Manba Finance IPO vs Western Carriers (India) IPO

Comparision between Manba Finance IPO and Western Carriers (India) IPO.

IPO Details

Manba Finance IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Western Carriers (India) IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Manba Finance IPO	Western Carriers (India) 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	Jm Financial Limited Kotak Mahindra Capital Company Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
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 Western Carriers (India) IPO is up to ₹492.88 Cr. The final issue price of Manba Finance IPO is ₹120.00 per share and of Western Carriers (India) IPO is ₹172.00 per share.

	Manba Finance IPO	Western Carriers (India) IPO
Face Value	₹10 per share	₹5 per share
Issue Price (Lower)	₹114.00 per share	₹163.00 per share
Issue Price (Upper)	₹120.00 per share	₹172.00 per share
Issue Price (Final)	₹120.00 per share	₹172.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	125 shares	87 shares
Fresh Issue Size	1,25,70,000 shares	2,32,55,813 shares
Fresh Issue Size (Amount)	up to ₹150.84 Cr	up to ₹400.00 Cr
OFS Issue Size		54,00,000 shares
OFS Issue Size (Amount)		up to ₹92.88 Cr
Issue Size Total	1,25,70,000 shares	2,86,55,813 shares
Issue Size Total (Amount)	up to ₹150.84 Cr	up to ₹492.88 Cr

IPO Timetable

Manba Finance IPO opens on Sep 23, 2024, while Western Carriers (India) IPO opens on Sep 13, 2024. The closing date of Manba Finance IPO and Western Carriers (India) IPO is Sep 25, 2024, and Sep 19, 2024, respectively.

	Manba Finance IPO	Western Carriers (India) IPO
Anchor Bid Date	Sep 20, 2024	Sep 12, 2024
Issue Open	Sep 23, 2024	Sep 13, 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 Western Carriers (India) IPO P/E ratio of 16.85.

Manba Finance IPO

Western Carriers (India) 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

Western Carriers (India) Limited Financial Information (Restated Consolidated)

Western Carriers (India) Limited's revenue increased by 3% and profit after tax (PAT) rose by 12% 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	754.01	604.14	490.33
Revenue	1,691.41	1,637.84	1,475.79
Profit After Tax	80.35	71.57	61.13
Net Worth	398.36	318.61	257.58
Reserves and Surplus	359.01	279.08	157.12
Total Borrowing	266	210.47	150.4
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

100%

99.99%

Promoter Shareholding (Post-Issue)

74.98%

71.89%

P/E Ratio

14.39

16.85

Market Cap

₹602.87 Cr.

₹1753.63 Cr.

ROE

21.36%%

22.41%%

ROCE

19.39%%

29.23%%

Debt/Equity

3.75

0.67

EPS

₹8.34

₹10.21

RoNW

15.66%%

20.17%%

Shares Offered

In the Manba Finance IPO retail investors (RII) are offered 43,99,500 shares while in Western Carriers (India) IPO retail investors are offered 43,99,500 shares. Qualified institutional buyers (QIB) are offered 25,14,000 shares in Manba Finance IPO and 57,31,163 shares in Western Carriers (India) IPO.

	Manba Finance IPO	Western Carriers (India) IPO
Anchor Investor Reserveration	37,71,000 shares	85,96,743 shares
Market Maker Reserveration
QIB	25,14,000 shares	57,31,163 shares
NII	18,85,500 shares	42,98,372 shares
RII	43,99,500 shares	1,00,29,535 shares
Employee	0 shares	0 shares
Others
Total	87,99,000 shares	2,00,59,070 shares

Bids Received (Subscription)

Manba Finance IPO subscribed 224.05x in total, whereas Western Carriers (India) IPO subscribed 31.69x.

	Manba Finance IPO	Western Carriers (India) IPO
QIB (times)	148.55x	28.81x
NII (times)	511.62x	46.68x
Big NII (times)	546.56x	41.65x
Small NII (times)	441.73x	56.73x
RII (times)	143.95x	26.92x
Employee (times)
Other (times)
Total (times)	224.05x	31.69x

Compare with others

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

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