees and 37,71,000 (30%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered37,71,000 (30%)
QIB Shares Offered25,14,000 (20%)
NII (HNI) Shares Offered18,85,500 (15%)
bNII < ₹10L12,57,000 (10%)
sNII < ₹10L6,28,500 (5%)
Retail Shares Offered43,99,500 (35%)
Total Shares Offered1,25,70,000 (100%)
Manba Finance IPO Documents
DRHP
RHP
ANCHOR
Manba Finance IPO Details


Manba Finance IPO is a book-built issue of ₹150.84 crores, The total issue size is ₹150.84 crores. The IPO of Manba Finance is priced at ₹114-120 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Sep 23, 2024 and ends on Sep 25, 2024. The allotment for Manba Finance IPO will be finalized on Sep 26, 2024. Manba Finance IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 30, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Pvt Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 125 shares, extendable to 15,000. The book-running lead manager for the IPO is/are Hem Securities Limited.

The total issue ₹150.84 crore, comprising a fresh issue of 1,25,70,000 shares ₹150.84 crore
The Manba Finance IPO sets its price band at 114-120 for each share. A single application for Manba Finance Limited IPO must contain at least 125 shares. Sentiment investors need to invest a minimum of 125 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹15,000

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Manba Finance IPO Subscription Analysis And Details
Retail
130.10x
QIB
148.55x
NII
506.21x
bNII
546.56x
sNII
425.49x
Total
215.96x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved2,514,0001,885,500
1,257,000    628,500		4,399,5008,799,000
Day 1 23-09-24 05:00 PM
2.36 x43.18
37.52 x   54.51 x		27.71 x23.79 x
Day 2 24-09-24 05:00 PM
4.15 x172.26
166.85 x   183.08 x		70.26 x73.23 x
Day 3 25-09-24 05:00 PM
148.55 x506.21
546.56 x   425.49 x		130.10 x215.96 x
Total No of Applications
43,33,200
Subscription on the basis of Applications
Retail:116.64x BHNI:107.89x SHNI:419.76x
Manba Finance Valuations
EPS Pre IPO 8.34
EPS Post IPO 6.25
P/E Pre IPO 14.39
P/E Post IPO 19.19
ROE 21.36%
ROCE 19.39%
Debt/Equity 3.75
RoNW 15.66%
Price to Book Value 2.25
Manba Finance Company Financials
In Crs.
In Cr.
31-Mar-2431-Mar-2331-Mar-22
Assets973.75787.25561.46
Revenue191.63133.32106.62
Profit After Tax31.4216.589.74
Net Worth200.61168.43151.74
Reserves & Surplus162.46155.54138.96
Total Borrowing752.27595.93394.4
About Manba Finance Company

Manba Finance Limited is a Non-Banking Financial Company (NBFC) specialising in financing solutions for various needs such as new 2-wheelers, 3-wheelers, electric vehicles (2-wheelers and 3-wheelers), used cars, small business loans, and personal loans. With an Asset Under Management (AUM) exceeding ₹80,000 lakh as of December 31, 2023, they primarily focus on new vehicle loans, which constitute about 99% of its loan portfolio, with an average ticket size of ~₹0.80 lakh.

Headquartered in Mumbai, Maharashtra, Manba Finance operates across 65 locations connected to 28 branches in 5 states in western, central, and north India. They have built strong relationships with over 850 dealers, including more than 60 electric vehicle dealers, across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, and Madhya Pradesh.

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Manba Finance - Promoter(s)

Manba Investments and Securities Private Limited, Avalon Advisory and Consultant Services Private Limited, Manba Fincorp Private Limited, Manba Infotech LLP and Manish Kiritkumar Shah (HUF).

Pre Issue Share Holding : 100%

Post Issue Share Holding : 74.98%

Manba Finance IPO - Issue Objectives
1

The Company proposes to utilize the Net Proceeds towards augmenting the capital base to meet the Company’s future capital requirements.

Manba Finance IPO - Anchor Investors

Manba Finance raises over Rs 45 crore from anchor investors.

Chartered Finance & Leasing is the biggest investor in the anchor book, buying 8.33 lakh equity shares worth Rs 10 crore.

Other seven investors - Finavenue Capital Trust, Antara India Evergreen Fund, Belgrave Investment Fund, Meru Investment Fund, NAV Capital VCC, Rajasthan Global Securities, and Vikas India EIF I Fund picked 4.2 lakh shares each.

Manba Finance IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Manba Finance Limited8.34N/A53.26N/A15.662.26Consolidated
Baid Finserv Limited1.08N/A13.8913.657.75N/AConsolidated
Arman Financial Services Ltd.195N/A775.78.5721.36N/AConsolidated
Mas Financial Services Ltd15.31N/A108.7118.1314.25N/AConsolidated

Notes:

  1. The P/E Ratio has been computed based on the closing market price of equity shares on August 22, 2024, divided by the Basic EPS.
  2. Return on Net Worth (%) = Net profit after tax, as restated / Average Net worth as restated as at year-end.
  3. Net worth has been computed as sum of paid-up share capital and other equity.
  4. NAV is computed as the closing net worth divided by the closing outstanding weighted average number of equity shares.
Strength
Established dealer network with over 1,100 dealers across six states.
Technology-driven operations ensure quick loan processing and disbursement.
Experienced promoters with deep industry knowledge driving consistent growth.
Weakness
High dependence on dealers; 89.13% of loans are sourced through them.
Credit rating downgrades could increase borrowing costs significantly.
Contact Details

Manba Finance

324, Runwal Heights Commercial Complex, L.B.S Marg, Opp. Nirmal Lifestyle, Mulund (West), Mumbai - 400 080

+91 22 6234 6598

investorrelation@manbafinance.com

http://www.manbafinance.com/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

manbafinanceipo@linkintime.co.in

https://linkintime.co.in/initial_offer/public-issues.html