Manba Finance Limited was originally incorporated as ‘Manba Finance Private Limited’, a private limited company under the Companies Act, 1956 at Mumbai, Maharashtra, pursuant to a certificate of incorporation dated May 31, 1996, issued by the Registrar of Companies, Maharashtra at Mumbai (RoC).Thereafter, the company was converted into a public limited company pursuant to a special resolution passed by its Shareholders as on January 31, 2005 and consequently, the name of the company was changed to ‘Manba Finance Limited’. A fresh certificate of change of name, consequent upon conversion to a public limited company was issued by RoC on April 11, 2005. The RBI granted a certificate of registration dated April 7, 1998 to the company for registration as a NBFC under Section 45-IA of the Reserve Bank of India Act, 1934 (RBI Act). Subsequently, the RBI granted a revised certificate of registration dated January 27, 2022, to carry on business of non-banking financial institutions without accepting public deposits.

Manba Finance is a Non-Banking Financial Company-Base Layer (NBFC-BL) providing financial solutions for New two wheelers (2Ws,) three wheelers (3Ws), electric two wheelers (EV2Ws), electric three wheelers (EV3Ws), Used Cars, Small Business Loans and Personal Loans. It provides financial solutions to its target customers who are looking for a quick turnaround time (TAT) for loan sanction and disbursement. The company has a centralised credit team which remotely reviews loan applications and undertakes credit decisions primarily based on the credit data of the customer. It has implemented a comprehensive and robust credit assessment, risk management and collections framework to identify, monitor and manage risks inherent in its line of business. It bases its credit decisions on certain key factors like its internal credit policies, LTV and the customer’s existing cash-flows, CIBIL score and the collateral, which in case of vehicle finance is the vehicle itself, to assess the ability and capability of the customer to repay the loan to be disbursed by the company. It also has an in-house collection team which focuses on recovery of the monthly instalments from its customers. Its collection management process ensures account-level tracking of payments, resolution of queries, and initiation of legal actions, where required.

Business area of the company

The company is a registered as a non-banking finance company engaged in the business of providing finance. The company primarily deals in the financing of new 2Ws, 3Ws, EV2Ws, EV3Ws and personal loans.

History and milestones 

• 1998: Received certificate  of  registration  from  RBI for  registration  of  the  company  as  a NBFC. 
• 2009: Scaled up its operations in vehicle financing.
• 2013: AUM of the company crossed Rs 5,000 lakh. 
• 2014: AUM of the Company crossed Rs 10,000 lakh. 
• 2018: Expansion of its operations to Pune.
• 2018: AUM of the company crossed Rs 25,000 lakh. 
• 2018: Expansion of its operations to Nashik and Satara in the state of Maharashtra and to Ahmedabad in the state of Gujarat.
• 2020: AUM of the company crossed Rs 50,000 lakh. 
• 2021: Listing of first tranche of non-convertible debentures on the BSE.
• 2021: Opened branch in Jaipur in the state of Rajasthan. 
• 2022: Expansion of its operations to Nagpur, Vidarbha region in the state of Maharashtra and to Raipur in the state of Chhattisgarh. 
• 2023: Employee strength of the company crossed 1,000 employees.
• 2023: Entered into a co-lending arrangement with Muthoot Capital Services Limited.
• 2023: AUM of the Company crossed Rs 80,000 lakh as on December 31, 2023.
• 2023: Expanded the network to more than 850 dealers, including more than 60 EV dealers.
• 2023: 30,000 customers on boarded during the months of September, October and November with Rs 25,000 lakh disbursement amount.
• 2023: Expanded operations to the state of Madhya Pradesh by opening a branch in Indore.
• 2023: Launched new products such as Small Business Loans, Used Car Loans and Personal Loans.
• 2024: AUM of the Company crosses Rs 90,000 lakh.
• 2024: Expanded operations to the state of Uttar Pradesh by opening a branch in Lucknow.