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38 announcements match the current filters (relevance ≥ 5).
Manba Finance Allots ₹60 Cr Secured NCDs at 10.50% Coupon on Private Placement Basis
Manba Finance has allotted 60,000 listed, secured, non-convertible debentures (NCDs) of face value ₹10,000 each, raising ₹60 crore on a private placement basis. The issue carries a coupon rate of 10.50% per annum with a tenure of 27 months, maturing on January 12, 2029. The borrowing represents approximately 18.2% of TTM revenue (₹330 crore) and 14.6% of net worth (₹410 crore), providing growth capital for its retail lending book. Repayments of principal and interest are structured on a monthly basis, backed by a 1.10x asset cover over specific receivables.
Confidence: HIGH
What changedManba Finance allotted ₹60 crore in senior secured NCDs following a Finance Committee meeting on October 12, 2026.
Why it mattersProvides liquidity to support loan disbursements and AUM expansion without equity dilution, locked in at a 10.50% borrowing cost.
Issue size: Rs. 60,00,00,000/-Coupon rate: 10.50%Tenure: 27 monthsSecurity cover: 1.10 timesIssue size vs Net Worth: ~14.6%
📅 Short termRoutine liquidity-enhancing debt fundraise for an NBFC; unlikely to move equity prices significantly in the near term.
📈 Long termAids gradual expansion of the retail lending portfolio across target regions, assuming lending yields remain well above the 10.50% borrowing benchmark.
⚠ Risk flags
- Monthly principal and interest servicing obligation creates continuous cash outflow commitments
- 2.00% default interest penalty in the event of overdue payments exceeding three months
Key Highlights
Allotment of 60,000 NCDs aggregating to ₹60,00,00,000 (₹60 crore)
Fixed coupon rate of 10.50% with monthly interest and principal payment schedule
Tenure of 27 months from October 12, 2026, to maturity on January 12, 2029
Secured by exclusive charge over receivables with a minimum asset cover of 1.10x
Proposed to be listed on the Wholesale Debt Market Segment of BSE Limited
👀 What to Watch
Monitor quarterly net interest margins (NIMs) to evaluate whether loan book yields (historically ~23.34%) comfortably absorb the 10.50% cost of debt, as well as monthly repayment execution.
CARE Upgrades Manba Finance Credit Rating to 'A-; Stable' from 'BBB+; Positive'
CARE Ratings has upgraded the credit ratings of Manba Finance Limited's long-term bank facilities (₹500.00 crore) and multiple NCD tranches to 'CARE A-; Stable' from 'CARE BBB+; Positive'. The upgrade reflects a 36.33% CAGR in AUM between FY22 and FY26, reaching ₹1,712.70 crore as of March 31, 2026, and ₹1,730.78 crore as of June 30, 2026. The rating also factors in lower incremental funding costs and an expected capital infusion of ₹99.99 crore via a preferential issue. Ratings remain constrained by moderate asset quality on a stressed-asset basis and portfolio concentration in two-wheelers and Maharashtra.
Confidence: HIGH
What changedCARE upgraded Manba Finance's debt instruments and bank facilities by one notch from 'BBB+' to 'A-' with a Stable outlook.
Why it mattersA transition into the 'A-' rating tier generally enhances lender confidence, broadens institutional debt access, and reduces cost of funds for NBFCs.
Bank facilities rated: ₹500.00 croreAUM as on June 30, 2026: ₹1,730.78 croreExpected capital infusion: ₹99.99 croreDealer network count: 1,7842W share of AUM: 84.15%
📅 Short termPositive sentiment driver for the stock as moving to an 'A-' category improves funding terms and liquidity access.
📈 Long termSupports lower borrowing costs and asset-book scaling; sustained rating stability will depend on managing GNPA under 4.5% and successful product diversification.
⚠ Risk flags
- High geographical and product concentration in Maharashtra and two-wheeler financing (84.15% of AUM)
- Asset quality constraints on a stressed-asset basis, including repossessed vehicles and security receipts
- Limited performance seasoning of the non-2W and unsecured small business loan portfolios
Key Highlights
Long-term bank facilities of ₹500.00 crore and NCDs upgraded to CARE A-; Stable from CARE BBB+; Positive
AUM expanded at a 36.33% CAGR from FY22 to FY26, reaching ₹1,730.78 crore by June 30, 2026
Expectation of ₹99.99 crore capital infusion through preferential issue of equity and warrants
Dealer network grew by over 83% from 974 dealers in March 2024 to 1,784 dealers by June 30, 2026
Two-wheeler financing continues to dominate the portfolio, accounting for 84.15% of AUM as of June 30, 2026
👀 What to Watch
Track the completion of the proposed ₹99.99 crore preferential capital raise and watch upcoming quarterly results to verify if borrowing costs decline following the rating upgrade.
Manba Finance to Raise ₹100 Cr via Equity & Warrants Preferential Issue; EGM on Oct 19
Manba Finance has issued an EGM notice for October 19, 2026, to approve a total fundraise of ₹100 Cr through a preferential issue. The issue comprises up to 50,00,013 equity shares at ₹135 each to non-promoter public investors (₹67.50 Cr) and 24,07,223 fully convertible warrants at ₹135 each to promoters (₹32.50 Cr). The total fundraise of ₹100 Cr represents approximately 14.4% of the company's current market cap of ₹694 Cr and 24.4% of its net worth (₹410 Cr). Additionally, the company seeks to increase its authorized share capital from ₹55 Cr to ₹65 Cr.
Confidence: HIGH
What changedManba Finance has formally scheduled an EGM to approve an aggregate ₹100 Cr capital raise via equity shares to public investors and convertible warrants to promoters.
Why it mattersThe ₹100 Cr infusion bolsters the NBFC's net worth (₹410 Cr) by ~24%, strengthening its capital adequacy ratio to fund target loan portfolio growth across EV and retail financing.
Total fundraise: ₹100 CrFundraise vs Market Cap: ~14.4%Fundraise vs Net Worth: ~24.4%Issue price per share/warrant: ₹135Authorized capital increase: ₹55 Cr to ₹65 Cr
📅 Short termMarket sentiment may be supported by promoter participation in the warrants and an issue price (₹135) pegged near the prevailing market price (₹139.3).
📈 Long termProvides necessary equity tier-1 capital to support the company's projected high-growth phase and geographic expansion into new retail credit verticals.
⚠ Risk flags
- Equity dilution of ~74.07 lakh shares upon full conversion and issuance
- Execution risk in deploying capital at targeted yields without deteriorating asset quality
Key Highlights
Preferential equity issue of up to 50,00,013 shares at ₹135 per share raising ₹67.50 Cr from non-promoters
Preferential warrant issue of up to 24,07,223 warrants at ₹135 per warrant raising ₹32.50 Cr from promoters
Combined capital raise of ₹100.00 Cr, priced near the current market price of ₹139.3
Authorized share capital increased from ₹55.00 Cr to ₹65.00 Cr
EGM scheduled for October 19, 2026, to seek shareholder approval
👀 What to Watch
Track the outcome of shareholder voting at the EGM on October 19, 2026, and monitor subsequent allotment announcements along with the deployment of funds to support AUM expansion.
Manba Finance Allots ₹50 Cr Secured NCDs at 10.65% Coupon
Manba Finance has allotted 50,000 secured, rated, listed, redeemable, taxable Non-Convertible Debentures (NCDs) aggregating to ₹50 crore on a private placement basis on September 24, 2026. The NCDs carry a coupon rate of 10.65% with monthly interest and principal servicing over a tenure of 26 months, maturing on November 24, 2028. The debt raise represents approximately 15.2% of the company's TTM revenue of ₹330 crore and 12.2% of its net worth of ₹410 crore. The debentures are secured by an exclusive hypothecation charge on loan receivables with a 1.10x asset cover.
Confidence: HIGH
What changedManba Finance completed the private placement and allotment of ₹50 crore secured NCDs maturing in November 2028.
Why it mattersProvides liquidity to support lending growth in 2-wheeler and diversified retail loans, aligned with its historical borrowing cost of ~10.67%.
Issue Size: ₹ 50,00,00,000Issue Size vs TTM Revenue: ~15.2%Issue Size vs Net Worth: ~12.2%Coupon Rate: 10.65%Tenure: 26 monthsSecurity Cover: 1.10 times
📅 Short termRoutine liquidity-enhancing event for an NBFC; minimal immediate impact on stock price.
📈 Long termSupports AUM expansion towards company's targeted loan book growth without equity dilution, provided asset quality is sustained.
⚠ Risk flags
- Monthly principal and interest servicing requires steady collections
- Fixed 10.65% cost of debt exposes margins if retail lending yields compress
Key Highlights
Issue size of ₹50,00,00,000 across 50,000 NCDs of face value ₹10,000 each
Coupon rate fixed at 10.65% per annum with monthly payments
Tenure of 26 months starting September 24, 2026, and maturing November 24, 2028
Security cover of 1.10 times on outstanding principal and coupon
Default interest penalty set at 2.00% over the coupon rate
👀 What to Watch
Track the deployment of funds into lending disbursements and monitor if the 10.65% borrowing cost impacts the company's net interest margin (NIM) in upcoming quarterly results.
Manba Finance Approves ₹99.99 Cr Preferential Issue; Promoters Commit ₹32.49 Cr
Manba Finance's board has approved raising ₹99.99 crore via a preferential issue of securities, equivalent to ~14.4% of its current market cap (₹695 crore). The raise includes ₹67.50 crore of equity shares to non-promoter marquee investors and ₹32.49 crore of convertible warrants to the promoter group. The fresh capital will support balance sheet growth across vehicle and retail lending products as AUM crosses ₹1,700 crore. The issuance remains subject to shareholder and statutory approvals.
Confidence: HIGH
What changedThe board approved a ₹99.99 crore preferential capital raise, bringing in marquee non-promoter investors and additional promoter capital.
Why it mattersThe capital injection will expand the net worth base (~₹410 crore), bolstering CRAR, supporting credit rating upgrades, and funding loan book expansion across 130+ locations.
Total fundraise: ₹99.99 crorePromoter warrant commitment: ₹32.49 croreNon-promoter equity issue: ₹67.50 croreFundraise vs Market Cap: ~14.4%Assets under management (AUM): over ₹1,700 crore
📅 Short termPositive sentiment driven by promoter participation and institutional backing, pending shareholder voting outcomes.
📈 Long termStrengthens capital adequacy to accelerate loan book growth in core two-wheeler, EV, and small business loan segments.
⚠ Risk flags
- Equity dilution for existing public shareholders
- Subject to shareholder and regulatory approvals
Key Highlights
Board approved ₹99.99 crore fundraise via preferential issue (~14.4% of market cap)
Promoters committed ₹32.49 crore through warrants, the largest single commitment
Non-promoter investors to be allotted equity shares worth ₹67.50 crore
Company currently operates across 130+ locations with AUM exceeding ₹1,700 crore
👀 What to Watch
Track the upcoming extraordinary general meeting (EGM) or postal ballot notice for shareholder approval and exact issue pricing details.
Manba Finance to Raise up to ₹100 Crore via Preferential Issue of Shares and Warrants at ₹135
Manba Finance's board has approved a preferential issue of equity shares and convertible warrants to raise up to ₹99.99 crore at an issue price of ₹135 per security (including a ₹125 premium). The fundraise represents ~14.7% of its current market cap (₹680 crore) and ~24.4% of its net worth (₹410 crore). Of the total, ₹67.50 crore will be raised from public investors via 50.00 lakh equity shares, while ₹32.50 crore will be raised from promoters via 24.07 lakh warrants (25% payable upfront). Additionally, the board approved an increase in authorized share capital from ₹55 crore to ₹65 crore and re-appointed key management personnel.
Confidence: HIGH
What changedThe board approved a ₹100 crore capital raise via shares and promoter warrants at ₹135/share, alongside an authorized capital increase and executive re-appointments.
Why it mattersProvides fresh equity Tier-1 capital to support loan book growth, expand geographical presence, and lower leverage without changing operational management control.
Total fundraise value: ₹99,99,76,860Fundraise vs Market Cap: ~14.7%Fundraise vs Net Worth: ~24.4%Issue price per unit: ₹135Equity shares to public: 50,00,013Warrants to promoters: 24,07,223
📅 Short termThe issue price of ₹135 is roughly in line with the current market price of ₹136.4, providing price support as promoter commitment is demonstrated via warrant subscriptions.
📈 Long termStrengthens the balance sheet and capital adequacy, enabling Manba Finance to accelerate AUM expansion in target segments like EV and used vehicle financing.
⚠ Risk flags
- Equity dilution of ~74.07 lakh shares (~14.7% on current base) upon full conversion of warrants
- Subject to shareholder approval and regulatory clearances from stock exchanges
Key Highlights
Preferential issuance of securities aggregating up to ₹99,99,76,860 at ₹135 per unit (face value ₹10 + ₹125 premium)
Non-promoter/public investors allotted 50,00,013 equity shares aggregating up to ₹67.50 crore
Promoters allotted 24,07,223 convertible warrants aggregating up to ₹32.50 crore, exercisable within 18 months
Authorized share capital increased from ₹55 crore to ₹65 crore to accommodate the dilution
Proceeds to be utilized to meet funding requirements for lending and financing activities
👀 What to Watch
Track shareholder approval at the ensuing Extraordinary General Meeting (EGM) and stock exchange in-principle approvals for the preferential issue.
Manba Finance to Raise up to ₹100 Crore via Preferential Issue of Shares and Warrants at ₹135
Manba Finance's board has approved a preferential issue of equity shares and convertible warrants to raise up to ₹99.99 crore at an issue price of ₹135 per security (including a ₹125 premium). The fundraise represents ~14.7% of its current market cap (₹680 crore) and ~24.4% of its net worth (₹410 crore). Of the total, ₹67.50 crore will be raised from public investors via 50.00 lakh equity shares, while ₹32.50 crore will be raised from promoters via 24.07 lakh warrants (25% payable upfront). Additionally, the board approved an increase in authorized share capital from ₹55 crore to ₹65 crore and re-appointed key management personnel.
Confidence: HIGH
What changedThe board approved a ₹100 crore capital raise via shares and promoter warrants at ₹135/share, alongside an authorized capital increase and executive re-appointments.
Why it mattersProvides fresh equity Tier-1 capital to support loan book growth, expand geographical presence, and lower leverage without changing operational management control.
Total fundraise value: ₹99,99,76,860Fundraise vs Market Cap: ~14.7%Fundraise vs Net Worth: ~24.4%Issue price per unit: ₹135Equity shares to public: 50,00,013Warrants to promoters: 24,07,223
📅 Short termThe issue price of ₹135 is roughly in line with the current market price of ₹136.4, providing price support as promoter commitment is demonstrated via warrant subscriptions.
📈 Long termStrengthens the balance sheet and capital adequacy, enabling Manba Finance to accelerate AUM expansion in target segments like EV and used vehicle financing.
⚠ Risk flags
- Equity dilution of ~74.07 lakh shares (~14.7% on current base) upon full conversion of warrants
- Subject to shareholder approval and regulatory clearances from stock exchanges
Key Highlights
Preferential issuance of securities aggregating up to ₹99,99,76,860 at ₹135 per unit (face value ₹10 + ₹125 premium)
Non-promoter/public investors allotted 50,00,013 equity shares aggregating up to ₹67.50 crore
Promoters allotted 24,07,223 convertible warrants aggregating up to ₹32.50 crore, exercisable within 18 months
Authorized share capital increased from ₹55 crore to ₹65 crore to accommodate the dilution
Proceeds to be utilized to meet funding requirements for lending and financing activities
👀 What to Watch
Track shareholder approval at the ensuing Extraordinary General Meeting (EGM) and stock exchange in-principle approvals for the preferential issue.
Manba Finance to Raise up to ₹100 Crore via Preferential Issue of Shares and Warrants at ₹135
Manba Finance's board has approved a preferential issue of equity shares and convertible warrants to raise up to ₹99.99 crore at an issue price of ₹135 per security (including a ₹125 premium). The fundraise represents ~14.7% of its current market cap (₹680 crore) and ~24.4% of its net worth (₹410 crore). Of the total, ₹67.50 crore will be raised from public investors via 50.00 lakh equity shares, while ₹32.50 crore will be raised from promoters via 24.07 lakh warrants (25% payable upfront). Additionally, the board approved an increase in authorized share capital from ₹55 crore to ₹65 crore and re-appointed key management personnel.
Confidence: HIGH
What changedThe board approved a ₹100 crore capital raise via shares and promoter warrants at ₹135/share, alongside an authorized capital increase and executive re-appointments.
Why it mattersProvides fresh equity Tier-1 capital to support loan book growth, expand geographical presence, and lower leverage without changing operational management control.
Total fundraise value: ₹99,99,76,860Fundraise vs Market Cap: ~14.7%Fundraise vs Net Worth: ~24.4%Issue price per unit: ₹135Equity shares to public: 50,00,013Warrants to promoters: 24,07,223
📅 Short termThe issue price of ₹135 is roughly in line with the current market price of ₹136.4, providing price support as promoter commitment is demonstrated via warrant subscriptions.
📈 Long termStrengthens the balance sheet and capital adequacy, enabling Manba Finance to accelerate AUM expansion in target segments like EV and used vehicle financing.
⚠ Risk flags
- Equity dilution of ~74.07 lakh shares (~14.7% on current base) upon full conversion of warrants
- Subject to shareholder approval and regulatory clearances from stock exchanges
Key Highlights
Preferential issuance of securities aggregating up to ₹99,99,76,860 at ₹135 per unit (face value ₹10 + ₹125 premium)
Non-promoter/public investors allotted 50,00,013 equity shares aggregating up to ₹67.50 crore
Promoters allotted 24,07,223 convertible warrants aggregating up to ₹32.50 crore, exercisable within 18 months
Authorized share capital increased from ₹55 crore to ₹65 crore to accommodate the dilution
Proceeds to be utilized to meet funding requirements for lending and financing activities
👀 What to Watch
Track shareholder approval at the ensuing Extraordinary General Meeting (EGM) and stock exchange in-principle approvals for the preferential issue.
Manba Finance to Raise up to ₹100 Crore via Preferential Issue of Shares and Warrants at ₹135
Manba Finance's board has approved a preferential issue of equity shares and convertible warrants to raise up to ₹99.99 crore at an issue price of ₹135 per security (including a ₹125 premium). The fundraise represents ~14.7% of its current market cap (₹680 crore) and ~24.4% of its net worth (₹410 crore). Of the total, ₹67.50 crore will be raised from public investors via 50.00 lakh equity shares, while ₹32.50 crore will be raised from promoters via 24.07 lakh warrants (25% payable upfront). Additionally, the board approved an increase in authorized share capital from ₹55 crore to ₹65 crore and re-appointed key management personnel.
Confidence: HIGH
What changedThe board approved a ₹100 crore capital raise via shares and promoter warrants at ₹135/share, alongside an authorized capital increase and executive re-appointments.
Why it mattersProvides fresh equity Tier-1 capital to support loan book growth, expand geographical presence, and lower leverage without changing operational management control.
Total fundraise value: ₹99,99,76,860Fundraise vs Market Cap: ~14.7%Fundraise vs Net Worth: ~24.4%Issue price per unit: ₹135Equity shares to public: 50,00,013Warrants to promoters: 24,07,223
📅 Short termThe issue price of ₹135 is roughly in line with the current market price of ₹136.4, providing price support as promoter commitment is demonstrated via warrant subscriptions.
📈 Long termStrengthens the balance sheet and capital adequacy, enabling Manba Finance to accelerate AUM expansion in target segments like EV and used vehicle financing.
⚠ Risk flags
- Equity dilution of ~74.07 lakh shares (~14.7% on current base) upon full conversion of warrants
- Subject to shareholder approval and regulatory clearances from stock exchanges
Key Highlights
Preferential issuance of securities aggregating up to ₹99,99,76,860 at ₹135 per unit (face value ₹10 + ₹125 premium)
Non-promoter/public investors allotted 50,00,013 equity shares aggregating up to ₹67.50 crore
Promoters allotted 24,07,223 convertible warrants aggregating up to ₹32.50 crore, exercisable within 18 months
Authorized share capital increased from ₹55 crore to ₹65 crore to accommodate the dilution
Proceeds to be utilized to meet funding requirements for lending and financing activities
👀 What to Watch
Track shareholder approval at the ensuing Extraordinary General Meeting (EGM) and stock exchange in-principle approvals for the preferential issue.
Manba Finance to Raise up to ₹100 Crore via Preferential Issue of Shares and Warrants at ₹135
Manba Finance's board has approved a preferential issue of equity shares and convertible warrants to raise up to ₹99.99 crore at an issue price of ₹135 per security (including a ₹125 premium). The fundraise represents ~14.7% of its current market cap (₹680 crore) and ~24.4% of its net worth (₹410 crore). Of the total, ₹67.50 crore will be raised from public investors via 50.00 lakh equity shares, while ₹32.50 crore will be raised from promoters via 24.07 lakh warrants (25% payable upfront). Additionally, the board approved an increase in authorized share capital from ₹55 crore to ₹65 crore and re-appointed key management personnel.
Confidence: HIGH
What changedThe board approved a ₹100 crore capital raise via shares and promoter warrants at ₹135/share, alongside an authorized capital increase and executive re-appointments.
Why it mattersProvides fresh equity Tier-1 capital to support loan book growth, expand geographical presence, and lower leverage without changing operational management control.
Total fundraise value: ₹99,99,76,860Fundraise vs Market Cap: ~14.7%Fundraise vs Net Worth: ~24.4%Issue price per unit: ₹135Equity shares to public: 50,00,013Warrants to promoters: 24,07,223
📅 Short termThe issue price of ₹135 is roughly in line with the current market price of ₹136.4, providing price support as promoter commitment is demonstrated via warrant subscriptions.
📈 Long termStrengthens the balance sheet and capital adequacy, enabling Manba Finance to accelerate AUM expansion in target segments like EV and used vehicle financing.
⚠ Risk flags
- Equity dilution of ~74.07 lakh shares (~14.7% on current base) upon full conversion of warrants
- Subject to shareholder approval and regulatory clearances from stock exchanges
Key Highlights
Preferential issuance of securities aggregating up to ₹99,99,76,860 at ₹135 per unit (face value ₹10 + ₹125 premium)
Non-promoter/public investors allotted 50,00,013 equity shares aggregating up to ₹67.50 crore
Promoters allotted 24,07,223 convertible warrants aggregating up to ₹32.50 crore, exercisable within 18 months
Authorized share capital increased from ₹55 crore to ₹65 crore to accommodate the dilution
Proceeds to be utilized to meet funding requirements for lending and financing activities
👀 What to Watch
Track shareholder approval at the ensuing Extraordinary General Meeting (EGM) and stock exchange in-principle approvals for the preferential issue.
Manba Finance Allots ₹90 Cr Secured NCDs at 10.60% Coupon on Private Placement
Manba Finance Limited has completed the allotment of 9,000 rated, secured, redeemable Non-Convertible Debentures (NCDs) aggregating to ₹90.00 crore on a private placement basis. The NCDs carry a fixed coupon of 10.60% p.a. with a tenure of 27 months and 4 days, maturing on November 28, 2028. The instrument entails quarterly principal and interest repayments and is secured by a 1.1x first-ranking charge over receivables. The borrowing equals ~22% of the company's net worth (₹410 Cr) and ~13.8% of market capitalization, augmenting liquidity for loan originations.
Confidence: HIGH
What changedAllotted ₹90.00 crore worth of 10.60% secured NCDs on a private placement basis.
Why it mattersSecures medium-term wholesale debt funding at 10.60% (aligned with historical borrowing costs) to support the NBFC's retail loan portfolio expansion.
Issue Size: ₹90.00 CrCoupon Rate: 10.60%Maturity Date: 28-11-2028Issue vs Net Worth: ~22.0%Issue vs Market Cap: ~13.8%
📅 Short termProvides adequate liquidity to finance near-term vehicle and retail loan originations without causing equity dilution.
📈 Long termReflects standard liability management and debt diversification essential for sustaining target AUM growth for an NBFC.
⚠ Risk flags
- Quarterly amortisation of principal requires steady loan collection cash flows
- Penal interest of 2.00% per annum over coupon rate applies in case of payment defaults
Key Highlights
Allotted 9,000 secured NCDs of ₹1,00,000 face value each, raising ₹90.00 crore
Fixed coupon rate set at 10.60% per annum with quarterly interest and principal repayments
Tenure of 27 months and 4 days, with final maturity scheduled for November 28, 2028
Asset cover secured by 1.1x first ranking charge on hypothecated book debts
👀 What to Watch
Monitor quarterly loan book disbursement growth and net interest margins (NIMs) in upcoming earnings to evaluate deployment efficiency of the newly raised debt.
Manba Finance Q1 FY27: 36% PAT Growth to ₹13 Cr, Targets 35-40% AUM Growth
Manba Finance reported a strong Q1 FY27 with PAT rising 36% YoY to ₹13 Cr and Net Interest Income (NII) growing 36% to ₹42 Cr. Assets Under Management (AUM) reached ₹1,731 Cr, up 22% YoY, with management providing an aggressive growth guidance of 35-40% for the full year. The company is actively diversifying its portfolio, launching MSME Loan Against Property (LAP) and EV battery replacement financing. Geographically, it has entered the South Indian market starting with Karnataka through a strategic partnership.
Confidence: HIGH
What changedThe company has officially entered the South Indian market and diversified its product mix by launching secured MSME LAP and EV battery replacement loans.
Why it mattersThis marks a transition from a regional 2-wheeler financier to a multi-product, multi-state NBFC, potentially reducing geographic and product concentration risks.
Q1 FY27 PAT: ₹13 CrAUM as of June 2026: ₹1,731 CrAUM Growth Guidance: 35-40%Cost of Borrowing: 10.86%Capital Adequacy Ratio: 24.40%2-Wheeler Portfolio Concentration: 84.1%
📅 Short termThe stock may react positively to the strong 36% bottom-line growth and the declaration of an interim dividend of ₹0.25 per share.
📈 Long termThe structural shift toward a national footprint and diversified loan book (MSME/EV) could lead to a re-rating if the company maintains its 23%+ yields while managing NPAs in new territories.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High concentration in the 2-wheeler segment (84%)
- Execution risk in new South Indian markets
- Relatively high borrowing cost at 10.86%
Key Highlights
Profit After Tax (PAT) increased 36% YoY to ₹13 Cr for the quarter ended June 30, 2026
AUM grew 22% YoY to ₹1,731 Cr, with a target to reach 35-40% growth by FY27 end
Asset quality remains stable with Gross NPA at 3.41% and Net NPA at 2.52%
Entered South Indian market via Karnataka through a partnership with Sreesastha (Nammaloan)
Maintains high operational efficiency with 60% of loans sanctioned in under 1 minute
👀 What to Watch
Monitor the ramp-up of the new MSME LAP and EV battery financing products, as these represent a shift toward more diversified lending. Watch for the execution of the South India expansion and its impact on credit costs in the coming quarters.
35.7% PAT Growth in Q1 FY27; AUM Reaches Rs 1,731 Cr
Manba Finance reported a strong Q1 FY27 with PAT growing 35.7% YoY to Rs 13.3 Cr. Total AUM increased 22.3% YoY to Rs 1,730.8 Cr, supported by a 36.9% surge in disbursements to Rs 226.3 Cr. Asset quality remained stable with GNPA at 3.41% and NNPA at 2.52%, while the company maintained high yields of 23.32% and a healthy NIM of 12.13%. The company is actively diversifying its portfolio, though 2-wheelers still constitute 84.1% of the AUM.
Confidence: HIGH
What changedThe company released its Q1 FY27 investor presentation, detailing strong double-digit growth in profitability and assets under management.
Why it mattersThe results confirm Manba's ability to maintain high yields and growth momentum post-listing, while showing early signs of successful geographic and product diversification.
Q1 FY27 PAT: Rs 13.3 CrAUM: Rs 1,730.8 CrNet Interest Margin: 12.13%GNPA: 3.41%Q1 PAT vs TTM PAT: 29.5%Cost of Borrowings: 10.86%
📅 Short termThe stock may see positive sentiment due to the robust 35%+ profit growth and stable asset quality metrics reported for the first quarter.
📈 Long termStructural growth depends on the company's ability to scale its MSME and Used Car verticals to mitigate risks associated with the cyclical 2-wheeler market.
⚠ Risk flags
- High product concentration in 2-wheelers (84.1% of AUM)
- Relatively high cost of borrowings at 10.86%
- Geographic concentration in 7 states
Key Highlights
PAT increased 35.7% YoY to Rs 13.3 Cr in Q1 FY27 compared to Rs 9.8 Cr in Q1 FY26
Total AUM grew 22.3% YoY to Rs 1,730.8 Cr from Rs 1,415.4 Cr
Disbursements for the quarter rose 36.9% YoY to Rs 226.3 Cr
Net Interest Margin (NIM) stood at 12.13% with an average yield on AUM of 23.32%
Dealer network expanded significantly to 1,784 from 1,258 in the previous year
👀 What to Watch
Watch for the execution of the diversification strategy into MSME and Used Car loans to reduce the 84.1% dependency on the 2-wheeler segment and monitor if borrowing costs (10.86%) can be optimized.
Q1 FY27: PAT up 36% to ₹13.3 Cr; AUM grows 22% to ₹1,731 Cr; ₹0.25 Dividend declared
Manba Finance reported a strong start to FY27 with Profit After Tax (PAT) rising 36% YoY to ₹13.3 Cr. Revenue from operations grew 34.2% YoY to ₹92.6 Cr, while Assets Under Management (AUM) reached ₹1,730.8 Cr, a 22.28% increase. Asset quality showed marginal improvement with GNPA at 3.41% compared to 3.47% in the previous year. The company also announced its first geographic expansion into South India and declared an interim dividend of ₹0.25 per share.
Confidence: HIGH
What changedManba Finance has reported strong double-digit growth in Q1 FY27 and initiated a strategic expansion into South India, moving beyond its traditional six-state footprint.
Why it mattersThe results demonstrate the company's ability to scale its vehicle-financing model profitably while maintaining a healthy capital adequacy ratio of 24.40% and improving asset quality.
Revenue (Q1 FY27): ₹92.6 CrPAT (Q1 FY27): ₹13.3 CrAUM: ₹1,730.8 CrGNPA: 3.41%Interim Dividend: ₹0.25 per shareAUM Growth Guidance: 35-40%
📅 Short termThe stock is likely to react positively to the earnings beat, the dividend declaration, and the entry into new high-growth markets in South India.
📈 Long termThe company is structurally positioning itself as a pan-India player with a diversified product mix (EV, used cars, small business loans), which could lead to a re-rating if growth targets are met.
⚠ Risk flags
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- Execution risk in new geographic territories
- Sensitivity to interest rate volatility affecting borrowing costs
Key Highlights
Revenue from operations increased 34.2% YoY to ₹92.6 Cr from ₹69.0 Cr.
Profit After Tax (PAT) grew 36% YoY to ₹13.3 Cr, with EPS rising to ₹2.64 from ₹1.94.
AUM reached ₹1,730.8 Cr, up 22.28% YoY, with a management guidance of 35-40% growth for FY27.
Net Interest Income (NII) grew 36% YoY to ₹41.6 Cr, reflecting strong yield management.
Asset quality improved with Net Stage 3 (NNPA) at 2.52% vs 2.64% YoY.
👀 What to Watch
Investors should monitor the execution of the South India expansion (Karnataka and Tamil Nadu) and the performance of new products like EV battery replacement financing to see if they maintain the guided 35-40% AUM growth.
₹0.25 Dividend and 36% PAT Growth to ₹13.26 Cr in Q1 FY27 for Manba Finance
Manba Finance reported a strong start to FY27 with Profit After Tax (PAT) rising 36% YoY to ₹13.26 Cr for the quarter ended June 30, 2026. Total revenue from operations grew 38% YoY to ₹92.61 Cr, driven by robust interest income. The Board declared a first interim dividend of ₹0.25 per share, with a record date of August 7, 2026. Despite finance costs increasing 34% YoY to ₹43.52 Cr, the company achieved an improved EPS of ₹2.64 compared to ₹1.94 in the same quarter last year.
Confidence: HIGH
What changedThe company reported strong Q1 FY27 results and initiated an interim dividend payout for the new financial year.
Why it mattersThe results demonstrate Manba's ability to scale its retail lending portfolio profitably while maintaining a consistent dividend policy for shareholders.
Q1 FY27 PAT: ₹13.26 CrYoY Revenue Growth: 38.2%Interim Dividend: ₹0.25 per shareRecord Date: August 7, 2026Q1 PAT vs TTM PAT: 29.5%
📅 Short termThe stock is likely to react positively to the earnings growth and the dividend announcement in the coming days.
📈 Long termThe company's strategy of geographic expansion and product diversification into EV and used car financing remains the primary structural growth driver.
⚠ Risk flags
- Rising finance costs (up 34% YoY)
- Potential margin compression if borrowing costs increase further
Key Highlights
Net Profit increased 36% YoY to ₹13.26 Cr in Q1 FY27 from ₹9.75 Cr in Q1 FY26
Total Revenue from operations rose 38% YoY to ₹92.61 Cr
Declared an interim dividend of ₹0.25 per equity share of face value ₹10
Finance costs rose to ₹43.52 Cr from ₹32.39 Cr YoY, reflecting higher borrowing for AUM growth
Basic EPS for the quarter improved to ₹2.64 from ₹1.94 YoY
👀 What to Watch
Monitor the sustainability of the 38% revenue growth and the impact of the 10.67% borrowing cost on Net Interest Margins (NIM) as the company expands into EV and personal loan segments.
Rs 0.25 Interim Dividend Declared; Q1 PAT Grows 36% YoY to Rs 13.26 Cr
Manba Finance reported a strong start to FY27 with Q1 Profit After Tax (PAT) rising 36% YoY to Rs 13.26 Cr, up from Rs 9.75 Cr in the previous year. Total revenue from operations grew 38.2% YoY to Rs 92.61 Cr, driven by a significant increase in interest income to Rs 85.12 Cr. The Board has declared a first interim dividend of Rs 0.25 per share (2.5% of face value) for FY27. The company continues to scale its operations, with Q1 revenue already representing approximately 28% of its TTM revenue.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial performance and initiated dividend payments for the new fiscal year.
Why it mattersStrong double-digit growth in revenue and profit validates the company's expansion strategy; the dividend signals management confidence in cash flows and capital adequacy.
Q1 PAT: Rs 13.26 CrQ1 Revenue: Rs 92.61 CrYoY PAT Growth: 36%Dividend per share: Rs 0.25Q1 Revenue vs TTM Revenue: 28.06%
📅 Short termThe stock may see positive momentum in the coming days due to the earnings beat and the upcoming dividend record date of August 7.
📈 Long termStructural growth is evident as the company scales its AUM and diversifies its product mix beyond 2-wheelers into EV and personal loans.
⚠ Risk flags
- Rising finance costs (Rs 43.52 Cr in Q1 vs Rs 32.39 Cr YoY)
- Potential impact of interest rate volatility on borrowing costs
Key Highlights
Net Profit for Q1 FY27 increased to Rs 13.26 Cr from Rs 9.75 Cr in Q1 FY26
Total Revenue from operations rose 38.2% YoY to Rs 92.61 Cr
First Interim Dividend declared at Rs 0.25 per equity share of Rs 10 face value
Interest income grew to Rs 85.12 Cr from Rs 63.04 Cr in the previous year's quarter
Record date for dividend eligibility is fixed as August 7, 2026
👀 What to Watch
Monitor the company's ability to maintain its 12.56% Net Interest Margin (NIM) as it expands into new geographies like Uttar Pradesh and diversifies into EV financing.
₹0.25 Interim Dividend and 36% PAT Growth in Q1 FY27 for Manba Finance
Manba Finance reported a strong start to FY27 with Profit After Tax (PAT) rising 36% YoY to ₹13.26 Cr for the quarter ended June 30, 2026. Total income grew 34.2% YoY to ₹92.61 Cr, supported by robust interest income. The Board declared a first interim dividend of ₹0.25 per share, with a record date of August 7, 2026. Despite a 34% increase in finance costs to ₹43.52 Cr, the company maintained profitability with EPS improving to ₹2.64 from ₹1.94 YoY.
Confidence: HIGH
What changedThe company has reported its Q1 FY27 financial results and initiated its first interim dividend for the current fiscal year.
Why it mattersThe results demonstrate sustained double-digit growth in the retail lending segment and a consistent ability to scale revenue despite rising interest expenses.
Q1 PAT Growth (YoY): 36%Q1 Revenue Growth (YoY): 34.2%Interim Dividend: ₹0.25 per shareRecord Date: August 7, 2026Finance Costs (Q1): ₹43.52 Cr
📅 Short termThe stock is likely to react positively to the strong earnings growth and the dividend announcement in the coming weeks.
📈 Long termThe company's focus on diversifying into EV financing and used car loans, alongside geographic expansion, supports a long-term growth trajectory.
⚠ Risk flags
- Rising finance costs which could compress margins if interest rates remain high
- Geographic concentration in Maharashtra and Gujarat
Key Highlights
Net Profit increased 36% YoY to ₹13.26 Cr for the quarter ended June 30, 2026
Total Income rose 34.2% YoY to ₹92.61 Cr from ₹69.02 Cr in the previous year
Declared First Interim Dividend of ₹0.25 per equity share (2.5% of face value)
Basic EPS grew to ₹2.64 from ₹1.94 in the corresponding quarter of the previous year
Finance costs rose to ₹43.52 Cr, representing approximately 47% of total income
👀 What to Watch
Investors should monitor the impact of rising borrowing costs on Net Interest Margins (NIM) and track the execution of the geographic expansion strategy into new states like Uttar Pradesh.
Manba Finance Q1 PAT Rises 36% YoY to ₹13.26 Cr; Declares ₹0.25 Interim Dividend
Manba Finance reported a strong start to FY27 with total income rising 34.2% YoY to ₹92.61 Cr. Net profit followed suit, growing 36% YoY to ₹13.26 Cr, driven by robust interest income of ₹85.12 Cr. The company declared its first interim dividend of ₹0.25 per share for FY27, with a record date of August 7, 2026. Despite growth, finance costs remained high at ₹43.52 Cr, and impairment charges for the quarter stood at ₹7.91 Cr.
Confidence: HIGH
What changedThe company has reported its first quarter results for FY27, showing significant YoY growth in profitability and initiating an interim dividend payout.
Why it mattersThe results validate the company's technology-led growth strategy and its ability to scale its retail lending portfolio (2-wheelers, EV, and personal loans) profitably.
Revenue (Q1 FY27): ₹92.61 CrPAT (Q1 FY27): ₹13.26 CrYoY Revenue Growth: 34.2%Interim Dividend: ₹0.25 per shareEPS (Q1 FY27): ₹2.64
📅 Short termThe stock is likely to react positively to the strong earnings growth and the dividend announcement in the coming weeks.
📈 Long termThe company's focus on diversifying into EV financing and used cars, combined with geographic expansion, supports a structural growth narrative if asset quality is maintained.
⚠ Risk flags
- Rising finance costs (₹43.52 Cr) which could pressure margins
- Credit risk associated with rapid expansion into new geographies
Key Highlights
Total income grew 34.2% YoY to ₹92.61 Cr for the quarter ended June 30, 2026.
Net profit increased to ₹13.26 Cr from ₹9.75 Cr in the same quarter last year.
Declared a first interim dividend of ₹0.25 per equity share (2.5% of face value).
Basic EPS improved to ₹2.64 from ₹1.94 YoY.
Finance costs for the quarter were ₹43.52 Cr, compared to ₹32.39 Cr in the previous year's quarter.
👀 What to Watch
Investors should monitor the company's ability to maintain Net Interest Margins (NIMs) as borrowing costs rise, and track the progress of geographic expansion into states like Uttar Pradesh.
Manba Finance Enters EV Battery Financing; Launches Loans for Electric Three-Wheelers
Manba Finance has launched a specialized 'Battery Replacement Financing' product for electric three-wheelers (e-rickshaws and e-carts). This product addresses the single largest recurring expense for EV operators—lithium-ion battery replacement—through small-ticket, short-tenure loans. The company will initially roll this out to its existing customer base before a wider market launch. With an updated AUM of over ‡1,700 crore and a network of 130+ locations, this move deepens Manba's footprint in the high-yield EV ecosystem.
Confidence: HIGH
What changedManba Finance has diversified its lending portfolio by adding a specific battery replacement loan, moving from just vehicle acquisition to lifecycle financing.
Why it mattersThis product targets a niche, underserved market with potentially high yields and helps retain existing customers by ensuring their income-generating assets (EVs) remain operational.
Current AUM: ‡1,700 crTotal Locations: 130+Dealer Network: 1,500+AUM vs Market Cap: ~244%Loan Sanction Speed: < 15 minutes
📅 Short termThe announcement is likely to be viewed positively as it demonstrates product innovation and deeper penetration into the EV financing space.
📈 Long termThis represents a structural shift toward financing recurring EV components, which could provide a steady stream of high-yield, small-ticket loans as the EV fleet ages.
⚠ Risk flags
- Credit risk associated with small-ticket loans to the unorganized e-rickshaw sector
- Dependency on quality-certified battery OEMs
Key Highlights
New product targets the recurring lithium-ion battery replacement market for e-3Ws, which has a shorter life than the vehicle.
Company AUM has grown to over ‡1,700 crore, compared to ‡1,331.45 crore reported in previous filings.
Distribution network expanded to 130+ locations and 1,500+ dealers across 6 states.
Technology-led process enables digital onboarding and e-mandate based repayments for fast turnaround.
Strategic focus on 'lifecycle financing' to protect customer livelihoods and ensure vehicle uptime.
👀 What to Watch
Watch for the impact of this product on Net Interest Margins (NIMs) and asset quality (NPAs) within the e-3W segment over the next 2-3 quarters as the phased rollout progresses.
Manba Finance Promoters Declare Zero Encumbrance on 74.98% Stake for FY26
Manish Shah, on behalf of the promoter group of Manba Finance Limited, has declared that no shares were encumbered or pledged during the financial year ending March 31, 2026. The total promoter and promoter group holding stands at 37,669,410 shares, representing a significant 74.98% of the company's total equity. Major holdings include Manba Investments and Securities Private Limited at 27.68% and Manish Kiritkumar Shah at 13.06%. This annual disclosure under SEBI Takeover Regulations confirms that the promoters' stake remains free of any direct or indirect liens.
Key Highlights
Promoters and Promoter Group hold a total of 37,669,410 shares, equivalent to 74.98% of the company.
Declaration confirmed zero encumbrance or pledging of shares for the financial year ended March 31, 2026.
Manba Investments and Securities Private Limited is the largest promoter entity with a 27.68% stake.
Individual promoter Manish Kiritkumar Shah holds 6,559,848 shares representing 13.06% of the company.
👀 What to Watch
Investors should view this as a positive sign of promoter stability and financial health, as a high promoter holding with zero pledging reduces risk. No immediate action is required other than monitoring the company's upcoming annual financial performance.
