Manba Finance IPO: Check date, price band, GMP and other key details

Mumbai-based Manba Finance is all set to launch its initial public offering (IPO) on September 23. The company has fixed the price band for its upcoming IPO at ₹114to ₹120 with a face value of ₹10.

Investors can place bids for at least 125 equity shares, and in increments of 125 Equity Shares thereafter. The IPO consists solely of a fresh issue of up to 1,25,70,000 shares, with no portion allocated for sale by existing shareholders.

The net proceeds will be used to strengthen the capital base to support the Company’s future capital needs.

Manba Finance began its operations as a Non-Banking Financial Company (NBFC) in Mumbai, Maharashtra, in 1998. Since 2009, it has significantly expanded by increasing its number of branches and locations across various states. Its branches are situated in urban, semi-urban, and metropolitan areas, serving the surrounding rural regions.

Headquartered in Mumbai, Maharashtra, Manba Finance operates from 66 locations connected to 29 branches across six states in western, central, and northern India. The company has established partnerships with over 1,100 dealers, including more than 190 electric vehicle dealers, in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh. Recently, it has broadened its loan offerings to include Used Car Loans, Small Business Loans, and Personal Loans, aiming to use its existing network to further penetrate the market with these new products.

About the company

Manba Finance offers financial solutions to both salaried and self-employed individuals with a swift turnaround time for loan approval and disbursement.

Approximately 97.90% of its loan portfolio consists of New Vehicle Loans, with an average ticket size of around ₹80,000 for two-wheeler loans and ₹1,40,000 for three-wheeler loans.

Manba Finance funds up to 85% of the vehicle’s on-road price, based on internal credit policies, LTV, the customer’s cash flows, CIBIL score, and collateral.

In fiscal 2024, Manba Finance held one of the highest shares of two-wheeler loans at 92% of its AUM. It also ranked third in AUM per branch at ₹14.41 crore among Arman Financial, Baid Finserv, Berar Finance, Hero Fincorp, MAS Financial, Muthoot Fincorp, and TVS Credit, and experienced the fastest branch growth with a CAGR of 40.3% from FY 2022 to FY 2024.

The company’s Assets Under Management (AUM) grew from ₹495.82 crore in FY 2022 to ₹936.85 crore in FY 2024, reflecting a CAGR of 37.46%.