Finance
IBL Finance IPO: Check GMP, subscription status on day 1, other key details
During the fiscal year that ended on March 31, 2019, IBL Finance started lending money to self-employed professional and small business owners. The business subsequently switched to a fintech-based financial services platform starting in Fiscal 2020.
Lending is made quick and simple by this fintech company, which is driven by technology and data science. Immediate personal loans are offered by the company via a mobile app that is nearly entirely digital.
Also Read: IBL Finance IPO sets price band at ₹51 apiece: check GMP, key dates, issue details, more
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Tentatively, IBL Finance IPO basis of allotment of shares will be finalised on Friday, January 12 and the company will initiate refunds on Monday, January 15, while the shares will be credited to the demat account of allottees on the same day. IBL Finance shares are likely to be listed on NSE SME on Tuesday, January 16.
The company’s listed peers as per the RHP are MAS Financial Services Ltd (with a P/E of 23.43), Arman Financial Service Ltd (with a P/E of 23.64), Apollo Finvest (India) Ltd (with a P/E of 29.58), CSL Finance Ltd (with a P/E of 21.12), and Ugro Capital Ltd (with a P/E of 48.16).
Between the fiscal year ending on March 31, 2023, and March 31, 2022, IBL Finance Limited’s revenue increased by 307.59% and its profit after tax (PAT) increased by 351.28%.
Also Read: Jyoti CNC Automation’s ₹1,000-crore IPO opens today: 12 important things from RHP about the issue
IBL Finance IPO details
IBL Finance IPO, which is worth ₹33.41 crore, is completely a fresh issue of 6,550,000 equity share; there is no offer for sale (OFS) component, according to RHP.
The company intends to use the net proceeds of the offering to the following goals: general corporate purposes; expanding the Tier-I capital base to cover the company’s anticipated future capital needs resulting from asset and business growth.
The registrar of the IBL Finance IPO is Link Intime India Private Ltd, and the book running lead manager is Fedex Securities Pvt Ltd.
Manish Patel, Piyush Patel, and Mansukhbhai Patel are the company’s promoters.
Also Read: Shree Marutinandan Tubes IPO announces price band at ₹143 apiece: check issue details, key dates, more
IBL Finance IPO subscription status
IBL Finance IPO subscription status is 3.60 times on day 1, so far. The issue received positive response from retail investors who’s portion set was subscribed 5.82 times, and non-institutional buyers who’s portion was subscribed 1.11 times, as per data available on chittorgarh.com.
The company has received bids for 2,12,04,000 shares against 58,90,000 shares on offer, at 15:39 IST, according to data on chittorgarh.com.
IBL Finance IPO GMP today
IBL Finance IPO grey market premium was ₹0, which meant shares were trading at their issue price of ₹51 with no premium or discount in the grey market according to investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: MobiKwik IPO: Check out 4 key metrics and comparisons with peers
IBL Finance IPO review
“The company is operating in a highly competitive and fragmented segment of financing self-employed under served masses with its fintech based app. Based on FY24 annualised super earnings, the issue appears aggressively priced. The sustainability of margins remains major concern going forward. There is no harm in skipping this pricey issue,” said Dilip Davda, the contributing editor at Chittorgarh.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 09 Jan 2024, 03:50 PM IST
Regions Financial Corp. has expanded its municipal finance and investment banking business with the acquisition of Montgomery-based The Frazer Lanier Company, a firm that has advised Alabama governments, schools and universities on financing for nearly 50 years.
The Birmingham-based bank announced Thursday that it has closed on the acquisition of Frazer Lanier, a full-service investment banking firm specializing in municipal and corporate securities. Financial terms of the transaction were not disclosed.
Founded in 1976, Frazer Lanier has built its business by advising corporations, cities, counties and other public entities on financing projects while serving as an underwriter or placement agent for tax-exempt and taxable bond offerings. Ultimately, the firm helps governments, school systems, universities and other organizations raise money for public projects through bond offerings and other financing strategies.
The Montgomery firm also maintains offices in Birmingham and Florence and says it has served thousands of public and private clients throughout the country.
Along with serving municipalities, Frazer Lanier’s published client list includes the Alabama State Board of Education, the University of Alabama, the University of Alabama at Birmingham, the University of Alabama in Huntsville, Auburn University, the University of South Alabama and Alabama State University, along with numerous city and county school systems across Alabama.
Regions said the acquisition supports its strategy of expanding investment banking capabilities and strengthening services for public-sector, corporate and institutional clients. The company said combining Frazer Lanier’s experience with its Corporate Banking and Capital Markets divisions will expand its municipal finance capabilities and provide clients with broader access to capital markets solutions.
“Two of our top priorities at Regions Bank are strategically expanding our services and investing in top-tier banking talent,” said John Turner, chairman, president and CEO of Regions Financial Corp. “By welcoming experienced bankers from Frazer Lanier to the Regions family, we are connecting Regions’ clients with even greater capabilities while advancing our long-term strategy for growth.”
Frazer Lanier will become part of Regions Bank’s Capital Markets division within the company’s Corporate Banking group.
“There’s a natural fit here,” said Brian Willman, head of Corporate Banking for Regions. “Frazer Lanier has built trust by staying close to clients and helping them navigate important decisions. That’s exactly how we approach relationships at Regions. Together, we can expand that model by bringing more ideas, more capabilities and more connectivity to clients across our markets.”
Regions, which has approximately $161 billion in assets, said the acquisition will strengthen its ability to serve municipalities, corporations and institutional clients across its multi-state footprint while expanding its municipal finance and investment banking services.
Sherri Blevins is a staff writer for Yellowhammer News. You may contact her at [email protected].
Retirement is often associated with greater freedom and the opportunity to enjoy the rewards of decades of work. But for many people, the transition from earning a regular pay cheque to relying on pensions and savings can feel less like a gentle glide and more like standing at the edge of a financial cliff-edge.
A YouGov survey of 6,224 UK adults found that 55% reported that they were concerned about running out of money in retirement and, among these worried respondents, 63% were under 50 years old.
However, the good news is that avoiding a financial retirement cliff-edge isn’t about having extraordinary wealth – it’s about making informed decisions before and throughout retirement.
We spoke to Susan Hope, retirement expert and business development director at Scottish Widows, who shared the following nine practical steps to help you build a retirement plan that can weather life’s uncertainties and give you greater confidence that your retirement years will be defined by peace of mind rather than financial stress.
1. Understand what state pension and credits you are entitled to
“Make sure the cornerstone of your financial retirement income is covered by the state and you’ve got everything you’re entitled to,” advises Hope. “If you go onto the HMRC app you can find out really quickly when your state pension age is and what you are due to get.
“Another important thing to look at on the app is a year-by-year breakdown of your national insurance contributions.”
Hope recommends going back through your working years to make sure that you’ve got credits for every period because if you weren’t working due to unemployment, illness, or were caring for someone, you may be entitled to national insurance credits.
They help ensure you qualify for certain benefits, most notably the state pension, during periods when you weren’t working, were earning too little to pay National Insurance, or were claiming specific benefits.
2. Locate any lost or missing pension pots
“I have a huge bee in my bonnet about the £31 billion of untraced pensions that we have in the UK,” says Hope. “Go back through your LinkedIn or your CV and make sure that none of that £31 billion is languishing somewhere, because that is your money to have.”
Once you know the name of your previous employer or your old pension provider, you can use the government’s free Pension Tracing Service to help find lost pension pots.
3. Look at the UK’s different retirement living standards
“I think it’s really useful to look at the UK’s retirement living standards, because that will give you an idea of how much you’re going to need in retirement, depending on what type of retirement you want to live,” recommends Hope.
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