| IPO date | 09 Jan 2024 – 11 Jan 2024 |
| Listing date | 16 Jan 2024 |
| Price range | 51 – 51 |
| Minimum order quantity | 2000 | (D)RHP | View |
IBL Finance Limited is launching its IPO. The offer opens for subscription on January 9, 2024, and will close on January 11, 2024.
Disclaimer: This stock will trade with a lot size of 2000 shares in the SME segment on listing.
What does IBL Finance Limited do?
IBL Finance Private Limited, which was established in 2017, changed to a public limited company in 2023, renaming itself “IBL Finance Limited.” Initially focusing on lending to self-employed professionals and small business owners, the company shifted to a fintech-based approach in 2020. Using technology and data science, particularly through its mobile app “IBL: Instant Personal Loan,” the company provides quick and digital personal loans. The digital method assures speedy loan application, approval within minutes, and disbursal within 24 hours.
Up to March 2023, it disbursed over 1,63,282 loans amounting to ₹ 7,105.44 lakhs with an AUM of ₹ 1461.18 lakhs. The loans, with an average size of ₹4500 and a tenure of 5 months, are repaid in EMIs.
The company’s strategy focuses on customer segmentation, data analytics, and tailored product offerings to create a profitable lending business. Transitioning from traditional lending to a fintech approach, they prioritize their “IBL: Instant Personal Loan” app, aiming to transform it into a multi-product platform to enhance customer experience and cross-sell opportunities. By Fiscal 2023, the app had witnessed 3,81,156 logins and an average of 27,969 monthly active users, showcasing its growing traction in the market.
Schedule of IBL Finance Limited IPO
| Issue Period | 9th January to 11th January 2024 |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | January 12, 2024 |
| Initiation of Refunds | January 15, 2024 |
| Credit of Shares | January 15, 2024 |
| Date of Listing | January 16, 2024 |
| Mandate end date | January 26, 2024 |
| Anchor Investors Lock-In End Date (50% of the investment) | February 11, 2024 |
| Anchor Investors Lock-In End Date (Remaining investment) | April 11, 2024 |
Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.
How to apply to the IBL Finance Limited IPO?
You can apply for the IBL Finance Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for IBL Finance Limited IPO?
You can check the allotment status for the IBL Finance Limited IPO on the website of the Registrar and Transfer agent.