Rs. Considering the upper price band of 120, the shares are expected to list at a premium of 32% over the issue price.
However, it is important to note that the gray market premium is only an indicator of how a company’s shares stack up in the unlisted market and can change rapidly.
The company intends to use the proceeds from the fresh issue to increase its capital base and meet future capital requirements.
Based in Mumbai, the company provides financial solutions to both salaried and self-employed individuals, offering fast turnaround time (TAT) for loan approval and disbursement.
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In FY24, Manba Finance had the largest share of two-wheeler loans, accounting for 92% of its assets under management (AUM).
It has an AUM per branch of Rs.100 crore, beating companies like Arman Financial, Baid Finserv, Berar Finance, Hero Fincorp, MAS Financial, Muthoot Fincorp and TVS Credit. 14.41 crore is the third rank. With a CAGR of 40.3% from FY 2022 to FY 2024, Manba Finance was also the fastest branch growing.
Its AUM in FY2022 will be Rs. 495.82 crore in FY 2024 to Rs. 936.85 crore, representing a compound annual growth rate (CAGR) of 37.46%.
Company in FY24 Rs. 31.41 crore in profit, which was Rs. 16.58 crore is 89% more. Revenue for FY24 in FY23 was Rs. 133.32 crore increased significantly to Rs. 191.58 crore, an increase of 44%, mainly driven by higher interest income.
Ham Securities acted as the sole book-running lead manager and registrar for the Link Intime India issue.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. These do not represent the views of Economic Times)
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