IBL Finance IPO: Check GMP, first day subscription status, reviews and other important details

Applications for the IBL Finance IPO will open today (Tuesday, January 9th) and close on Thursday, January 11th. The price range for IBL Finance IPO is set at . INR51 per share, according to the company’s Red Herring Prospectus (RHP). IBL Finance IPO lot size consists of his 2,000 shares. Investors can bid a minimum of 2,000 shares and multiples thereof.

During the year ended March 31, 2019, IBL Finance began lending to self-employed individuals and small business owners. Subsequently, in fiscal 2020, we switched our business to a financial services platform that utilizes fintech.

This fintech company, driven by technology and data science, makes financing fast and easy. The company offers instant personal loans through an almost entirely digital mobile app.

Also read: IBL Finance IPO sets price range as follows INR51 each: Check GMP, important dates, issue details, and more.

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Tentatively, IBL Finance’s IPO-based share allotment will be completed on Friday, January 12, and the company will start disbursing refunds on Monday, January 15, with the shares expected to be credited to the demat accounts of allottees on the same day. . IBL Finance shares are likely to be listed on NSE SME on Tuesday, January 16.

The company’s listed peers according to RHP are MAS Financial Services Ltd (PER 23.43x), Arman Financial Service Ltd (PER 23.64x) and Apollo Finvest (India) Ltd (PER 23.43x). 29.58), CSL Finance Ltd (P/E ratio 21.12), Ugro Capital Ltd (P/E ratio 48.16).

From the financial year ending March 31, 2023 to March 31, 2022, IBL Finance Limited’s revenue grew by 307.59% and its profit after tax (PAT) grew by 351.28%.

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IBL Finance IPO Details

IBL Finance IPO worth it INR33.41 billion shares is an entirely new issuance of 6,550,000 shares. According to RHP, there is no offering-for-sale (OFS) component.

The company plans to use the net proceeds from the initial public offering to: General corporate purposes. Expand our Tier-I capital base to cover anticipated future capital needs due to asset and business growth.

The registrar for IBL Finance IPO is Link Intime India Private Ltd and the book lead manager is Fedex Securities Pvt Ltd.

Manish Patel, Piyush Patel and Mansukhbhai Patel are the promoters of the company.

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IBL Finance IPO Subscription Status

IBL Finance IPO is oversubscribed at 3.60x on Day 1 so far. According to data available on chittorgarh.com, the stock has received a positive response from retail investors, with a portion of his 5.82 subscribers and non-institutional investors, with a portion of his 1.11. Subscribed twice.

According to chittorgarh.com data, the company received bids for 2,12,04,000 shares against 5,890,000 shares on offer at 15:39 IST.

IBL Finance IPO Today’s GMP

IBL Finance IPO gray market premium is INR0, which means the stock is trading at the issue price. INR51 with no premium or discount in the gray market, according to investorgain.com.

A “gray market premium” indicates that investors are willing to pay more than the issue price.

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IBL Finance IPO Review

“The company operates in the highly competitive and fragmented sector of lending to self-employed individuals, which is heavily served by fintech-based apps. Based on FY24 annual super-revenue. The stock appears to be priced aggressively. Margin sustainability will continue to be a major concern. You can safely skip this expensive issue,” says Dilip, Contributing Editor, Chittorgarh・Davda said.

Disclaimer: The opinions and recommendations expressed above are those of individual analysts, experts, and brokerages and not of Mint. We recommend checking with a certified professional before making any investment decisions.