On November 29, 2024, Manba Finance shares saw a notable increase, rising by up to 2%. At 10:25 AM, the stock reached its day-high of ₹157.70, up from the opening price of ₹150.65. This surge followed the company’s latest business update.
Manba Finance announced it had achieved its highest-ever Assets Under Management (AUM) of ₹1,200 Crores, with growth continuing. This milestone marks a significant achievement for the company.
The company also highlighted its successful IPO in September 2024, raising ₹150 Crores. Following this, Manba Finance is now listed on both major stock exchanges, further strengthening its market presence.
With over 15 years of experience in the auto finance sector, specifically two-wheeler loans, Manba Finance continues to maintain its position as a market leader. Currently, 97% of the company’s portfolio consists of secured assets, reinforcing its financial stability.
During the ongoing festive season, Manba Finance reported disbursing ₹250 Crores in auto loans, setting a new record for the company. This achievement highlights the company’s growing business and its strong performance in the sector.
Manba Finance’s credit loss rate consistently remains below 1%, one of the lowest in the industry. This is attributed to the company’s robust collection infrastructure, which helps maintain high asset quality.
Looking ahead, the company plans to expand its product offerings by leveraging its existing branch and location setup. This strategy aims to diversify its services and further solidify its market position.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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