About Manba Finance:
The company is a Non-Banking Financial Company – Base Layer (NBFC-BL) regulated by the Reserve Bank of India (RBI), 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, with an asset under management (AUM) of over ₹90,000 lakhs as of March 31, 2024. Approximately 97.90% of its loan portfolio consists of new vehicle loans, with an average ticket size (ATS) of ₹80,000 for two-wheelers and ₹1,40,000 for three-wheelers. The company caters to customers seeking quick turnaround times (TAT) for loan sanction and disbursement. Headquartered in Mumbai, Maharashtra, it operates across 66 locations and 29 branches in six states across western, central, and northern India. The company has partnered with over 1,100 dealers, including more than 190 EV dealers, across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh. As of the date of the red herring prospectus, it has no subsidiaries, associates, or holding companies.
About the Industry in which Manba Finance operates:
CRISIL MI&A anticipates that domestic two-wheeler sales will achieve a compound annual growth rate (CAGR) of 8-10% from fiscal 2024 to fiscal 2027, following strong recovery in fiscal 2023 and 2024. Growth is expected to be driven by increased scooter penetration in rural markets (where scooters currently hold a 65-75% share in urban areas) and a consumer shift toward higher ‘cc’ scooters (125cc), which is likely to boost demand. Additionally, CRISIL MI&A projects two-wheeler disbursements to grow at a 14-16% CAGR over the same period, supported by improving urban sentiments, higher two-wheeler EV penetration, and better rural infrastructure.
| Important Information and Timelines of the IPO of Manba Finance: | |
|---|---|
| Open Date | 23 September 2024 |
| Close Date | 25 September 2024 |
| Total Issue Size – Number of Shares | 12570000 |
| Minimum Bid Price | 114 |
| Maximum Bid Price | 120 |
| Lot Size | 125 |
| Basis of Allotment | 26 September 2024 |
| Initiation of Refunds and Credit of Shares to Demat | 27 September 2024 |
| Listing Date | 10 June 2024 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of Manba Finance:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 125 | 15000 |
| Retail – Maximum | 13 | 1625 | 195000 |
| sHNI – Minimum | 14 | 1750 | 210000 |
| sHNI – Maximum | 66 | 8250 | 990000 |
| bHNI – Minimum | 67 | 8375 | 1005000 |
Objective of the IPO of Manba Finance:
The company plans to use the net proceeds to strengthen its capital base in order to meet its future capital requirements.
Financials of Manba Finance:
| Particulars | Fiscal 2024 | Fiscal 2023 | Fiscal 2022 |
|---|---|---|---|
| Equity Share Capital | 3,766.94 | 1,255.65 | 1,255.65 |
| Net Worth | 20,060.75 | 16,843.13 | 15,174.38 |
| Revenue from Operations | 19,158.61 | 13,331.64 | 10,659.06 |
| Total Income | 19,163.22 | 13,331.71 | 10,661.94 |
| Restated Profit for the Year | 3,141.97 | 1,658.01 | 974.02 |
| Earnings per Share | 8.34 | 4.40 | 2.59 |
| Return on Net Worth | 15.66 | 9.84 | 6.42 |
| Net Asset Value per Equity Share | 53.26 | 44.71 | 40.28 |
| Total Borrowings | 75,227.24 | 59,593.01 | 39,439.73 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for Manba Finance. You will receive a UPI mandate after 10:00 AM on 23 September 2024.
###1. How to apply for the IPO of Manba Finance on Dhan?
You can apply for the IPO of Manba Finance from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of Manba Finance be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 27 September 2024. However, you will be able to see the shares of Manba Finance on Dhan before the market starts on the listing date which is 10 June 2024.