This recently listed NBFC stock climbed 6% on November 29; key reasons here

Manba Finance share price: Non banking financial company (NBFC) Manba Finance shares soared up to 5.94 per cent to hit an intraday high of Rs 157.70 per share on Friday, November 29, 2024.

 

The rise in the Manba Finance counter came after the company announced that it has achieved the highest ever asset under management (AUM) of Rs 1,200 crore till date.

 

In an exchange filing, Manba Finance, said, “We are happy to inform our Shareholders that Manba Finance Ltd has achieved the highest ever AUM of Rs 1200 crore till date and growing. The company has recently raised Rs 150 crore from IPO in the month of September, 2024 and is listed on both the Stock Exchanges.” 

 

The company claims to be a leader in Auto Finance (two wheeler) for the last 15 years and has a 97 per cent portfolio of secured assets. During the current festive season, the company has disbursed Rs 250 crore of loan in its auto business, which is its highest ever, it added. 

 

Moreover, the company’s credit loss is consistently below 1 per cent, which is lowest in this industry. “This is mainly because of its robust collection infrastructure, ensuring maintenance of the company's asset quality. The company is now focussing on leveraging its existing branch and location set up by adding new products,” Manba Finance said in a statement.

 

Manba Finance listing

 

The shares of Manba Finance made a decent debut on the bourses despite weak market sentiments on September 30, 2024. Manba Finance shares listed at Rs 150 on the BSE, marking a 25 per cent premium over the IPO issue price of Rs 120. On the NSE, the Manba Finance shares listed at a premium of 20.83 per cent at Rs 145. 

 

About Manba Finance

 

Manba Finance is a NBFC– Base Layer (NBFC-BL) offering financial solutions for new two-wheeler (2Ws), three-wheeler (3Ws), electric two-wheeler (EV2Ws), electric three-wheeler (EV3Ws), used cars, small business loans and personal loans. 

 

It provides financial solutions to its target customers with a quick turnaround time (TAT) for loan sanction and disbursement. 

 

The company is headquartered in Mumbai, and operates out of 71 locations connected to 29 branches across six states in western, central and north India. 

 

It has established relationships with more than 1,100 dealers, including more than 190 EV dealers, across Maharashtra, Gujarat, Rajasthan, Chhattisgarh, Madhya Pradesh and Uttar Pradesh. 

 

The market capitalisation of Manba Finance is Rs 751.08 crore, according to BSE. The company falls under the BSE IPO category.

 

At 1:55 PM, Manba Finance shares were trading 0.54 per cent higher at Rs 149.60 per share. In comparison, BSE Sensex was trading 0.95 per cent higher at 79,791.47 levels.