IPO : IBL Finance Limited
IBL Finance Limited IPO
IBL Finance is a new-age with fintech based financial services platform that leverages technology and data-science to make lending quick and easy.
We use technology and data-science to make lending quick, simple and hassle-free. We believe traditional ways of lending can exclude those most in need because of outdated, rigid and often inefficient processes. At IBL Finance, we have simplified the lending process with a sharp focus on serving our borrowers’ unique needs and circumstances – offering our customers a truly superior borrowing experience.
| SYMBOL | IBLFL |
| ISSUE TYPE | Fixed Price Issue IPO |
| ISSUE OPENS ON | Tuesday, January 9, 2024 |
| ISSUE CLOSES ON | Thursday, January 11, 2024 |
| ISSUE PRICE | ₹51 per share |
| ISSUE SIZE | Up to Rs.33.41 Crores |
| FACE VALUE | Rs.10 per share |
IBL Finance IPO is a fixed price issue of Rs 33.41 crores. The issue is entirely a fresh issue of 65.5 lakh shares.
IBL Finance IPO opens for subscription on January 9, 2024 and closes on January 11, 2024. The allotment for the IBL Finance IPO is expected to be finalized on Friday, January 12, 2024. IBL Finance IPO will list on NSE SME with tentative listing date fixed as Tuesday, January 16, 2024.
| MINIMUM BID | 2000 shares |
| MINIMUM AMOUNT | Rs.102,000 |
| MAXIMUM BID | 2000 shares |
| MAXIMUM AMOUNT | Rs.102,000 |
| PROMOTER HOLDING | 62.89% (Post-issue) |
| LISTING DATE | Tuesday, January 16, 2024 |
| LISTING AT | NSE-SME |
IBL Finance IPO price is ₹51 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹102,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹204,000.
Objects of the Issue (IBL Finance IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Augmenting the company’s Tier-I capital base to meet the company’s future capital requirements, arising out of the growth of the business and asset; and
- General corporate purposes.
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