About IBL Finance Ltd IPO
Established in August 2017, IBL Finance Limited is a financial services platform using technology and data science to simplify and expedite lending. The IBL Finance mobile app offers quick personal loans up to ₹50,000 with a fully digital process, allowing loan approvals in under 3 minutes.
By March 31, 2023, the company had granted 163,282 personal loans totaling ₹7,105.44 lakhs. In 2023, the IBL Instant Personal Loan app saw 381,156 logins, with an average of 27,969 active users each month.
As of August 2023, IBL Finance operates in 7 branches across major cities in Gujarat and Maharashtra.
The company utilizes advanced underwriting algorithms, analyzing data from various sources to create a credit report with over 500 data points. The language used is straightforward and concise to ensure easy comprehension for customers.
As of June 30, 2023, IBL Finance employs 81 full-time staff members.
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Define IPO Allotment and Importants
When a company introduces its IPO, investors across various categories begin applying for shares. The allocation of shares to their Demat & Trading accounts, after the application process, is termed as IPO allotment.
An Initial Public Offer (IPO) is the process of selling securities to the public in the primary market. It stands as the primary source of funds for a company, providing substantial capital with a long or indefinite maturity period. The IPO marks a significant milestone in a business’s growth journey.
IBL Finance IPO Details :
IBL Finance’s Initial Public Offering (IPO) details include an issue size of 6,550,000 shares, amounting to ₹33.41 crore. The entire offering comprises a fresh issue, with 6,550,000 shares at a fixed price through a Fixed Price Issue IPO. The IPO is set to be listed on the NSE SME. Prior to the issue, the shareholding stands at 18,180,650, and post-issue, it increases to 24,730,650. Additionally, a market maker portion of 330,000 shares is part of the offering.