The Initial Public Offering (IPO) of IBL Finance has set its price band at ₹51 per share, and the subscription period is scheduled to open on Tuesday, January 9, closing on Thursday, January 11. The lot size for the IBL Finance IPO is 2,000 shares, and investors can bid for a minimum of 2,000 shares, with further subscriptions in multiples of this lot size.
IBL Finance ventured into lending to self-employed professionals and small business owners in the fiscal year ending March 31, 2019, before transitioning to a fintech-based financial services platform in Fiscal 2020. The company, driven by technology and data science, simplifies lending through a nearly entirely digital mobile app that provides immediate personal loans.
The basis of allotment for IBL Finance IPO shares is tentatively set to be finalized on Friday, January 12. Refunds are expected to commence on Monday, January 15, with shares credited to the demat accounts of allottees on the same day. The anticipated listing date for IBL Finance shares on NSE SME is Tuesday, January 16.
As outlined in the Draft Red Herring Prospectus (DRHP), the company reported revenues from operations of ₹1330.52 lakhs, ₹327.08 lakhs, and ₹112.59 lakhs for the fiscal years 2023, 2022, and 2021, respectively. The profit before tax for the same periods was ₹274.52 lakhs, ₹56.53 lakhs, and ₹(9.27) lakhs.
**Key Details of IBL Finance IPO:**
– IPO Size: ₹34.30 crore (Entirely a fresh issue of 6,725,000 equity shares with no Offer for Sale – OFS component)
– IPO Dates: January 9, 2024, to January 11, 2024
– IPO Price Band: ₹51 per share
– Lot Size: 2,000 Shares
– Listing Date: January 16, 2024, on NSE SME
**Use of Net Proceeds:**
The net proceeds from the IPO will be utilized for general corporate purposes and to expand the Tier-I capital base, covering the company’s anticipated future capital needs resulting from asset and business growth.
**Registrar and Lead Manager:**
Link Intime India Private Ltd is the registrar for the IBL Finance IPO, and Fedex Securities Pvt Ltd is the book-running lead manager.
**Promoters:**
The promoters of IBL Finance are Manish Patel, Piyush Patel, and Mansukhbhai Patel.
**Grey Market Premium (GMP):**
As per the latest information, the Grey Market Premium for IBL Finance IPO was ₹0, indicating that shares were trading at their issue price of ₹51 with no premium or discount in the grey market, as reported by investorgain.com. The “Grey Market Premium” reflects investors’ readiness to pay more than the issue price.
