- Introduction:
In a groundbreaking move, IBL Finance Limited, a fintech-based financial services platform, is set to launch its Initial Public Offering (IPO) from January 9, 2024, to January 11, 2024. The company, incorporated in August 2017, aims to raise Rs 33.41 crores through a fixed price issue, offering 65.5 lakh fresh shares at a price of ₹51 per share. Let’s delve into the details and explore the potential of IBL Finance as it enters the capital market.
About IBL Finance Limited:
IBL Finance Limited is a mobile app-driven financial services platform that utilizes technology and data science to streamline and expedite the lending process. The company, founded by Manish Patel, Piyush Patel, and Mansukhbhai Patel, has positioned itself as a pioneer in offering instant personal loans up to ₹50,000 through a fully digital process. With its advanced underwriting algorithms, IBL Finance generates credit reports with over 500 data points, making lending accessible and efficient.
As of August 2023, the company operates in major cities of Gujarat and Maharashtra through seven branches. The IBL Instant Personal Loan app, launched in 2023, witnessed 381,156 logins, with an average of 27,969 active users each month.
IBL Finance Limited IPO today GMP
| Price Range (a) | Lot Size (b) | Max. Investment (c) | Bid Dates (d) | Listing Date | GMP Yesterday (f) | GMP Today (g) | Expected Share Price (h) | Expected Profit per Lot (i) | Buy Y/N (j) |
|---|---|---|---|---|---|---|---|---|---|
| ₹ 51 per share | 2000 | ₹ 1,02,000 | January 9 to January 11 | January 16 | ₹ 0 | ₹ 0 | – | – | N |
| Date | GMP |
|---|---|
| 8-Jan-2024 | ₹ 0 |
| 7-Jan-2024 | ₹ 0 |
Financial Performance:
IBL Finance Limited’s financial performance has been remarkable, with a 307.59% increase in revenue and a 351.28% rise in profit after tax between March 31, 2022, and March 31, 2023. As of July 31, 2023, the company’s assets stand at ₹2,317.60 Lakhs, showcasing robust growth from ₹339.10 Lakhs in 2021. The net worth has surged to ₹2,169.34 Lakhs, with reserves and surplus at ₹351.27 Lakhs.
Key Performance Indicators (KPIs):
- Market Cap: ₹126.13 Cr
- P/E (x): 48.08
- ROE: 9.41%
- ROCE: 18.88%
- Debt/Equity: 0
- EPS (Rs): 1.06
- RoNW: 9.41%
The IPO Timeline:
The IPO subscription period spans from January 9, 2024, to January 11, 2024, with the basis of allotment finalized on January 12, 2024. Refunds will be initiated on January 15, 2024, and the credit of shares to Demat accounts is scheduled for the same day. The stock is expected to list on NSE SME on January 16, 2024.
IPO Lot Size:
Investors can bid for a minimum of 2000 shares, with retail investors requiring a minimum investment of ₹102,000. High Net Worth Individuals (HNIs) must apply for a minimum of 2 lots (4,000 shares), amounting to ₹204,000.
Objects of the Issue:
The net proceeds from the IPO will be utilized to augment the company’s Tier-I capital base to meet future capital requirements arising from business and asset growth. Additionally, funds will be allocated for general corporate purposes.
Conclusion:
IBL Finance Limited’s IPO marks a significant milestone in the fintech sector, reflecting the company’s impressive growth, technological prowess, and commitment to financial inclusion. As investors consider this opportunity, the company’s strong financials, innovative approach, and strategic objectives position IBL Finance as a potential game-changer in the lending landscape.
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Disclaimer
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