Manba Finance added 3.58% to Rs 151.85 after the company announced the signing of a memorandum of understanding (MoU) with Piaggio Vehicles to offer customized financing solutions for three-wheelers.
Piaggio Vehicles (PVPL) is a wholly-owned subsidiary of the Piaggio Group and a prominent manufacturer of small commercial vehicles in India.
The collaboration aims to provide financing solutions to customers, featuring low down payment options, competitive interest rates, and loan tenures of up to four years. It would cover both internal combustion engine (ICE) and electric vehicle (EV) variants.
Under this agreement, Manba Finance and Piaggio Vehicles will form a dedicated central coordination team to oversee the partnerships implementation.
The team will focus on key areas such as product structuring, interest rate optimization, resource allocation, centralized communication, and training to ensure the efficient execution and monitoring of the tie-up.
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Monil Shah, CBO & Director, said: We are proud to collaborate with one of Indias leading 3-wheeler manufacturers, a trusted brand among aspiring entrepreneurs across the country.
This partnership strengthens our footprint in the 3-wheeler segment while enabling us to provide seamless digital lending solutions to our customers.
Manba Finance is a non-banking financial company base layer (NBFC-BL) providing 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 with an AUM size of more than Rs 1,106 crore as on 30 September 2024.
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