IBL Finance IPO sets price band at ₹51 apiece: check GMP, key dates, issue details, more

IBL Finance IPO price band has been set at ₹51 per share, as per primary market expert. IBL Finance IPO will open for subscription Tuesday, January 9, and will close on Thursday, January 11. IBL Finance IPO lot size consists of 2,000 shares. Investors can bid for a minimum of 2,000 shares and in multiples thereof.

During the fiscal year that ended on March 31, 2019, IBL Finance started lending money to self-employed professional  and small business owners. The business subsequently switched to a fintech-based financial services platform starting in Fiscal 2020.

Lending is made quick and simple by this fintech company, which is driven by technology and data science. Immediate personal loans are offered by the company via a mobile app that is nearly entirely digital, said the company in its draft red herring prospectus (DRHP).

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Tentatively, IBL Finance IPO basis of allotment of shares will be finalised on Friday, January 12 and the company will initiate refunds on Monday, January 15, while the shares will be credited to the demat account of allottees on the same day. IBL Finance shares are likely to be listed on NSE SME on Tuesday, January 16.

The company's DRHP states that its revenue from operations for the fiscal years 2023, 2022, and 2021 was ₹1330.52 lakhs, ₹327.08 lakhs, and ₹112.59 lakhs, respectively.

The fiscal years 2023, 2022, and 2021 had profit before tax amounts of ₹274.52 lakhs, ₹56.53 lakhs, and ₹(9.27) lakhs, respectively.

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The company's listed peers as per the DRHP are MAS Financial Services Ltd (with a P/E of 22.68), Arman Financial Service Ltd (with a P/E of 20.93), Apollo Finvest (India) Ltd (with a P/E of 19.56), CSL Finance Ltd (with a P/E of 15.38), and Ugro Capital Ltd (with a P/E of 53.43). 

IBL Finance IPO details

IBL Finance IPO, which is worth ₹34.30 crore, is completely a fresh issue of 6,725,000 equity share; there is no offer for sale (OFS) component, according to DRHP.

The company intends to use the net proceeds of the offering to the following goals: general corporate purposes; expanding the Tier-I capital base to cover the company's anticipated future capital needs resulting from asset and business growth.

The registrar of the IBL Finance IPO is Link Intime India Private Ltd, and the book running lead manager is Fedex Securities Pvt Ltd.

Manish Patel, Piyush Patel, and Mansukhbhai Patel are the company's promoters.

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IBL Finance IPO GMP today

IBL Finance IPO grey market premium was ₹0, which meant shares were trading at their issue price of ₹51 with no premium or discount in the grey market according to investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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