Priya Patel
TL;DR:
- IBL Finance IPO has opened for subscription with a price band of ₹51 per share and a lot size of 2,000 shares.
- IBL Finance started offering quick and simple loans through its fintech platform, driven by technology and data science.
IBL Finance IPO
IBL Finance IPO has opened for subscription today (Tuesday, January 9), and will close on Thursday, January 11. The price band for the IPO is ₹51 per share, and the lot size is set at 2,000 shares. IBL Finance provides quick and simple loans through its fintech platform, which is powered by technology and data science.
IBL Finance IPO basis of allotment and listing
The basis of allotment for IBL Finance IPO will be finalized on Friday, January 12, and refunds will be initiated on Monday, January 15. The shares will be credited to the demat accounts of allottees on the same day. The listing of IBL Finance shares on NSE SME is expected to take place on Tuesday, January 16.
IBL Finance IPO details
The IPO of IBL Finance is a fresh issue of 6,550,000 equity shares, with no offer for sale component. The net proceeds of the offering will be used for general corporate purposes and expanding the Tier-I capital base to cover future capital needs. Link Intime India Private Ltd is the registrar for the IPO, and Fedex Securities Pvt Ltd is the book running lead manager. The promoters of IBL Finance are Manish Patel, Piyush Patel, and Mansukhbhai Patel.
IBL Finance IPO subscription status
As of day 1, the subscription status of IBL Finance IPO is 3.60 times. The issue has received positive response from retail investors, with their portion subscribed 5.82 times. Non-institutional buyers’ portion was subscribed 1.11 times.
IBL Finance IPO review
According to Dilip Davda, the contributing editor at Chittorgarh, the company is operating in a highly competitive and fragmented segment of financing self-employed underserved masses with its fintech app. The issue appears aggressively priced based on FY24 annualized super earnings, and the sustainability of margins remains a major concern. Davda recommends skipping the pricey issue.
