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IBL Finance IPO is a fixed price issue of Rs 33.41 crores. The issue is entirely a fresh issue of 65.5 lakh shares.
IBL Finance IPO bidding started from January 9, 2024 and ended on January 11, 2024. The allotment for IBL Finance IPO was finalized on Friday, January 12, 2024. The shares got listed on NSE SME on 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 Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for IBL Finance IPO is Market-Hub Stock Broking.
Refer to IBL Finance IPO RHP for detailed information.
| IPO Date | January 9, 2024 to January 11, 2024 |
| Listing Date | January 16, 2024 |
| Face Value | ₹10 per share |
| Price | ₹51 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 6,550,000 shares (aggregating up to ₹33.41 Cr) |
| Fresh Issue | 6,550,000 shares (aggregating up to ₹33.41 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,180,650 |
| Share holding post issue | 24,730,650 |
| Market Maker portion | 330,000 shares Market-Hub Stock Broking |
IBL Finance IPO offers 6,550,000 shares. 3,110,000 (47.48%) to NII, 3,110,000 (47.48%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 330,000 (5.04%) |
| Other Shares Offered | 3,110,000 (47.48%) |
| Retail Shares Offered | 3,110,000 (47.48%) |
| Total Shares Offered | 6,550,000 (100%) |
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 |
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 | |||
The Promoters of the company are Manish Patel, Piyush Patel and Mansukhbhai Patel.
| Share Holding Pre Issue | 85.55% |
| Share Holding Post Issue | 62.89% |
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'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 Jul 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,317.60 | 2,218.11 | 1,022.85 | 339.10 |
| Revenue | 492.58 | 1,333.13 | 327.08 | 112.59 |
| Profit After Tax | 120.60 | 192.83 | 42.73 | -9.88 |
| Net Worth | 2,169.34 | 2,048.74 | 355.47 | 312.73 |
| Reserves and Surplus | 351.27 | 1,139.71 | 29.47 | -13.27 |
| Total Borrowing | 7.51 | 9.12 | 640.58 | |
| Amount in ₹ Lakhs | ||||
The market capitalization of IBL Finance IPO is Rs 126.13 Cr.
| KPI | Values |
|---|---|
| ROE | 9.41% |
| ROCE | 18.88% |
| Debt/Equity | 0 |
| RoNW | 9.41% |
| P/BV | 4.18 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.06 | 1.46 |
| P/E (x) | 48.08 | 34.86 |
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
[Dilip Davda] The company is operating in a highly competitive and fragmented segment of financing self-employed under served masses with its fintech based app. Based on FY24 annualized super earnings, the issue appears aggressively priced. The sustainability of margins remains major concern going forward. There is no harm in skipping this pricey issue. Read detail review...
The IBL Finance IPO is subscribed 17.00 times on January 11, 2024 7:29:00 PM. The public issue subscribed 24.03 times in the retail category, times in the QIB category, and 9.94 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 9.94 |
| Retail | 24.03 |
| Total | 17.00 |
Total Application : 37,364 (24.03 times)
| Listing Date | January 16, 2024 |
| BSE Script Code | |
| NSE Symbol | IBLFL |
| ISIN | INE0O7401018 |
| Final Issue Price | ₹51 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹51.00 |
| ₹56.00 |
| ₹56.00 |
| ₹58.80 |
| ₹58.80 |
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/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
SME Company Owners
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IBL Finance IPO is a SME IPO of 6,550,000 equity shares of the face value of ₹10 aggregating up to ₹33.41 Crores. The issue is priced at ₹51 per share. The minimum order quantity is 2000 Shares.
The IPO opens on January 9, 2024, and closes on January 11, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in IBL Finance IPO using UPI as a payment gateway. Zerodha customers can apply in IBL Finance IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in IBL Finance IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The IBL Finance IPO opens on January 9, 2024 and closes on January 11, 2024.
IBL Finance IPO lot size is 2000 Shares, and the minimum amount required is ₹102,000.
You can apply in IBL Finance IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for IBL Finance IPO will be done on Friday, January 12, 2024, and the allotted shares will be credited to your demat account by Monday, January 15, 2024. Check the IBL Finance IPO allotment status.
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