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Manba Finance Ltd IPO
Status: Closed
Overview
IPO date
23 Sept 2024 to 25 Sept 2024
Face value
₹ 10 per share
Price
₹ 114 to ₹120 per share
Issue Size
12,570,000 shares
(aggregating up to ₹ 150.84 Cr)
(aggregating up to ₹ 150.84 Cr)
Allotment Date
26 Sept 2024
Listing at
NSE
Issue type
Book Building
Sector
Finance
Objectives of Manba Finance Ltd IPO
Initial public offering of up to 1,25,70,000 equity shares of face value of Rs. 10 each ("Equity Shares") of Manba Finance Limited ("The Company" or "Issuer") for cash at a price of Rs. 120 per equity share (including a premium of Rs. 110 per equity share) ("Issue Price") aggregating up to
Rs. 150.84 crores ("Issue"). The issue comprises a fresh issue of up to 1,25,70,000 equity shares aggregating up to Rs. 150.84 crores ("Issue"). The issue shall constitute 25.02 % of the post-issue paid-up equity share capital of the company.
Manba Finance Ltd IPO Strategy
- Increasing penetration in existing markets and diversifying into new markets.
- Continue focus on vehicle finance and the growing 2Ws/3Ws/EV2Ws/EV3Ws market.
- Diversifying its portfolio into Used Car Loans, Small Business Loans and Personal Loans.
- Leveraging its existing Branch and location setup by adding new products.
- Continue to invest in technology and digitization initiatives to enhance its operating model and improve customer experience.
- Enhance its brand recall to attract new customers.
About Manba Finance Ltd
Manba Finance Limited was originally incorporated as Manba Finance Private Limited', a private limited company, dated May 31, 1996, issued by the Registrar of Companies, Maharashtra at Mumbai. Thereafter, Company was converted into a public limited
and the name was changed to Manba Finance Limited'. A fresh certificate upon change of name and conversion to a public limited company was issued by RoC on April 11, 2005.
The Company commenced business activities in April, 1998 as a NBFC from Mumbai, Maharashtra and scaled up the operations from
2009 by way of growth in vehicle financing across states. The Company established relationships with more than 1,100 Dealers, including more than 190 EV Dealers.
The Company is engaged in the business of providing finance. It deals in the financing of New 2Ws, 3Ws, EV2Ws, EV3Ws and personal loan. It secure the funding from diversified sources including term loans and cash credit facilities from public sector banks, private sector banks, small finance banks & other financial institutions and PTC and issuance of privately placed listed and unlisted NCDs to meet capital requirements.
The Company in 2018, expanded the Pune operations; further expanded the operations to Nashik and Satara in the state of Maharashtra and to Ahmedabad, Gujarat in 2018. It opened branch in Jaipur, Rajasthan in 2021; expanded the operations to Nagpur, Vidarbha region in
Maharashtra and to Raipur in the state of Chhattisgarh in 2022. It further expanded the network of more than 850 dealers, including more than 60 EV dealers in 2023; and further made business expansion in Madhya Pradesh by opening a branch in Indore.
The Company launched Small Business Loans, Used Car Loans and Personal Loans in 2023 and has expanded the business in Uttar Pradesh by opening of branch in Lucknow in 2024.
The Company has floated an IPO of 1,25,70,000 Fresh Issue Equity Shares by raising funds aggregating to Rs 150.84 Crore in September, 2024.
Unlock Stock of the Month
T&C*
Strengths vs Risks of Manba Finance Ltd
Know the pros & cons
Strengths
Established relationships with more than 1100 Dealers.- Ability to expand to new underpenetrated geographies (currently present in 66 locations spread across six states in western, central and north India).
- Access to diversified and cost-effective long-term borrowing.
- Technology drive and scalable operating model with quick Turn Around Time (TAT) for loan processing (5.30 days as of March 31, 2024).
- Wide collections infrastructure and processes leading to maintenance of the Company's asset quality.
- Experienced Promoters and professional management team.
Risks
- Its business and future prospects could get adversely affected if the company is not able to maintain relationships with its Dealers from whom the company derive significant portion of its New Vehicle Loans business.
- New Vehicle Loans constitute 97.90% of its AUM. Lack of diversity in its loan products may
affect the company's growth, prospects and financial condition.
- Any downgrade in its credit ratings could increase the company borrowing costs, affect its ability to obtain financing, and adversely affect the company's business, results of operations and financial condition.
- Its may faces asset-liability mismatches, which could affect the company liquidity and consequently may adversely affect its operations and profitability.
- Its operations could be adversely affected by strikes or increased remuneration demands by its
employees or any other kind of disputes with the company's employees.
- The company has experienced negative cash flows from operating activities in Fiscals 2024 and 2023 and may continue to do so in the future and the same may adversely affect its cash flow requirements, which in turn may adversely affect its ability to operate the company's business and implement its growth plans, thereby affecting its financial condition.
- Its business and operations are dependent on the company's ability to timely access cost effective sources of funding. Any disruption in its sources of funding could have an adverse effect on the company's business, results of operations and financial condition.
- Its operations are concentrated in six states in western, central and north India and any adverse
developments in these regions could have an adverse effect on its business and results of
operations.
- Its Promoters have subscribed to, and purchased, Equity Shares, at a price which could be below
the Issue Price. The average cost of acquisition of Equity Shares by its Promoters could also be
lower than the Issue Price.
- The company participate in markets that are competitive with continuously evolving customer needs, and if the company does not compete effectively with established companies and new market entrants, its business, results of operations, cash flows and financial condition could be adversely affected.
- Any deterioration in the performance of any pool of receivables securitized and assigned to banks
may adversely impact its financial performance.
- The company receive a small portion of its aggregate recoveries in cash from certain dispersed locations. The company may be exposed to operational risks, including employee negligence, fraud, petty theft, burglary and embezzlement, which could harm its results of operations and financial position.
- Its Statutory Auditor has included an emphasis of matter in the company Restated Financial Statements.
- The Company was incorporated in the year 1996 and certain documents filed by it with the RoC
are not traceable. While the company has conducted a search with RoC, in respect of the availability of certain forms and other records, its cannot assure you that these forms or records will be available at all or any time in the future.
- The company has contingent liabilities and its financial condition could be adversely affected if these contingent liabilities materialize.
- The Company has in the past entered into related party transactions with its Promoters and
Promoter Group members and may continue to do so in the future. There can be no assurance that
such transactions, individually or in the aggregate, will not have an adverse effect on its financial condition and results of operations.
- The company propose to utilize the Net Proceeds of the Issue to augment capital base (Tier I) of the Company to meet future capital requirements arising out of the growth in its business. The company funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of the Net Proceeds.
- This Red Herring Prospectus contains information from third parties and from the CRISIL Report
prepared by CRISIL, which the company has commissioned and paid for purposes of confirming its understanding of the industry exclusively in connection with the Issue and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- Negative publicity could damage its reputation and adversely impact our business and financial
results.
- The company does not own its Registered Office and have taken the same on leave and license basis and any revocation or adverse changes in the terms of the leave and license may have an adverse effect on its business, prospects, results of operations and financial condition.
- The company has experienced growth in recent years, and its may not be able to sustain the company growth or manage it effectively or execute its growth strategy effectively.
- The company operates in a seasonal industry. In an economic downturn, its may not be able to grow its
business or maintain levels of liquidity, loss minimization, and revenue growth to sustain the company's business and remain viable through the credit cycle.
- There are outstanding legal proceedings involving the Company, Promoters and Directors which
may adversely affect its business, financial condition and results of operations.
- Its inability to expand the company gross loan book or to assess and recover the full value of collateral or amounts outstanding under defaulted loans in a timely manner, or at all, could adversely affect its business, results of operations and financial condition.
- Its business is dependent on the company ability to process and approve customer loans as fast as possible. In the event its Turn Around Time (TAT) for loan processing and approval is not competitive with other lenders in this space, its customers and Dealers may not prefer it for their loan requirements which may adversely affect its business, reputation, prospects, results of operations, cash flows and financial condition.
- Its success depends, in large part, upon the company management team and skilled personnel and on its ability to attract and retain such persons. Failures to train and motivate its employees may lead to an increase in the company employee attrition rates and its results of operations could be adversely affected as a result of any disputes with its employees.
- Failures in leveraging its existing Branches and Locations setup for offering new products.
- The company inability to adequately assess and recover the assessed or full value of collateral or amounts outstanding under defaulted loans in a timely manner, or at all, could adversely affect its business, results of operations and financial condition.
- The company has a huge concentration of loans to the salaried and self-employed and the risk of nonpayment or default by its borrowers may adversely affect the company's business, results of operations and financial condition.
- The company is subject to inspection by the Reserve Bank of India. Non-compliance with the observations of the Reserve Bank of India, if any, pursuant to the inspections could expose it to penalties and restrictions.
- Its may be unable to maintain the quality of the company loan portfolio or manage the growing loan portfolio which may result in significantly larger non-performing assets and provisions.
- A portion of its customers are first time borrowers which increases risks of non-payment or default for the company.
- The company relies on its internal credit policies to make credit decisions. If the company does not make accurate credit decisions, its business and financial results will be adversely affected, and the impact could be material.
- The company operates in a highly regulated industry and changes in the laws, rules and regulations applicable to it may adversely affect its business, financial condition and results of operations.
- The Small Business Loans and Personal Loans segments in India are highly competitive and its
inability to compete effectively could adversely affect its business and results of operations.
- Its lack of success in expanding the company's business into new regions and markets in India could adversely affect its business, results of operations, financial condition and cash flows.
- The company is affected by volatility in interest rates in its treasury operations, which could cause the company net interest income and net interest margin to vary and consequently affect its profitability.
- Its non-convertible debentures ("NCDs") are listed on BSE and the company is subject to rules and
regulations with respect to such listed NCDs. If the company fails to comply with such rules and regulations, its may be subject to certain penal actions, which may have an adverse effect on its business, results of operations, financial condition and cash flows. The company has also issued unlisted NCDs to certain investors.
- Its inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect its business, results of operations and financial
condition.
- Any failures or significant weakness of the company internal processes or systems could cause operational errors or incidents of fraud, which would adversely affect its business, profitability and reputation.
- Its financial performance may be materially and adversely affected by the company inability to respond promptly and effectively to new technological innovations.
- Its maintain a capital adequacy ratio ("CRAR") of not less than 15% of its Tier 1 capital of the company aggregate risk weighted assets on-balance sheet and risk adjusted value of off-balance sheet items.
- Any inability to expand its business into new regions and markets in India or the sub-optimal
performance of its new branches and locations could adversely affect the company's business, results of operations, financial condition and cash flows.
- The company relies significantly on its information technology systems for the company's business and any inadequacy or security breach in such systems could adversely affect its results of operations, cash flows and reputation.
- Its may not be able to identify, monitor and manage risks or effectively implement its risk
management policies.
- The company utilize the services of certain third parties for its operations and any interruption or deficiency in their services could have an adverse effect on its business.
- The company depends on the accuracy and completeness of information provided by its customers and certain third party service providers and its reliance on any erroneous or misleading information may affect the company judgement of their credit worthiness, as well as the value of and title to the collateral.
- The company may be exposed to risks that may arise if its Small Business Loan customers opt for balance transfer to other banks or financial institutions.
- Regulatory or legislative developments regarding privacy and data security matters could adversely
affect its ability to conduct the company's business.
- The company may be unable to sufficiently obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
- Any failures by it to comply with applicable anti-money laundering, counter-terrorist financing and economic sanction laws and regulations could lead to penalties and may damage its reputation.
- The company requires several statutory and regulatory approvals, licenses, registrations and permissions to conduct its business and an inability to obtain or maintain such approvals, licenses, registrations and permissions in a timely manner, or at all, may adversely affect its operations.
- Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures and restrictive terms of its financing arrangements.
- If the company is unable to secure funding on acceptable terms and at competitive rates when needed, or to service its debt obligations in a timely manner, it may adversely affect the company's business, credit rating, reputation, prospects, results of operations, cash flows and financial condition.
Manba Finance Ltd Peer Comparison
Understand the company’s industry standing
Manba Finance Ltd
Baid Finserv Ltd
Arman Financial Services Ltd
Face Value
10
2
10
Standalone / Consolidated
Standalone
Standalone
Consolidated
Total Income Rs. Cr.
191.6322
66.3583
661.5277
EPS-Basis
8.34
1.08
195
EPS-Diluted
---
---
---
NAV Per Share
53.26
13.89
775.7
P/E-Basic EPS
---
1.06
2.15
P/E-Diluted EPS
---
---
---
RONW(%)
15.66
7.75
21.36
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of Manba Finance Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 23 Sept 2024 & closes on 25 Sept 2024.
Manba Finance Limited was originally incorporated as Manba Finance Private Limited', a private limited company, dated May 31, 1996, issued by the Registrar of Companies, Maharashtra at Mumbai. Thereafter, Company was converted into a public limited
and the name was changed to Manba Finance Limited'. A fresh certificate upon change of name and conversion to a public limited company was issued by RoC on April 11, 2005.
The Company commenced business activities in April, 1998 as a NBFC from Mumbai, Maharashtra and scaled up the operations from
2009 by way of growth in vehicle financing across states. The Company established relationships with more than 1,100 Dealers, including more than 190 EV Dealers.
The Company is engaged in the business of providing finance. It deals in the financing of New 2Ws, 3Ws, EV2Ws, EV3Ws and personal loan. It secure the funding from diversified sources including term loans and cash credit facilities from public sector banks, private sector banks, small finance banks & other financial institutions and PTC and issuance of privately placed listed and unlisted NCDs to meet capital requirements.
The Company in 2018, expanded the Pune operations; further expanded the operations to Nashik and Satara in the state of Maharashtra and to Ahmedabad, Gujarat in 2018. It opened branch in Jaipur, Rajasthan in 2021; expanded the operations to Nagpur, Vidarbha region in
Maharashtra and to Raipur in the state of Chhattisgarh in 2022. It further expanded the network of more than 850 dealers, including more than 60 EV dealers in 2023; and further made business expansion in Madhya Pradesh by opening a branch in Indore.
The Company launched Small Business Loans, Used Car Loans and Personal Loans in 2023 and has expanded the business in Uttar Pradesh by opening of branch in Lucknow in 2024.
The Company has floated an IPO of 1,25,70,000 Fresh Issue Equity Shares by raising funds aggregating to Rs 150.84 Crore in September, 2024.
Manba Finance Ltd IPO will close on 25 Sept 2024.
- Established relationships with more than 1100 Dealers.
- Ability to expand to new underpenetrated geographies (currently present in 66 locations spread across six states in western, central and north India).
- Access to diversified and cost-effective long-term borrowing.
- Technology drive and scalable operating model with quick Turn Around Time (TAT) for loan processing (5.30 days as of March 31, 2024).
- Wide collections infrastructure and processes leading to maintenance of the Company's asset quality.
- Experienced Promoters and professional management team.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Manish Kiritkumar Shah | 6559848 | 17.41 | 6559848 | 13.06 |
| 2 | Nikita Manish Shah | 5004270 | 13.29 | 5004270 | 9.96 |
| 3 | Monil Manish Shah | 1794549 | 4.76 | 1794549 | 3.57 |
| 4 | Manba Investment & Securities | 13906038 | 36.92 | 13906038 | 27.68 |
| 5 | Avalon Advisory & Consultants | 2495700 | 6.63 | 2495700 | 4.97 |
| 6 | Manba Fincorp Pvt Ltd | 2087706 | 5.54 | 2087706 | 4.16 |
| 7 | Manba Infotech LLP | 3601053 | 9.56 | 3601053 | 7.17 |
| 8 | Manish Kiritkumar Shah (HUF) | 2214846 | 5.88 | 2214846 | 4.41 |
- Its business and future prospects could get adversely affected if the company is not able to maintain relationships with its Dealers from whom the company derive significant portion of its New Vehicle Loans business.
- New Vehicle Loans constitute 97.90% of its AUM. Lack of diversity in its loan products may affect the company's growth, prospects and financial condition.
- Any downgrade in its credit ratings could increase the company borrowing costs, affect its ability to obtain financing, and adversely affect the company's business, results of operations and financial condition.
- Its may faces asset-liability mismatches, which could affect the company liquidity and consequently may adversely affect its operations and profitability.
- Its operations could be adversely affected by strikes or increased remuneration demands by its employees or any other kind of disputes with the company's employees.
- The company has experienced negative cash flows from operating activities in Fiscals 2024 and 2023 and may continue to do so in the future and the same may adversely affect its cash flow requirements, which in turn may adversely affect its ability to operate the company's business and implement its growth plans, thereby affecting its financial condition.
- Its business and operations are dependent on the company's ability to timely access cost effective sources of funding. Any disruption in its sources of funding could have an adverse effect on the company's business, results of operations and financial condition.
- Its operations are concentrated in six states in western, central and north India and any adverse developments in these regions could have an adverse effect on its business and results of operations.
- Its Promoters have subscribed to, and purchased, Equity Shares, at a price which could be below the Issue Price. The average cost of acquisition of Equity Shares by its Promoters could also be lower than the Issue Price.
- The company participate in markets that are competitive with continuously evolving customer needs, and if the company does not compete effectively with established companies and new market entrants, its business, results of operations, cash flows and financial condition could be adversely affected.
- Any deterioration in the performance of any pool of receivables securitized and assigned to banks may adversely impact its financial performance.
- The company receive a small portion of its aggregate recoveries in cash from certain dispersed locations. The company may be exposed to operational risks, including employee negligence, fraud, petty theft, burglary and embezzlement, which could harm its results of operations and financial position.
- Its Statutory Auditor has included an emphasis of matter in the company Restated Financial Statements.
- The Company was incorporated in the year 1996 and certain documents filed by it with the RoC are not traceable. While the company has conducted a search with RoC, in respect of the availability of certain forms and other records, its cannot assure you that these forms or records will be available at all or any time in the future.
- The company has contingent liabilities and its financial condition could be adversely affected if these contingent liabilities materialize.
- The Company has in the past entered into related party transactions with its Promoters and Promoter Group members and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on its financial condition and results of operations.
- The company propose to utilize the Net Proceeds of the Issue to augment capital base (Tier I) of the Company to meet future capital requirements arising out of the growth in its business. The company funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of the Net Proceeds.
- This Red Herring Prospectus contains information from third parties and from the CRISIL Report prepared by CRISIL, which the company has commissioned and paid for purposes of confirming its understanding of the industry exclusively in connection with the Issue and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- Negative publicity could damage its reputation and adversely impact our business and financial results.
- The company does not own its Registered Office and have taken the same on leave and license basis and any revocation or adverse changes in the terms of the leave and license may have an adverse effect on its business, prospects, results of operations and financial condition.
- The company has experienced growth in recent years, and its may not be able to sustain the company growth or manage it effectively or execute its growth strategy effectively.
- The company operates in a seasonal industry. In an economic downturn, its may not be able to grow its business or maintain levels of liquidity, loss minimization, and revenue growth to sustain the company's business and remain viable through the credit cycle.
- There are outstanding legal proceedings involving the Company, Promoters and Directors which may adversely affect its business, financial condition and results of operations.
- Its inability to expand the company gross loan book or to assess and recover the full value of collateral or amounts outstanding under defaulted loans in a timely manner, or at all, could adversely affect its business, results of operations and financial condition.
- Its business is dependent on the company ability to process and approve customer loans as fast as possible. In the event its Turn Around Time (TAT) for loan processing and approval is not competitive with other lenders in this space, its customers and Dealers may not prefer it for their loan requirements which may adversely affect its business, reputation, prospects, results of operations, cash flows and financial condition.
- Its success depends, in large part, upon the company management team and skilled personnel and on its ability to attract and retain such persons. Failures to train and motivate its employees may lead to an increase in the company employee attrition rates and its results of operations could be adversely affected as a result of any disputes with its employees.
- Failures in leveraging its existing Branches and Locations setup for offering new products.
- The company inability to adequately assess and recover the assessed or full value of collateral or amounts outstanding under defaulted loans in a timely manner, or at all, could adversely affect its business, results of operations and financial condition.
- The company has a huge concentration of loans to the salaried and self-employed and the risk of nonpayment or default by its borrowers may adversely affect the company's business, results of operations and financial condition.
- The company is subject to inspection by the Reserve Bank of India. Non-compliance with the observations of the Reserve Bank of India, if any, pursuant to the inspections could expose it to penalties and restrictions.
- Its may be unable to maintain the quality of the company loan portfolio or manage the growing loan portfolio which may result in significantly larger non-performing assets and provisions.
- A portion of its customers are first time borrowers which increases risks of non-payment or default for the company.
- The company relies on its internal credit policies to make credit decisions. If the company does not make accurate credit decisions, its business and financial results will be adversely affected, and the impact could be material.
- The company operates in a highly regulated industry and changes in the laws, rules and regulations applicable to it may adversely affect its business, financial condition and results of operations.
- The Small Business Loans and Personal Loans segments in India are highly competitive and its inability to compete effectively could adversely affect its business and results of operations.
- Its lack of success in expanding the company's business into new regions and markets in India could adversely affect its business, results of operations, financial condition and cash flows.
- The company is affected by volatility in interest rates in its treasury operations, which could cause the company net interest income and net interest margin to vary and consequently affect its profitability.
- Its non-convertible debentures ("NCDs") are listed on BSE and the company is subject to rules and regulations with respect to such listed NCDs. If the company fails to comply with such rules and regulations, its may be subject to certain penal actions, which may have an adverse effect on its business, results of operations, financial condition and cash flows. The company has also issued unlisted NCDs to certain investors.
- Its inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect its business, results of operations and financial condition.
- Any failures or significant weakness of the company internal processes or systems could cause operational errors or incidents of fraud, which would adversely affect its business, profitability and reputation.
- Its financial performance may be materially and adversely affected by the company inability to respond promptly and effectively to new technological innovations.
- Its maintain a capital adequacy ratio ("CRAR") of not less than 15% of its Tier 1 capital of the company aggregate risk weighted assets on-balance sheet and risk adjusted value of off-balance sheet items.
- Any inability to expand its business into new regions and markets in India or the sub-optimal performance of its new branches and locations could adversely affect the company's business, results of operations, financial condition and cash flows.
- The company relies significantly on its information technology systems for the company's business and any inadequacy or security breach in such systems could adversely affect its results of operations, cash flows and reputation.
- Its may not be able to identify, monitor and manage risks or effectively implement its risk management policies.
- The company utilize the services of certain third parties for its operations and any interruption or deficiency in their services could have an adverse effect on its business.
- The company depends on the accuracy and completeness of information provided by its customers and certain third party service providers and its reliance on any erroneous or misleading information may affect the company judgement of their credit worthiness, as well as the value of and title to the collateral.
- The company may be exposed to risks that may arise if its Small Business Loan customers opt for balance transfer to other banks or financial institutions.
- Regulatory or legislative developments regarding privacy and data security matters could adversely affect its ability to conduct the company's business.
- The company may be unable to sufficiently obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
- Any failures by it to comply with applicable anti-money laundering, counter-terrorist financing and economic sanction laws and regulations could lead to penalties and may damage its reputation.
- The company requires several statutory and regulatory approvals, licenses, registrations and permissions to conduct its business and an inability to obtain or maintain such approvals, licenses, registrations and permissions in a timely manner, or at all, may adversely affect its operations.
- Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures and restrictive terms of its financing arrangements.
- If the company is unable to secure funding on acceptable terms and at competitive rates when needed, or to service its debt obligations in a timely manner, it may adversely affect the company's business, credit rating, reputation, prospects, results of operations, cash flows and financial condition.
The Issue type of Manba Finance Ltd is Book Building.
The minimum application for shares of Manba Finance Ltd is 125.
The total shares issue of Manba Finance Ltd is 12570000.
Initial public offering of up to 1,25,70,000 equity shares of face value of Rs. 10 each ("Equity Shares") of Manba Finance Limited ("The Company" or "Issuer") for cash at a price of Rs. 120 per equity share (including a premium of Rs. 110 per equity share) ("Issue Price") aggregating up to
Rs. 150.84 crores ("Issue"). The issue comprises a fresh issue of up to 1,25,70,000 equity shares aggregating up to Rs. 150.84 crores ("Issue"). The issue shall constitute 25.02 % of the post-issue paid-up equity share capital of the company.