Posted in: Legal/Finance in Uttar Pradesh | Posted: |
Manba Finance Ltd., established in 1998, is launching its Mainboard IPO worth Rs. 150.84 crore. The company is a non-banking financial institution (NBFC) specializing in loans for small businesses, personal loans, and financing for electric vehicles, both two-wheelers and three-wheelers, as well as new and used two-wheelers.
Manba Finance ipo primarily targets workers and independent contractors, offering tailored financing options. The company typically finances up to 85% of a vehicle’s on-road price. With over 1,100 dealer partnerships, including 190 EV dealers, Manba operates in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.
Manba Finance IPO Details:
IPO Size: Rs. 150.84 crore
Shares Offered: 1.26 crore shares
Issue Type: Book Built
Price Band: Rs. 114 - Rs. 120 per share
IPO Dates: September 23 – September 25, 2024
Listing Date: September 30, 2024 (BSE, NSE)
The IPO allocation includes 35% for retail investors, 50% for institutional investors, and 15% for non-institutional investors.
Financial Performance (FY 2024):
Total Assets: Rs. 973.75 crore
Revenue: Rs. 191.63 crore
PAT: Rs. 31.42 crore
Manba Finance has shown steady growth, with revenue increasing by 44% and profit after tax (PAT) rising by 90% compared to the previous fiscal year.
IPO Objectives: The proceeds will be used to meet the company’s capital needs and for future expansion.
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