Manba Finance’s AUM surpasses ₹1,200 Crore milestone

29 Nov 2024 , 04:20 PM

On Friday, November 29, Manba Finance Ltd saw a 6% increase in share price after reporting a record Assets Under Management (AUM) of ₹1,200 Crore. However, the stock later pared its gains and was trading 0.41% lower at 12.30 p.m.

The company achieved its best-ever AUM of ₹1,200 Crore due to strong performance over the recent festive season. The company disbursed ₹250 Crore in vehicle loans, the biggest ever for the segment.

Manba Finance, a key player in the two-wheeler vehicle finance sector for over 15 years, has regularly reported a credit loss of less than 1%. The company attributed this achievement to its strong collection infrastructure, which ensures exceptional asset quality. 

The company is now trying to expand its product options by leveraging its network of 71 locations in six states, as well as agreements with over 1,100 dealers, more than 190 of whom specialize in electric vehicles.

After a successful ₹151-Crore IPO in September 2024, the Mumbai-based NBFC was listed on both main stock markets (NSE and BSE).

The IPO, which was offered for subscription from September 23 to September 25, had an unprecedented reaction from investors, with more than 200 subscriptions. The IPO price band ranged from ₹114 to ₹120 per share.

The initial public offering (IPO) comprised primarily of a new issue of 1.25 Crore equity shares, with no offer for sale component.

The company’s sales increased by 44% year on year, while its profit after tax (PAT) increased by 90% in FY24 compared to the previous fiscal year.

For feedback and suggestions, write to us at [e-mail]