The initial public offering (IPO) of Manba Finance will open for bidding on Monday, September 23. The company shall be offering its shares in the range of Rs 114-120 apiece. Investors can apply for a minimum of 125 equity shares and its multiples thereafter until Wednesday, September 25.
Established in 1998, Manba Finance is a non-banking finance company (NBFC) 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 IPO of Manba Finance is entirely a fresh share sale of 1,25,70,000 equity shares amounting to Rs 150.84 crore. The net proceeds from the issue shall be utilized towards augmenting the capital base to meet the Company’s future capital requirements. Anchor book for the issue opens on Friday, September 20.
The company's target customers are mainly employees and self-employed individuals. It tailors its offerings to each of these customer categories and creates customized programs. It typically finances up to 85 per cent of the purchase price of the vehicle the customer wishes to purchase and prefers the customer to contribute the balance.
Manba Finance 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.
The company has reserved 50 per cent of the shares for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) have a reservation of 15 per cent of the equity shares. Retail investors have a reservation of 35 per cent portion allocated to them in the IPO.
Manba Finance reported a net profit of Rs 31.42 crore with a revenue of Rs 191.63 crore for the financial year 2024. The company reported a net profit of Rs 16.58 crore with a revenue of Rs 133.32 crore for the year ended March 2023. The total market capitalization of Manba Finance IPO is Rs 602.87 crore.
Hem Securities is the book running lead manager of the Manba Finance IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with Monday, September 30 as the tentative date of listing on the bourses.