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The initial public offering (IPO) of IBL Finance will open for subscription on January 9 — the first of many in the SME segment. The issue will close on January 11.

Here are 10 things to know about the offer.

As a technology-driven fintech company, IBL Finance leverages data-science to make lending quick and easy. The company through its mobile app provides instant personal loans up to Rs 50,000 with tenors of up to 12 months through an entirely digital mobile app-only process.

2) Industry Overview

India has a diversified financial sector undergoing rapid expansion, both in terms of strong growth of existing financial services firms and new entities entering the market. The sector comprises commercial banks, insurance companies, non-banking financial companies, co-operatives, pension funds, mutual funds and other smaller financial entities.

3) IBL Finance IPO Size

The IPO is entirely a fresh issue of up to 67.25 lakh equity shares aggregating up to Rs 34.3 crore.The company is offering its shares at Rs 51 apiece, and investors can bid for 2,000 shares in one lot.

5) IBL Finance Financial Performance

For the financial 2023, the company clocked revenue of Rs 13.3 crore and net profit of Rs 1.92 crore.

6) IBL Finance IPO Objects of the Offer

The net proceeds from the public offer will be used to augment the company’s tier-1 capital base to meet future capital requirements and general corporate purposes.

Also Read: 5 expected IPOs in January that will spark primary market momentum in 2024

7) IBL Finance IPO Lead Managers and Registrar

Fedex Securities is acting as the lead manager to the issue and Link Intime India is the registrar.

8) IBL Finance IPO Structure

About 50% of the offer is reserved for retail investors, and the remaining 50% for other investors

9) IBL Finance IPO Dates

The IPO will open on January 9 and close on January 11. The final allotment will likely be made on January 12. The company’s shares will likely get listed on January 16.

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