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A primary market expert has determined that the price band for the IBL Finance IPO is ₹51 per share. The subscription period for the IBL Finance IPO will begin on Tuesday, January 9, and end on Thursday, January 11. The IPO lot size for IBL Finance is two thousand shares. A minimum of 2,000 shares, as well as multiples of those, are up for bid.
IBL Finance began lending money to self-employed professionals and small business owners on March 31, 2019, the end of the fiscal year. Subsequently, beginning in Fiscal 2020, the company moved to a fintech-based financial services platform.
This fintech company uses data science and technology to make lending quick and easy. In its draft red herring prospectus (DRHP), the company stated that it provides instant personal loans through a mobile app that is almost fully digital.
IBL Finance’s initial public offering (IPO) basis for share allotment is expected to be finalized on Friday, January 12. The company will start processing refunds on Monday, January 15, and the shares will be credited to the allottees’ demat accounts on the same day. On Tuesday, January 16, IBL Finance shares are probably going to be listed on NSE SME.
According to the business’s DRHP, its operating revenue for the 2023, 2022, and 2021 fiscal years was ₹1330.52 lakhs, ₹327.08 lakhs, and ₹112.59 lakhs, in that order.
The profit before tax for the fiscal years 2023, 2022, and 2021 was ₹274.52 lakhs, ₹56.53 lakhs, and ₹(9.27) lakhs, in that order.
MAS Financial Services Ltd (P/E of 22.68), Arman Financial Service Ltd (P/E of 20.93), Apollo Finvest (India) Ltd (P/E of 19.56), CSL Finance Ltd (P/E of 15.38), and Ugro Capital Ltd (P/E of 53.43) are the company’s listed peers according to the DRHP.
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IBL Finance IPO Review, Details, Price, GMP, Date
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IBL Finance IPO details
According to DRHP, the ₹34.30 crore IBL Finance IPO is a fully new issue of 6,725,000 equity shares; it does not include an offer for sale (OFS) component.
The net proceeds of the offering will be put to the following uses by the company: general corporate purposes; increasing the Tier-I capital base to meet the projected capital requirements of the business as a result of asset and business growth.
Fedex Securities Pvt Ltd is the book-running lead manager and Link Intime India Private Ltd is the registrar of the IBL Finance IPO.
The company’s promoters are Manish Patel, Piyush Patel, and Mansukhbhai Patel.
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IBL Finance IPO GMP today
According to investorgain.com, the IBL Finance IPO grey market premium was ₹0, meaning that shares were trading at their issue price of ₹51 with no premium or discount.
A “grey market premium” denotes the willingness of investors to part with more money than the issue price.
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