#### **Overview** Manba Finance Limited (MFL), established in **1996** by first-generation entrepreneur Mr. Manish Shah, is a fast-growing, technology-driven Non-Banking Financial Company (NBFC) headquartered in **Mumbai, Maharashtra**. Licensed by the Reserve Bank of India (RBI) as an **NBFC - Base Layer (NBFC-BL)**, the company has evolved from its early days as a Direct Selling Agent (DSA) in two-wheeler financing into a trusted financial services provider focused on **emerging and underserved consumer segments**. In **September 2025**, Manba Finance successfully completed its **Initial Public Offering (IPO)** and is now listed on both the **National Stock Exchange (NSE)** and **Bombay Stock Exchange (BSE)**, marking a significant milestone in its journey toward institutional credibility and scalable growth. --- #### **Core Business & Product Offerings** Manba Finance specializes in **secured, customer-first lending** with a diversified portfolio tailored to meet the needs of individuals and micro-entrepreneurs across India. Key products include: - **Two-Wheeler Financing**: Loans for both **new and used** petrol and **electric two-wheelers (EV2W)**, with ticket sizes up to ₹82,000 and tenures from 6 to 36 months. The company emphasizes rapid disbursal and targets first-time buyers. - **Three-Wheeler Financing**: Customized loans for **new and electric three-wheelers (EV3W)** ranging from ₹1.5 lakh to ₹3 lakh with tenures up to 48 months, supporting self-employed individuals and small businesses in urban and rural markets. - **Used Car Loans**: Affordable financing options from ₹2 lakh to ₹6 lakh with repayment tenures up to 48 months, aimed at enabling access to pre-owned four-wheelers. - **Small Business Loans (Vyapaar Loans)**: Unsecured business loans ranging from ₹75,000 to ₹10 lakh (tenures up to 60 months) for MSMEs in retail, manufacturing, and services, featuring flexible repayment and digital onboarding. - **Personal & Top-Up Loans**: Personal loans and **top-up loans of up to ₹2 lakh** for existing customers to address emergency financial needs like medical expenses or education, processed quickly using pre-existing customer data. - **EV-Focused Growth**: The company is actively expanding its financing for **electric mobility**, aligning with national sustainability goals and rising consumer demand driven by high fuel costs and government incentives. --- #### **Customer Reach & Market Presence** As of **November 2025**, Manba Finance has achieved several key operational milestones: - **Over 1 million customers served**, reflecting strong brand trust and deep market penetration built over 29 years. - Operates across **7 Indian states** — **Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, and Bihar (recent addition)** — with a physical presence in **103+ locations**. - Serves customers through a robust **dealer network of over 1,393 partners**, including more than 180 dedicated to **electric vehicle (EV) financing**. - Employs over **1,726 people**, with more than **700 sales professionals** and over **400 staff in collections**, contributing to industry-leading asset quality and recovery efficiency. --- #### **Technology & Digital Transformation** Manba Finance’s **technology-led operating model** is a key differentiator, enabling **speed, transparency, and scalability**: - **Fastest Turnaround Time (TAT)** in the industry: - **>60% of loans approved within 1 minute** - **92% sanctioned within 1 day** - Disbursement typically completed within **3 days** - **Digital Infrastructure**: - End-to-end **in-house digital platform** for loan lifecycle management (originations, disbursements, collections, accounting) - Integration with **Razorpay** and virtual banking partners for seamless payments - **Cloud-based CRM (Salesforce)**, **Power BI** for analytics, and **TU CIBIL** for real-time credit assessment - **Paperless onboarding** using **Digilocker-based KYC** and mobile-enabled representatives - **Customer Engagement Innovations**: - **WhatsApp-based communication** for real-time updates - **Salesforce Marketing Cloud** for personalized campaigns - **Web-based app for Business Correspondents (BCs)** to expand outreach - **Automated Systems**: Straight-through processing, maker-checker collections model, and AI-led customer engagement for faster decisions and improved access for first-time borrowers. --- #### **Growth Strategy & Expansion** Manba Finance is executing a multi-pronged growth strategy focused on **geographic expansion, digital innovation, and leadership in sustainable mobility**: - **Geographic Expansion**: - Aggressively expanding in **Madhya Pradesh, Uttar Pradesh, and Rajasthan**, with recent forays into **Chhattisgarh and Bihar**. - Added over **18 new locations** in MP and UP in late 2025 alone. - Targeting **underserved semi-urban and rural markets** with growing demand for consumer finance. - **Alliances & Partnerships**: - Strategic partnerships with OEMs, including **Piaggio Vehicles**, to offer co-branded, customized financing for three-wheelers (low down payments, competitive rates, digital onboarding). - Collaborations with **BGauss Auto** and **Ins-Lab Pvt Ltd** to expand EV financing, especially in **South India (Karnataka)**. - BC partnerships with **ProsParity, Fin Coopers Capital, BT Finance, EV Finserv**, etc., to enhance credit flow, risk analytics, and e-mobility financing. - **Electric Mobility Push**: - Identified **EV2W and EV3W financing** as a core growth pillar. - Offers **fast approvals, minimal documentation, and day-one income generation support**, particularly for gig workers and small transporters. - **Funding & Capital Strength**: - Maintains a **diversified funding model** through **public and private banks, NBFCs, NCDs, PTCs, and Term Loans**. - **Co-lending arrangement with Muthoot Capital Services Ltd. (80:20 fund share)** to improve capital efficiency. - Raised funds at competitive rates; **capital adequacy ratio of 31%** as of early 2025, supporting strong AUM growth. --- #### **Financial Performance** - **Asset Under Management (AUM)**: Grew from ₹13,314 million (June 2025) to **₹15,008 million** in November 2025 — representing **13.3% growth in six months**, and a **47.88% YoY increase in FY24**. - **Asset Quality**: Industry-leading credit performance with: - **Over 97% of loans secured** - **One of the lowest NPAs in the NBFC sector** - **>80% collections via internal team**, contributing to high **Net Promoter Scores (NPS)** - **Credit Rating**: Upgraded outlook to **BBB+ (Positive)** by CARE Ratings, reflecting strong governance, market position, and funding access. --- #### **Brand & Market Positioning** Manba Finance is establishing itself as a **preferred financier at the dealer level** by offering: - **Customized financing schemes, incentives, trade advances, and marketing support** - Organized **dealer events and referral programs** - **Cinema advertising in 40+ theatres in Mumbai**, targeted campaigns, and professional-focused loan plans It holds a **12–14% dealer market share** in mature markets and aims to grow it to **14–18%**, while targeting **10%+ in new locations** before further expansion.