Manba Finance IPO GMP, Price, Date, Allotment

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Last updated on September 30, 2024

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Manba Finance IPO

Manba Finance IPO Description – Manba Finance is an NBFC-BL offering financial solutions for new two-wheelers, three-wheelers, electric two-wheelers, electric three-wheelers, used cars, small business loans, and personal loans. As of 31 December 2023, the company has an AUM size of over INR 800 crore. Approximately 99% of its loan portfolio consists of new vehicle loans, with an average ticket size of around INR 0.80 lakhs.

Based in Mumbai, Manba Finance operates out of 65 locations connected to 28 branches across five states in western, central, and northern India. The company has established deep, long-term relationships with over 850 dealers, including more than 60 EV dealers, across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, and Madhya Pradesh. Recently, Manba Finance expanded its loan portfolio to include used car loans, small business loans, and personal loans.

As of 31 January 2024, the company had 1,315 full-time employees.

Manba Finance Ltd

Promoters of Manba Finance – Manish Kiritkumar Shah, Nikita Manish Shah, Monil Manish Shah, Manba Investments and Securities Private Limited, Avalon Advisory and Consultant Services Private Limited, Manba Fincorp Private Limited, Manba Infotech Llp and Manish Kiritkumar Shah (HUF)


Manba Finance IPO Details

Manba Finance IPO Dates23 – 25 September 2024
Manba Finance Issue PriceINR 114 – 120 per share
Fresh issue1,25,70,000 shares (INR 150.84 crore)
Offer For SaleNil
Total IPO size1,25,70,000 shares (INR 150.84 crore)
Minimum bid (lot size)125 shares (INR 15,000)
Face Value INR 10 per share
Retail Allocation35%
Listing OnNSE, BSE

Manba Finance Financial Performance

 FY 2022FY 2023FY 2024
Revenue106.59133.32191.59
Expenses93.96110.53152.74
Net income9.7416.5831.42
Margin (%)9.1412.4416.40
Figures in INR Crores unless specified otherwise

Manba Finance Offer News


Manba Finance Valuations & Margins

FY 2022FY 2023FY 2024
(Pre Issue)
FY 2024
(Post-Issue)*
EPS2.584.408.336.25
PE Ratio––13.68 – 14.418.25 – 19.21
* Calculated on the basis of annualized Profits After Tax for FY 2024
FY 2022FY 2023FY 2024
RONW (%)6.429.8415.66
NAV40.2544.6853.21
ROCE (%)8.3413.5319.39
EBITDA (%)59.1462.9065.38
Debt/Equity2.603.543.75
*Compiled by IPO Central from Prospectus

Manba Finance IPO GMP Today (Daily Trend)

DateDay-wise IPO GMPKostakSubject to Sauda
28 September 202450–5,100
27 September 202460–5,500
26 September 202460–5,500
25 September 202460–5,500
24 September 202460–5,500
23 September 202450–3,700
21 September 202440–2,800
20 September 202420–1,500

Manba Finance IPO Objectives

The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:

  • Augmenting the company’s capital base to meet the company’s future capital requirements toward onward lending – INR 138.77 crore
  • General corporate purposes.

Manba Finance – Comparison With Listed Peers

CompanyPE ratioEPSRONW (%)NAVRevenue (Cr.)
Manba Finance 19.216.2515.6653.21191.63
Baid Finserv13.651.087.7513.8966.36
Arman Financial Services8.5719521.36775.70661.53
MAS Financial Services18.1315.3114.25108.711,285.68

Manba Finance IPO Allotment Status

Manba Finance IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.


Manba Finance IPO Dates & Listing Performance

IPO Opening Date23 September 2024
IPO Closing Date25 September 2024
Finalization of Basis of Allotment26 September 2024
Initiation of refunds27 September 2024
Transfer of shares to demat accounts27 September 2024
Manba Finance IPO Listing Date30 September 2024
Opening Price on NSEINR 145 per share (up 20.83%)
Closing Price on NSEINR 152.25 per share (up 26.88%)

Manba Finance IPO Reviews – Subscribe or Avoid?

Angel One –
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Antique Stock Broking –
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Axis Capital – Not rated
Ashika Research –
BP Wealth – Subscribe
Capital Market – Neutral
Canara Bank Securities – Subscribe
Choice Broking –
Dalal & Broacha –
Elara Capital –
Elite Wealth – Not rated
GCL Broking –
Geojit –
GEPL Capital – Subscribe
Hem Securities –
Hensex Securities –
HDFC Securities –
ICICIdirect –
IDBI Capital –
Investmentz –
Indsec Securities – Subscribe
Jainam Broking – Subscribe for long term
KR Choksey –
JM Financial – Not rated
Marwadi Financial – Subscribe
Motilal Oswal –
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Reliance Securities –
Sushil Finance –
Samco Securities – Not rated
SBI Securities –
SMC Global – 1.5/5
SMIFS – Subscribe
StoxBox – Subscribe
Swastika Investmart – Subscribe
Ventura Securities – Subscribe


Manba Finance Offer Lead Manager

HEM SECURITIES LIMITED
904, A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013, India
Phone: +91- 022- 49060000
Email: [email protected]
Website: www.hemsecurities.com


Manba Finance Offer Registrar

LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in


Manba Finance Contact Details

MANBA FINANCE LIMITED
IT/ ITES Building, Plot No.A-79, Road No. 16,
Wagle Estate, Thane 400 604, Maharashtra, India
Phone: +91 22 6234 6598
Email: [email protected]
Website: www.manbafinance.com


Manba Finance IPO FAQs

How many shares in Manba Finance IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.

How to apply for Manba Finance Public Offer?

The best way to apply for Manba Finance public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.

What is Manba Finance IPO GMP today?

Manba Finance IPO GMP today is INR 50 per share.

What is Manba Finance’s kostak rate today?

Manba Finance kostak rate today is INR NA per application.

What is Manba Finance Subject to Sauda rate today?

Manba Finance Subject to Sauda rate today is INR 5,100 per application.

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