Manba Finance Launches ₹150 Crore IPO on Sept 23: Price Band Set at ₹114-120—Here’s What You Need to Know

Manba Finance, a non-banking financial company (NBFC) based in Mumbai, is launching its ₹150.84 crore IPO on Monday, September 23. The offer will close on Wednesday, September 25, with a price range set between ₹114 and ₹120 per share. The IPO is a fresh issue of 1.25 crore shares, with no existing shares being sold.

Before the IPO officially starts, the anchor book will open for a day on September 20. The money raised from the IPO will help the company strengthen its capital base and meet future financial needs.

The IPO will be handled through a book-building process. Around 50% of the shares will go to qualified institutional buyers (QIBs), at least 15% will be for non-institutional investors (NIIs), and 35% will be set aside for retail investors.

Manba Finance offers financial solutions, primarily to salaried and self-employed individuals, with a focus on quick loan approval and disbursement. The company is known for its large share of two-wheeler loans, which made up 92% of its total assets in FY 2024. Manba also had one of the fastest-growing branch networks, with a 40.3% compound annual growth rate (CAGR) between FY 2022 and FY 2024.

Manba’s assets under management (AUM) grew from ₹495.82 crore in FY 2022 to ₹936.85 crore in FY 2024, showing a CAGR of 37.46%. The company’s profits surged by 89.5% in FY 2024, reaching ₹31.41 crore, up from ₹16.58 crore the previous year. Revenue also increased significantly, rising 43.71% to ₹191.58 crore due to higher interest income.

Manba Finance plans to list its shares on both the BSE and NSE. Hem Securities is managing the IPO, while Link Intime India is the registrar.