IBL Finance Ltd:
Surat based Instant Loan provider IBL Finance is all set to launch their IPO this week.
IBL is a Non-Banking Financial Company, which provides loans to customers through an app and uses Data Science, to provide loan amounts from Rs. 50,000/- onwards in 3 minutes, using an all digital process.
In 2023, IBL app had a total login of 3,81,156, average monthly users were 27,969.
As of 31st March 2023, the company has dispersed 1,63,282 loans amounting to a total of Rs. 71 crore approx.
The IPO details are as follow:
The IBL Finance IPO entails a fixed-price offering of Rs 33.41 crore, solely consisting of a new issuance of 65.5 lakh shares.
Subscription Period has been set from January 9, 2024, to January 11, 2024
Allotment Finalization will be on January 12, 2024
Tentative Listing Date is January 16, 2024
The IPO has been priced at Rs. 51 per share, with minimum retail lot size of 2000 shares.
For HNI’s, the lot size will be 4000 shares.
Which means retail investors will have to invest a minimum of Rs 102,000,
Whereas HNI’s investors will have to invest a minimum of Rs. Rs 205,000