Manba Finance IPO Opens on Sept 23: Key Dates, Price Band ₹114-₹120, and Minimum Lot Size Details
Manba Finance, a Mumbai-based non-banking financial company (NBFC), is launching its IPO on September 23. The price range for the IPO is set between ₹114 and ₹120 per share, with a face value of ₹10. Investors can buy a minimum of 125 shares, and then in multiples of 125 shares after that. The IPO will only include new shares, with no existing shareholders selling their stakes.
The company plans to use the funds raised from this IPO to strengthen its capital base and meet future financial needs.
About Manba Finance
Manba Finance started its journey as an NBFC in 1998 in Mumbai. Since 2009, it has expanded its operations to several states, with 66 locations connected to 29 branches across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh, and Uttar Pradesh. They have over 1,100 dealer partnerships, including more than 190 electric vehicle dealers.
The company provides financial services to both salaried and self-employed individuals, offering quick loan approvals. Almost 98% of its loan portfolio consists of new vehicle loans, with an average loan size of ₹80,000 for two-wheelers and ₹1,40,000 for three-wheelers.
In 2024, Manba Finance had 92% of its assets in two-wheeler loans, one of the highest shares in the sector. Its Assets Under Management (AUM) grew from ₹495.82 crore in 2022 to ₹936.85 crore in 2024, reflecting a growth rate of 37.46%. It also saw the fastest branch growth among its competitors, growing at an annual rate of 40.3% between 2022 and 2024.
The company also offers used car loans, small business loans, and personal loans, aiming to grow further using its existing dealer network.
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