The IBL Finance IPO (Initial Public Offering) is a fundraising event where the company offers a fixed number of shares to the public for subscription at a fixed price of ₹51 per share. The total issue size is ₹34.30 crores, consisting of a fresh issue of 6,725,000 shares. The IPO subscription period is from January 9, 2024, to January 11, 2024.
Here are some key details about the IBL Finance IPO:
**Listing and Allotment:**
– The IPO is set to list on NSE SME with a tentative listing date of January 16, 2024.
– The allotment of shares is expected to be finalized on Friday, January 12, 2024.
**Price and Lot Size:**
– The price per share is ₹51, and the minimum lot size for an application is 2000 shares.
– The minimum investment required for retail investors is ₹102,000.
**Reservation and Book Running Lead Manager:**
– Retail investors and other categories each have a 50% reservation in the net issue.
– Fedex Securities Pvt Ltd is the book running lead manager for the IPO.
**Timeline:**
– The IPO opens on January 9, 2024, and closes on January 11, 2024.
– The basis of allotment is on January 12, 2024.
– Refund initiation and credit of shares to Demat accounts are scheduled for January 15, 2024.
– The listing date is set for January 16, 2024.
**Lot Size Calculator:**
– Retail investors can apply for a minimum of 2000 shares, and High Net Worth Individuals (HNI) have a minimum lot size of 2 lots (4,000 shares).
**Promoter Holding:**
– The promoters of IBL Finance Limited are Manish Patel, Piyush Patel, and Mansukhbhai Patel, holding 85.55% of the shares pre-issue.
**About IBL Finance Limited:**
– Incorporated in August 2017, IBL Finance is a fintech-based financial services platform providing instant personal loans up to ₹50,000 through a digital process.
– The company has experienced significant growth, with a surge in revenue and profit after tax.
– As of August 2023, the company has 7 branches in major cities of Gujarat and Maharashtra and employs 81 full-time employees.
**Financial Information:**
– IBL Finance Limited’s revenue increased by 307.59%, and profit after tax rose by 351.28% between March 31, 2022, and March 31, 2023.
**Key Performance Indicators:**
– Return on Equity (ROE): 9.41%
– Return on Capital Employed (ROCE): 18.88%
– Debt/Equity: 0
– Earnings Per Share (EPS): ₹1.15
**Objects of the Issue:**
– The net proceeds from the IPO will be utilized to augment the company’s Tier-I capital base for future capital requirements and for general corporate purposes.
For more detailed information, you can refer to the IBL Finance IPO DRHP (Draft Red Herring Prospectus).
