Manba Finance IPO
Manba Finance IPO — date, price band, lot size & details 2024
Manba Finance listed on 30 Sep 2024 at ₹145, 20.8% above the ₹120 issue price.
Manba Finance is a base-layer NBFC giving loans for new two-wheelers, three-wheelers, EVs, used cars and small businesses, with AUM of over Rs 90,000 lakhs on 31 March 2024. Its total income was Rs 191.63 crore in FY2024.
Stock price
Manba Finance is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 23 Sep 2024
- Close 25 Sep 2024
- Allotment 26 Sep 2024
- Refund/credit 26 Sep 2024
- Listing 30 Sep 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 25 Sep, 2024 |
|---|---|
| Price Band | ₹114 – ₹120 |
| Face Value | ₹10 |
| Lot Size | 125 Shares |
| Issue Size | ₹150.84 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 15,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 125 shares at the ₹120 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 125 | ₹15,000 |
| Retail (max) | 13 | 1,625 | ₹1,95,000 |
| S-HNI (min) | 14 | 1,750 | ₹2,10,000 |
| S-HNI (max) | 66 | 8,250 | ₹9,90,000 |
| B-HNI (min) | 67 | 8,375 | ₹10,05,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 9.74 crore in FY2022 to Rs 31.42 crore in FY2024.
- 02Total income rose from Rs 106.62 crore in FY2022 to Rs 191.63 crore in FY2024.
- 03The pre-issue P/E was 14.39 at the upper band of Rs 120, based on EPS of Rs 8.34.
- 04The whole Rs 150.84 crore issue was fresh capital for lending growth.
- 05About 97.90% of its loans are for new vehicles.
Risks · 5
- 01Total borrowing was Rs 752.27 crore on 31 March 2024, and the source puts debt to equity at 3.75.
- 02Two-wheeler loans to small borrowers, with ticket sizes of around Rs 80,000, are sensitive to income shocks.
- 03The company is small, with net worth of Rs 200.61 crore.
- 04Return on net worth was 15.66% as per the source.
- 05Promoters held 100% before the issue and 74.98% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Manba Finance offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 973.75 | 787.25 | 561.46 |
| Total Income | 191.63 | 133.32 | 106.62 |
| Profit After Tax | 31.42 | 16.58 | 9.74 |
| NET Worth | 200.61 | 168.43 | 151.74 |
| Total Borrowing | 752.27 | 595.93 | 394.40 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Manba Finance RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Manba Finance IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹8.34 | ₹6.25 |
| P/E Ratio (x) | 14.39 | 19.19 |
| Market Cap at Offer Price (₹ Cr) | ₹452.09 | ₹603.26 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹120 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹130.76 Cr of the issue is earmarked to named objects.
About the company
It finances new two-wheelers and three-wheelers, electric two and three-wheelers, used cars, small business loans and personal loans. Its AUM was over Rs 90,000 lakhs on 31 March 2024, and about 97.90% of its portfolio was new vehicle loans.
Its promoters include Manish Kiritkumar Shah, Nikita Manish Shah, Monil Manish Shah and several Manba group entities.
The IPO was Rs 150.84 crore and was entirely fresh issue. Rs 130.76 crore was planned to augment the capital base.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Manba Finance IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Hem Securities Ltd.
18 issues handled (1 mainboard, 17 SME)Best listing: Credent Connect N Care (+90.0%). Weakest: E to E Transportation Infrastructure (0.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Manba Finance?
The current Grey Market Premium is ₹33, or 28% over the issue price.
What is the Manba Finance IPO price band?
₹114 to ₹120, on a face value of ₹10.
When is the allotment?
The basis of allotment is 26 September 2024, with listing on 30 September 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
