IBL Finance IPO is a fixed price issue of Rs 34.30 crores. The issue is entirely a fresh issue of 67.25 lakh shares.
IBL Finance IPO opens for subscription on January 9, 2024 and closes on January 11, 2024. The allotment for the IBL Finance IPO is expected to be finalized on Friday, January 12, 2024. IBL Finance IPO will list on NSE SME with tentative listing date fixed as Tuesday, January 16, 2024.
IBL Finance IPO price is ₹51 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹102,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹204,000.
Fedex Securities Pvt Ltd is the book running lead manager of the IBL Finance IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to IBL Finance IPO DRHP for detailed information.
IBL Finance IPO Details
| IPO Date | January 9, 2024 to January 11, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹51 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 6,725,000 shares (aggregating up to ₹34.30 Cr) |
| Fresh Issue | 6,725,000 shares (aggregating up to ₹34.30 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,180,650 |
| Share holding post issue | 24,905,650 |
IBL Finance IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
IBL Finance IPO Timeline (Tentative Schedule)
IBL Finance IPO opens on January 9, 2024, and closes on January 11, 2024.
| IPO Open Date | Tuesday, January 9, 2024 |
| IPO Close Date | Thursday, January 11, 2024 |
| Basis of Allotment | Friday, January 12, 2024 |
| Initiation of Refunds | Monday, January 15, 2024 |
| Credit of Shares to Demat | Monday, January 15, 2024 |
| Listing Date | Tuesday, January 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 11, 2024 |
IBL Finance IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹102,000 |
| Retail (Max) | 1 | 2000 | ₹102,000 |
| HNI (Min) | 2 | 4,000 | ₹204,000 |
| Lot Size Calculator | |||
IBL Finance IPO Promoter Holding
The Promoters of the company are Manish Patel, Piyush Patel and Mansukhbhai Patel.
| Share Holding Pre Issue | 85.55% |
| Share Holding Post Issue |
About IBL Finance Limited
Incorporated in August 2017, IBL Finance Limited is a fintech-based financial services platform that uses technology and data science to make lending easier and faster. IBL Finance is a mobile app that offers instant personal loans up to ₹50,000 through a completely digital process. Loans can be approved in as fast as under 3 minutes.
As of March 31, 2023 the company has disbursed 1,63,282 personal loans amounting to ₹ 7,105.44 lakhs. In 2023, the IBL Instant Personal Loan app had 381,156 logins. On average, 27,969 users were active on the app every month.
As of August 2023, the company has 7 branches in major cities of Gujarat and Maharashtra.
The company’s advanced underwriting algorithms use data from many sources to generate a credit report with over 500 data points. Keeping the language simple and concise to ensure the customers can easily understand the information the company provides.
As of June 30, 2023, the company employs 81 full time employees.
IBL Finance Limited Financial Information (Restated)
IBL Finance Limited’s revenue increased by 307.59% and profit after tax (PAT) rose by 351.28% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,218.11 | 1,022.85 | 339.10 |
| Revenue | 1,333.13 | 327.08 | 112.59 |
| Profit After Tax | 192.83 | 42.73 | -9.88 |
| Net Worth | 2,048.74 | 355.47 | 312.73 |
| Reserves and Surplus | 1,139.71 | 29.47 | -13.27 |
| Total Borrowing | 9.12 | 640.58 | |
| Amount in ₹ Lakhs | |||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 9.41% |
| ROCE | 18.88% |
| Debt/Equity | 0 |
| EPS (Rs) | 1.15 |
| RoNW | 9.41% |
Check IBL Finance IPO Peer Comparison here.
Objects of the Issue (IBL Finance IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Augmenting the company’s Tier-I capital base to meet the company’s future capital requirements, arising out of the growth of the business and asset; and
- General corporate purposes.
IBL Finance Limited Contact Details
IBL Finance Limited
Shop-151, Silver Stone Arcade, Near.
Kantheriya Hanuman Temple, OP-34/A+B+C+D, FP-50,
Singanpore, Causeway Road, Katargam, Surat- 395004
Phone: 9828116900
Email: compliance@iblfinance.in
Website: https://iblfinance.in/
IBL Finance IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: ipo@bigshareonline.com
Website: https://linkintime.co.in/mipo/ipoallotment.html