Manba Finance IPO: Price band set at ₹114-120 per share; check key dates, issue details, more

Manba Finance IPO price band: The Manba Finance Limited IPO price band has been fixed in the range of ₹114 to ₹120 per equity share of the face value of ₹10. The Manba Finance IPO date of subscription is scheduled for Monday, September 23 and will close on Wednesday, September 25. The allocation to anchor investors for the Manba Finance IPO is scheduled to take place on Friday, September 20.

The floor price is 11.4 times the face value of the equity shares and the cap price is 12.0 times the face value of the equity shares. The price/earnings ratio based on diluted EPS for FY2024 for the company at the upper end of the price band is as high as 14.39 times, the company said in an advertisement on Business Standard. At the lower end of the price band is 13.67 times as compared to the average industry peer group P/E Ratio of 13.45 times. The Manba Finance IPO lot size is 125 equity shares and in multiples of 125 equity shares thereafter.

Manba Finance IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Tentatively, Manba Finance IPO basis of allotment of shares will be finalised on Thursday, September 26, and the company will initiate refunds on the same day, while the shares will be credited to the demat account of allottees on Friday, September 27. Manba Finance share price is likely to be listed on BSE and NSE on Monday, September 30.

Manba Finance, as stated in the company's red herring prospectus (RHP), is a Non-Banking Financial Company-Base Layer (NBFC-BL) that offers financial solutions for New two wheeler (2Ws,) three wheeler (3Ws), electric two wheeler (EV2Ws), electric three wheeler (EV3Ws), Used Cars, Small Business Loans and Personal Loans. Their AUM size is more than ₹90,000 lakhs as of March 31, 2024.

The company operates in urban, semi-urban, and metropolitan areas, providing services to the rural areas nearby. It has developed partnerships with over 1,100 dealers, with over 190 of them specialising in EVs located in Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh.

The company's listed peers are Baid Finserv Ltd (with a P/E of 13.65), Arman Financial Services Ltd (with a P/E of 8.57), MAS Financial Services Ltd (with a P/E of 2.55).

Manba Finance IPO details

Manba Finance IPO , which is worth ₹150.84 crore, comprises a fresh issue of 12,570,000 equity shares. There's no offer-for-sale (OFS) component.

The company plans to use the proceeds from the net income to increase the capital base in order to fulfill the company's future capital needs.

The Manba Finance IPO's book running lead manager is Hem Securities Limited, and the registrar for the issue is Link Intime India Private Ltd.

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