Manba Finance | Business Upturn

Manba Finance hits landmark milestone of 1 million customers across India

Aman Shukla — Mon, 24 Nov 2025 05:51:45 +0000

Manba Finance has marked one of the most significant achievements in its long-standing journey, announcing that it has officially crossed the one-million-customer mark. For a company that has been serving borrowers for nearly three decades, this milestone is more than a numerical accomplishment—it reflects the trust, goodwill, and confidence customers, partners, and dealers have placed in the institution over the years.

The company’s growth story is deeply rooted in its commitment to financial inclusion and its ability to reach people across India’s diverse economic landscape. From helping first-time borrowers take their first step toward credit empowerment to supporting families and individuals across urban and rural regions, Manba Finance has steadily built a reputation for reliability and customer-centric service. The one-million-customer milestone stands as a testament to that dedicated approach.

Manba Finance today operates across seven states and has expanded its presence to more than a hundred locations, making financial access simpler and more approachable for people in every corner. A strong dealership network of over 1,300 partners and a committed team of around 1,600 employees continue to drive the company’s mission forward. Each new customer the company has onboarded brings along a story—one rooted in aspirations, dreams, and trust. Collectively, these stories form the backbone of Manba Finance’s journey.

Speaking about the achievement, Manish Shah, Managing Director of Manba Finance Limited, shared that reaching one million customers symbolizes much more than scale. According to him, it represents the faith that families, partners, and dealers have invested in the company for more than 29 years. He added that this milestone is not the end of a journey but rather the beginning of a larger chapter where Manba Finance aims to create even greater impact.

Manba Finance Q3 FY25 Results: Revenue jumps 43% YoY to Rs 68.87 crore, Profit jumps 168% YoY

Aditya Bhagchandani — Mon, 27 Jan 2025 07:40:49 +0000

Manba Finance Limited reported its financial results for the quarter ended December 31, 2024, showcasing significant growth in profitability. The non-banking financial company (NBFC) achieved a Profit After Tax (PAT) of ₹12.96 crore, marking a robust increase from ₹4.83 crore in the corresponding quarter last year, reflecting a YoY growth of over 168%.

Revenue Performance

The company’s total revenue from operations surged to ₹68.87 crore in Q3 FY25 compared to ₹48.07 crore in Q3 FY24, representing a year-on-year growth of over 43%. This growth was driven by higher interest income, which stood at ₹64.59 crore during the quarter compared to ₹43.80 crore in the same period last year.

Expenses

Manba Finance’s total expenses for Q3 FY25 rose to ₹52.41 crore, up from ₹41.76 crore in Q3 FY24. The increase was primarily due to:

Finance costs: ₹28.29 crore (up from ₹21.80 crore).
Employee benefits expenses: ₹13.60 crore (up from ₹10.89 crore).
Other expenses: ₹4.86 crore (up from ₹3.23 crore).

Taxation

The company recorded a total tax expense of ₹3.50 crore in Q3 FY25, compared to ₹1.48 crore in Q3 FY24. This includes both current and deferred taxes.

Nine-Month Performance

For the nine months ended December 31, 2024, Manba Finance reported a PAT of ₹29.78 crore, a significant increase from ₹21.39 crore in the same period of FY24. Total income during this period stood at ₹182.51 crore, compared to ₹136.36 crore in the previous year.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Please conduct your own research or consult a financial advisor before making investment decisions.

Manba Finance Limited to consider issuance of debt securities worth Rs 200 crore

Matrika Shukla — Fri, 22 Nov 2024 12:43:31 +0000

Manba Finance Limited has announced that its Board of Directors will meet on November 28, 2024, to consider and approve the issuance of fresh debt securities. The company plans to raise up to INR 200 crore through the issuance of Secured Non-Convertible Debentures (NCDs), Perpetual Debt Instruments, Unsecured Subordinated NCDs, bonds, or other debt securities on a private placement basis. The issuance will take place in one or more tranches.

This move aims to bolster the company’s financial position by securing funds through private placements, as it continues to explore options for growth and expansion.

The decision aligns with the company’s strategy to enhance its debt portfolio and expand capital resources for future business operations.

Manba Finance shares surge 3% following partnership with Piaggio Vehicles

Aman Shukla — Tue, 19 Nov 2024 04:25:22 +0000

Manba Finance Ltd experienced a 3% surge in its stock price following the announcement of a strategic Memorandum of Understanding (MoU) with Piaggio Vehicles Pvt Ltd (PVPL), a wholly-owned subsidiary of the globally renowned Piaggio Group. This partnership marks a significant step in the Indian financial and small commercial vehicle sectors, promising innovative financing solutions tailored to meet customer needs.

The collaboration between Manba Finance and PVPL aims to simplify vehicle ownership by offering low down payment options, competitive interest rates and loan tenures extending up to four years.

As of 9:54 am, Manba Finance shares were trading 3.36% higher at Rs 151.52 on the NSE.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Manba Finance and Piaggio target Rs 1,106 crore portfolio with 4-year loans

Matrika Shukla — Mon, 18 Nov 2024 10:23:30 +0000

Manba Finance Ltd, a non-banking financial company (NBFC), has entered a strategic partnership with Piaggio Vehicles Pvt Ltd (PVPL), a subsidiary of Italy’s Piaggio Group and a leader in small commercial vehicles. This collaboration aims to provide customized financing solutions for three-wheeler (3W) customers across India, focusing on affordability, convenience, and accessibility.

The partnership includes competitive interest rates, low down payment options, and loan tenures of up to four years, benefiting both internal combustion engine (ICE) and electric vehicle (EV) customers. Special provisions have been made for women entrepreneurs, emphasizing inclusivity and empowerment within the growing 3W segment.

The agreement was formalized by Monil Shah, Chief Business Officer and Director at Manba Finance, and Diego Graffi, Chairman and Managing Director at Piaggio Vehicles Pvt Ltd. The partnership will feature a central coordination team responsible for product structuring, interest rate optimization, and streamlined digital processes to enhance customer experience.

This collaboration coincides with the record sales of electric 3Ws in India, which reached 65,700 units in October 2024, reflecting rising demand for sustainable mobility solutions. The initiative underscores Manba Finance’s commitment to supporting India’s transition to electric vehicles and fostering entrepreneurship.

Monil Shah expressed enthusiasm for the partnership, stating, “Collaborating with Piaggio, a trusted brand in the three-wheeler industry, strengthens our presence in this segment while enabling us to deliver seamless digital lending solutions to customers.”

Manba Finance lists with 21% gains, debuts at Rs 145 on NSE

Aditya Bhagchandani — Mon, 30 Sep 2024 04:30:07 +0000

Manba Finance Limited made its stock market debut today, September 30, with a strong start, listing at ₹145 on the NSE, reflecting a 20.8% increase over its issue price of ₹120 per share. On the BSE, shares opened at ₹150, marking a 25% gain. The IPO received an overwhelming response, with the issue being subscribed over 224 times, driven by significant demand from Non-Institutional Investors (NIIs).

Listing Details and Market Performance
The shares of Manba Finance were trading at a grey market premium (GMP) of ₹38-40 before listing, suggesting potential gains of up to 35%. However, on its first day of bidding, the shares were priced around ₹64-65. Despite market volatility impacting the listing prospects, Manba Finance managed to achieve strong initial gains, indicating a positive reception.

About Manba Finance and IPO Details
Established in 1998, Manba Finance is a non-banking finance company (NBFC) offering a variety of financial solutions, including loans for new and electric two-wheelers (2Ws and EV2Ws), three-wheelers (3Ws and EV3Ws), used cars, small business financing, and personal loans. The IPO issue size was ₹150.84 crore, composed entirely of a fresh issue, with the funds raised aimed at expanding the capital base to meet future financial requirements.

Company Highlights and Financial Strength

Extensive Dealer Network: Manba Finance has strong relationships with 1,100 dealers, which serve as key points of sale for its business.
Presence Across India: The company operates across 66 locations in 6 states, with the ability to expand into underpenetrated regions.
Asset Quality: In FY24, the company reported a gross NPA of 3.95% and a net NPA of 3.16%.
Funding and Operations: It has access to cost-effective long-term borrowing options, including Private Term Credit (PTC), and the issuance of privately placed listed and unlisted Non-Convertible Debentures (NCDs).
Technology-Driven Model: Manba Finance operates with a scalable, technology-driven model designed for a quick turnaround time (TAT) in loan processing.

IPO Response and Fund Utilization
The Manba Finance IPO garnered bids worth over ₹23,000 crore against the issue size of ₹150.84 crore, showcasing robust investor interest. The funds raised from the IPO will be utilized to strengthen the company’s capital base to support future growth and capital needs.

Overall, Manba Finance’s strong debut reflects investor confidence in its business model and growth prospects, positioning it well for future expansion.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Manba Finance IPO subscribed over 73 times till day 2

Aditya Bhagchandani — Tue, 24 Sep 2024 12:06:35 +0000

The Manba Finance Limited initial public offering (IPO) has garnered strong interest from investors, with the issue being subscribed 73.23 times as of September 24, the second day of bidding. Investors bought 64.43 crore equity shares against the offer size of 87.99 lakh shares, showing significant demand for the IPO.

The non-banking finance company (NBFC), which primarily offers loans for two-and three-wheelers, aims to raise ₹151 crore through this IPO. The entire amount is being raised via a fresh issue of 1.25 crore equity shares at a price range of ₹114-120 per share.

Subscription Breakdown

Non-institutional investors led the charge, subscribing 172.26 times their allotted quota.
Retail individual investors followed, subscribing 70.26 times their reserved portion.
Qualified institutional buyers (QIBs) also showed interest, with the issue being subscribed 4.15 times in their category.

Manba Finance has already raised ₹45.25 crore from anchor investors, including Chartered Finance & Leasing, Antara India Evergreen Fund, and others.

The IPO proceeds will primarily be used to augment the company’s capital base, helping it meet future capital requirements as it continues to expand across key markets in Maharashtra, Gujarat, Rajasthan, and other states.

The company is expected to list at a premium of around 50% in the grey market, reflecting strong investor confidence.

Here is the complete data of Manba Finance IPO (BSE) –

MANBA FINANCE LIMITED Last updated on 24 Sep 2024 \| 05:00:00 PM
Sr.No.	Category	No.of shares offered / reserved	No. of shares bid for	No. of times of total meant for the category
1	Qualified Institutional Buyers (QIBs)	25,14,000	1,04,33,125	4.15
1(a)	Foreign Institutional Investors (FIIs)	–	15,77,625	–
1(b)	Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)	–	33,000	–
1(c)	Mutual Funds	–	–	–
1(D)	Others	–	88,22,500	–
2	Non Institutional Investors(NIIS)	18,85,500	32,47,98,500	172.26
2.1	Non Institutional Investors(Bid amount of more than Ten Lakh Rupees)	12,57,000	20,97,35,000	166.85
2.1(a)	Corporates	–	17,49,375	–
2.1(b)	Individuals (Other than RIIs)	–	18,85,55,875	–
2.1(c)	Others	–	1,94,29,750	–
2.2	Non Institutional Investors(Bid amount of more than Two Lakh Rupees and upto 10 lakh rupees)	6,28,500	11,50,63,500	183.08
2.2(a)	Corporates	–	2,43,500	–
2.2(b)	Individuals (Other than RIIs)	–	10,43,89,500	–
2.2(c)	Others	–	1,04,30,500	–
3	Retail Individual Investors (RIIs)	43,99,500	30,91,14,875	70.26
3(a)	Cut Off	–	27,04,95,500	–
3(b)	Price Bids	–	3,86,19,375	–
4	Employee Reserved	–	–	–
4(a)	Employee (Cut off)	–	–	–
4(b)	Employee (Price)	–	–	–
5	Reservation PortionShareholder	–	–	–
5(a)	RPS (Cut off)	–	–	–
5(b)	RPS (Price)	–	–	–
	Total	87,99,000	64,43,46,500	73.23

Manba Finance’s ₹150 crore IPO fully subscribed within the first hour of bidding

News Desk — Mon, 23 Sep 2024 05:03:09 +0000

Manba Finance Limited’s ₹150 crore initial public offering (IPO) saw a strong response, being fully subscribed within the first hour of bidding. As of 10:27 AM, the total subscription stood at 1.70 times the offered shares.

The Non-Institutional Investors (NIIs) category was subscribed 2.70 times, with bids for 50,96,125 shares against the offered 18,85,500 shares. In the Retail Individual Investors (RIIs) category, 98,17,875 shares were bid for against 43,99,500 shares, with a subscription of 2.23 times.

However, there was no participation yet from Qualified Institutional Buyers (QIBs), with 0 bids against the offered 25,14,000 shares.

The demand from retail and non-institutional investors signals a robust interest in the IPO, with further bidding updates expected as the subscription period continues.

Manba Finance’s IPO set to open on September 23, 2024, price band at ₹114-₹120 per share

Aditya Bhagchandani — Wed, 18 Sep 2024 05:02:48 +0000

Manba Finance Limited, a Mumbai-based non-banking financial company (NBFC), is set to launch its Initial Public Offering (IPO) on Monday, September 23, 2024. The price band for the IPO has been set between ₹114 and ₹120 per equity share, with the offering closing on Wednesday, September 25, 2024. Investors can bid for a minimum of 125 shares and in multiples thereafter.

The IPO is entirely a fresh issue of up to 1.25 crore equity shares, with no offer for sale component. The proceeds from the IPO will be used to strengthen the company’s capital base and support future growth.

Manba Finance, founded in 1998, offers a variety of financial products, including loans for new and electric two-wheelers, three-wheelers, used cars, small businesses, and personal loans. The company operates across six states and has 66 locations, servicing both urban and rural areas.

As of FY24, Manba Finance had assets under management (AUM) of ₹936.85 crore, a 37.46% CAGR growth since FY22. The company posted a profit of ₹31.41 crore in FY24, marking an 89.50% increase compared to the previous year.

Hem Securities Limited is the lead manager for the issue, and Link Intime India Private Limited is the registrar.

Thane-based Manba Finance files IPO papers with SEBI

Markets Desk — Thu, 14 Mar 2024 09:46:27 +0000

Manba Finance Limited, a NBFC-BL providing financial solutions for Auto loans, Used Cars, Small Business Loans and Personal Loans with an AUM size of more than ₹ 800 crore as on December 31, 2023, has filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

The IPO, with a face value of Rs 10 per equity share, is entirely a fresh issue of up to 12.57 million shares with no offer of sale component.

The issue is being made through the book-building process, wherein not more than 50% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the issue shall be available for allocation to non-institutional bidders, and not less than 35% of the issue shall be available for allocation to retail individual bidders.

The proceeds from its fresh issuance will be utilized to augmenting the capital base to meet the Company’s future capital requirements towards onward lending and general corporate purposes.

Manba Finance commenced its business operations as an NBFC in 1998 in Mumbai, Maharashtra. From 2009 onwards, it expanded its activities to include vehicle financing and currently operates across 65 locations in five states: Maharashtra, Gujarat, Rajasthan, Chhattisgarh, and Madhya Pradesh. The company primarily serves salaried and self-employed individuals.

The majority of Manba Finance’s loan portfolio, approximately 99%, consists of new vehicle loans, with an average ticket size of around ₹0.80 lakhs. It specializes in providing financial solutions with quick turnaround times for loan approval and disbursement. The company has developed enduring relationships with over 850 dealers, including more than 60 EV dealers, across its operational states.