Bookbuilding IPO | ₹151 Cr | Listed at BSE, NSE | Mon, Sep 23, 2024 - Wed, Sep 25, 2024
Manba Finance IPO is a book build issue of ₹150.84 crores. The issue is entirely a fresh issue of 1.26 crore shares of ₹150.84 crore.
Manba Finance IPO bidding started from Sep 23, 2024 and ended on Sep 25, 2024. The allotment for Manba Finance IPO was finalized on Sep 26, 2024. The shares got listed on BSE, NSE on Sep 30, 2024.
Manba Finance IPO price band is set at ₹120 per share. The lot size for an application is 125. The minimum amount of investment required by an retail is ₹15,000 (125 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,750 shares), amounting to ₹2,10,000, and for bNII, it is 67 lots (8,375 shares), amounting to ₹10,05,000.
Hem Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Manba Finance IPO RHP for detailed Information.
IPO Open
Mon, Sep 23, 2024
IPO Close
Wed, Sep 25, 2024
Issue Price
₹120 per share
Market Cap (Pre-IPO)
₹602.87 Cr
| IPO Date | 23 to 25 Sep, 2024 |
| Listed on | Mon, Sep 30, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹114 to ₹120 |
| Issue Price | ₹120 per share |
| Lot Size | 125 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,25,70,000 shares (agg. up to ₹151 Cr) |
| Fresh Issue | 1,25,70,000 shares (agg. up to ₹151 Cr) |
| Share Holding Pre Issue | 3,76,69,410 shares |
| Share Holding Post Issue | 5,02,39,410 shares |
| BSE Script Code / NSE Symbol | 544262 / MANBA |
| ISIN | INE939X01013 |
Manba Finance IPO offers total 1,25,70,000 shares. Out of which 62,85,000 (50.00%) allocated to QIB, 25,14,000 (20.00%) allocated to QIB (Ex- Anchor), 18,85,500 (15.00%) allocated to NII 43,99,500 (35.00%) allocated to RII and 37,71,000 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 62,85,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 37,71,000 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 25,14,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 18,85,500 (15.00%) | NA |
| − bNII > ₹10L | 12,57,000 (10.00%) | 718 |
| − sNII < ₹10L | 6,28,500 (5.00%) | 359 |
| Retail Shares Offered | 43,99,500 (35.00%) | 35,196 |
| Total Shares Offered | 1,25,70,000 (100.00%) |
Investors can bid for a minimum of 125 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1,625 | ₹1,95,000 |
| S-HNI (Min) | 14 | 1,750 | ₹2,10,000 |
| S-HNI (Max) | 66 | 8,250 | ₹9,90,000 |
| B-HNI (Min) | 67 | 8,375 | ₹10,05,000 |
Manba Finance IPO raises ₹45.25 crore from anchor investors. Manba Finance IPO Anchor bid date is September 20, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Sep 20, 2024 |
| Shares Offered | 37,71,000 |
| Anchor Portion (₹ Cr.) | 45.25 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Oct 26, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Dec 25, 2024 |
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 (i) employees and (ii) 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.
As of March 31, 2024, the company employed a total of 1,344 people.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 973.75 | 787.25 | 561.46 |
| Total Income | 191.63 | 133.32 | 106.62 |
| Profit After Tax | 31.42 | 16.58 | 9.74 |
| NET Worth | 200.61 | 168.43 | 151.74 |
| Reserves and Surplus | 162.46 | 155.54 | 138.96 |
| Total Borrowing | 752.27 | 595.93 | 394.40 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augmentation of our capital base to meet the future capital requirements | 130.76 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 21.36% |
| ROCE | 19.39% |
| Debt/Equity | 3.75 |
| RoNW | 15.66% |
| Price to Book Value | 2.25 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.34 | 6.25 |
| P/E (x) | 14.39 | 19.19 |
| Promoter Holding | 100% | 74.98% |
| Market Cap | ₹602.87 Cr. |
The Manba Finance IPO is subscribed 224.05 times on September 25, 2024 6:19:53 PM (Day 3). The public issue subscribed 143.95 times in the retail category, 148.55 times in the QIB category, and 511.62 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 148.55 | 25,14,000 | 37,34,48,500 |
| NII | 511.62 | 18,85,500 | 96,46,55,750 |
| bNII (bids above ₹10L) | 546.56 | 12,57,000 | 68,70,28,500 |
| sNII (bids below ₹10L) | 441.73 | 6,28,500 | 27,76,27,250 |
| Retail | 143.95 | 43,99,500 | 63,33,00,750 |
| Total | 224.05 | 87,99,000 | 1,97,14,05,000 |
Total Application : 31,31,623
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to Book Running Lead Manager (inclusive of underwriting commission, brokerage and selling commission) | 10.68 |
| 2 | Selling Commission/processing fee for SCSBs, Sponsor Bank(s) and fees payable to sponsor bank(s) for bids made by RIBs, Bankers to the Issue, Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs(1)(2)(3)(4)(5)(6) | 1.67 |
| 3 | Fees payable to the Registrar to the Issue | |
| 4 | Others including but not limited to: (i) Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses; | 4.86 |
| 5 | Others including but not limited to: (ii) Printing and distribution of stationery; | 0.12 |
| 6 | Others including but not limited to: (iii) Advertising and marketing expenses; | 1.62 |
| 7 | Others including but not limited to: (iv) Fees payable to legal counsel; | 0.59 |
| 8 | Others including but not limited to: (v) Fees payable to other advisors to the Issue, including but not limited to Statutory Auditors, professional service provider, Independent Chartered Accountant, industry service provider and Monitoring Agency; and | 0.43 |
| 9 | Others including but not limited to: (vi) Miscellaneous expenses | 0.12 |
| Price Details | BSE |
|---|---|
| Final Issue Price | ₹120.00 |
| Open | ₹150.00 |
| Low | ₹144.00 |
| High | ₹157.45 |
| Last Trade | ₹157.45 |
Lead Manager Reports
Manba Finance IPO is a main-board IPO of 1,25,70,000 equity shares of the face value of ₹10 aggregating up to ₹151 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 125.
The IPO opens on Mon, Sep 23, 2024, and closes on Wed, Sep 25, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Manba Finance IPO using UPI as a payment gateway. Zerodha customers can apply in Manba Finance IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Manba Finance IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Manba Finance IPO opens on Mon, Sep 23, 2024 and closes on Wed, Sep 25, 2024.
Manba Finance IPO lot size is 125, and the minimum amount required for application is ₹15,000.
You can apply in Manba Finance IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Manba Finance IPO will be done on Thursday, September 26, 2024, and the allotted shares will be credited to your demat account by Fri, Sep 27, 2024. Check the Manba Finance IPO allotment status.
The Manba Finance IPO listing date is on Mon, Sep 30, 2024.
