IBL Finance IPO Closes Today: Check Subscription Status, GMP Today

IBL Finance IPO: The initial public offering of IBL Finance Limited, which is going to be closed on Thursday, January 11, has so far received a decent response from investors. Till 11:53 am on the final day of bidding on Thursday, the SME IPO received 11.26 times subscription, garnering bids for 6,63,44,000 shares as against 58,90,000 shares on offer.

The IPO was opened for public subscription on Tuesday, January 9. Its price has been fixed at Rs 51 per share.

The IPO allotment will likely take place on January 12, while its shares will be listed on the NSE SME on January 16.

IBL Finance IPO GMP Today

According to market observers, unlisted shares of IBL Finance Limited are trading with zero GMP in the grey market, indicating no listing gains as of now. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

IBL Finance IPO Details

The minimum lot size for an application is 2,000 shares. The minimum amount of investment required by retail investors is Rs 1,02,000.

The IBL Finance IPO is a fixed price issue of Rs 33.41 crore, comprising entirely a fresh issue of 65.5 lakh shares.

Fedex Securities Pvt Ltd is the book-running lead manager of the IBL Finance IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for IBL Finance IPO is Market-Hub Stock Broking.

IBL Finance Limited, which was incorporated in August 2017, is a fintech-based financial services platform that uses technology and data science to make lending easier and faster. IBL Finance is a mobile app that offers instant personal loans up to Rs 50,000 through a completely digital process. Loans can be approved in as fast as under 3 minutes.

As of March 31, 2023, the company has disbursed 1,63,282 personal loans amounting to Rs 7,105.44 lakh. In 2023, the IBL Instant Personal Loan app had 3,81,156 logins. On average, 27,969 users were active on the app every month.

The company proposes to utilise 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.