09 Jan 24
11 Jan 24
12 Jan 24
16 Jan 24
IBL Finance Limited, a fintech-based financial services platform that was founded in August 2017, leverages data science and technology to expedite and simplify financing. With a fully digital approach, IBL Finance, a smartphone app, provides quick personal loans up to ₹50,000. Approval times for loans can be as short as three minutes. The company has disbursed 1,63,282 personal loans totaling ₹ 7,105.44 lakhs as of March 31, 2023. 381,156 logins were made to the IBL Instant Personal Loan app in 2023. Every month, 27,969 people were active on the app on average. The company's sophisticated underwriting algorithms create credit reports with over 500 data points using information from several sources. Using clear, succinct language will guarantee that clients can grasp the information the business offers.
The Net Proceeds are proposed to be used as under: ● Augmenting the company's Tier-I capital base to meet the company's future capital requirements, arising out of the growth of the business and asset; and ● General corporate purposes.
The book-running lead managers to the offer are: Fedex Securities Pvt Ltd
Disclaimer Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.