Manba Finance IPO vs Northern Arc Capital IPO

Comparision between Manba Finance IPO and Northern Arc Capital IPO.

IPO Details

Manba Finance IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Northern Arc Capital IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Manba Finance IPO	Northern Arc Capital IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Hem Securities Limited	ICICI Securities Limited Axis Bank Limited Citigroup Global Markets India Private Limited
Registrar	Link Intime India Private Ltd	Kfin Technologies Limited
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Manba Finance IPO is up to ₹150.84 Cr whereas the issue size of the Northern Arc Capital IPO is up to ₹777.00 Cr. The final issue price of Manba Finance IPO is ₹120.00 per share and of Northern Arc Capital IPO is ₹263.00 per share.

	Manba Finance IPO	Northern Arc Capital IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹114.00 per share	₹249.00 per share
Issue Price (Upper)	₹120.00 per share	₹263.00 per share
Issue Price (Final)	₹120.00 per share	₹263.00 per share
Discount (Retail)
Discount (Employee)		₹24.00 per share
Market Lot Size	125 shares	57 shares
Fresh Issue Size	1,25,70,000 shares	1,90,11,407 shares
Fresh Issue Size (Amount)	up to ₹150.84 Cr	up to ₹500.00 Cr
OFS Issue Size		1,05,32,320 shares
OFS Issue Size (Amount)		up to ₹277.00 Cr
Issue Size Total	1,25,70,000 shares	2,95,43,727 shares
Issue Size Total (Amount)	up to ₹150.84 Cr	up to ₹777.00 Cr

IPO Timetable

Manba Finance IPO opens on Sep 23, 2024, while Northern Arc Capital IPO opens on Sep 16, 2024. The closing date of Manba Finance IPO and Northern Arc Capital IPO is Sep 25, 2024, and Sep 19, 2024, respectively.

	Manba Finance IPO	Northern Arc Capital IPO
Anchor Bid Date	Sep 20, 2024	Sep 13, 2024
Issue Open	Sep 23, 2024	Sep 16, 2024
Issue Close	Sep 25, 2024	Sep 19, 2024
Basis Of Allotment (Tentative)	Sep 26, 2024	Sep 20, 2024
Initiation of Refunds (Tentative)	Sep 26, 2024	Sep 23, 2024
Credit of Share (Tentative)	Sep 27, 2024	Sep 23, 2024
Listing date (Tentative)	Sep 30, 2024	Sep 24, 2024
Anchor Lockin End date 1	Oct 26, 2024	Oct 19, 2024
Anchor Lockin End date 2	Dec 25, 2024	Dec 18, 2024

Financials

Manba Finance IPO P/E ratio is 14.39, as compared to Northern Arc Capital IPO P/E ratio of 11.78.

Manba Finance IPO

Northern Arc Capital IPO

Financial

Manba Finance Limited Financial Information (Restated)

Manba Finance Limited's revenue increased by 44% and profit after tax (PAT) rose by 90% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	973.75	787.25	561.46
Revenue	191.63	133.32	106.62
Profit After Tax	31.42	16.58	9.74
Net Worth	200.61	168.43	151.74
Reserves and Surplus	162.46	155.54	138.96
Total Borrowing	752.27	595.93	394.4
Amount in ₹ Crore

Northern Arc Capital Limited Financial Information (Restated Consolidated)

Northern Arc Capital Limited's revenue increased by 45% and profit after tax (PAT) rose by 31% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	11,707.66	9,371.57	7,974.12
Revenue	1,906.03	1,311.2	916.55
Profit After Tax	317.69	242.21	181.94
Net Worth	2,314.35	1,955.39	1,739.04
Reserves and Surplus	2,123.37	1,784.22	1,555.3
Total Borrowing	9,047.76	7,034.57	5,982.96
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

100%

Promoter Shareholding (Post-Issue)

74.98%

P/E Ratio

14.39

11.78

Market Cap

₹602.87 Cr.

₹4242.86 Cr.

ROE

21.36%%

ROCE

19.39%%

Debt/Equity

3.75

3.9

EPS

₹8.34

₹22.32

RoNW

15.66%%

13.32%%

Shares Offered

In the Manba Finance IPO retail investors (RII) are offered 43,99,500 shares while in Northern Arc Capital IPO retail investors are offered 43,99,500 shares. Qualified institutional buyers (QIB) are offered 25,14,000 shares in Manba Finance IPO and 58,01,354 shares in Northern Arc Capital IPO.

	Manba Finance IPO	Northern Arc Capital IPO
Anchor Investor Reserveration	37,71,000 shares	87,02,031 shares
Market Maker Reserveration
QIB	25,14,000 shares	58,01,354 shares
NII	18,85,500 shares	43,51,016 shares
RII	43,99,500 shares	1,01,52,384 shares
Employee	0 shares	0 shares
Others
Total	87,99,000 shares	2,03,04,754 shares

Bids Received (Subscription)

Manba Finance IPO subscribed 224.05x in total, whereas Northern Arc Capital IPO subscribed 117.19x.

	Manba Finance IPO	Northern Arc Capital IPO
QIB (times)	148.55x	242.73x
NII (times)	511.62x	147.58x
Big NII (times)	546.56x	160.48x
Small NII (times)	441.73x	121.79x
RII (times)	143.95x	32.01x
Employee (times)
Other (times)
Total (times)	224.05x	117.19x

Compare with others

Manba Finance IPO	Northern Arc Capital IPO
Waaree Energies IPO	Afcons Infrastructure IPO
Garuda Construction and Engineering IPO	Hyundai Motor IPO
Afcons Infrastructure IPO	Diffusion Engineers IPO
Hyundai Motor IPO	Manba Finance IPO
Diffusion Engineers IPO	KRN Heat Exchanger IPO
KRN Heat Exchanger IPO	Arkade Developers IPO
Northern Arc Capital IPO	Western Carriers (India) IPO
Arkade Developers IPO	P N Gadgil Jewellers IPO
Western Carriers (India) IPO	Kross IPO
P N Gadgil Jewellers IPO	Tolins Tyres IPO

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