Manba Finance IPO: Key Details and Overview
Company Overview
Manba Finance Limited, founded in 1998, is a non-banking finance company (NBFC-BL) specializing in providing financial services for a range of vehicles and personal loans. With a focus on both urban and semi-urban markets, the company has established a solid presence across multiple states in India. Manba Finance caters to a diverse customer base, including:
Employees
Self-employed individuals
The company offers financial solutions for:
New two-wheelers (2Ws) and three-wheelers (3Ws)
Electric two-wheelers (EV2Ws) and electric three-wheelers (EV3Ws)
Used cars, small business loans, and personal loans
To accommodate customer needs, the company finances up to 85% of the on-road price of vehicles, with customers expected to contribute the remaining 15%. Market Reach and Dealer Network Manba Finance has a broad geographic presence with branches in urban, semi-urban, and metropolitan areas, extending services to surrounding rural regions. The company boasts relationships with over 1,100 dealers, including more than 190 electric vehicle (EV) dealers across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh. Objective of the IPO
The primary objective of the Manba Finance IPO is to raise capital to strengthen the company's base and meet future financial needs. This expansion will enable the company to scale its operations and maintain its position in the competitive financial services market.
Manba Finance Promoter Holding
Before the IPO, the company's promoters hold 100% of the shares. Post-issue, the promoter holding is expected to reduce to 74.98%. Manba Finance IPO: Key Information
IPO Dates: 23 to 25 September, 2024
Price Band: ₹114 to ₹120 per share
Lot Size: 125 shares
Issue Size: ₹150.84 crores
Retail Quota: 35%
GMP: 33% (for informational purposes only)
Listing Date: 30th September, 2024
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