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Usha Financial Services IPO
Price Band
₹160.0–168.0
Issue Size
₹98.45 Cr
Lot Size
800 shares
Min Investment
₹134,400
GMP
+₹9.0 (5.36%)
Issue Price
₹168.0
Subject to Sauda
₹5500
Paid only if allotted
Usha Financial Services IPO AI Summary
- Usha Financial Services IPO is listed on NSE SME in the Non Banking Financial Company (NBFC) sector.
- Price band: ₹160.0–₹168.0 per share, lot size 800 shares (min. investment ₹134,400).
- Subscription window: 24 Oct–28 Oct 2024, listing on 31 Oct 2024.
- Current GMP is +₹9.0 (5.36%), an estimated listing price of ₹177 — unofficial and can change daily.
Usha Financial Services Limited is an NBFC focused on providing diverse lending solutions, particularly to women entrepreneurs. The company is looking to raise capital through its IPO, which opens on 24 October 2024. Investors should consider the company's financial metrics and market conditions before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Usha Financial Services IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 28 Oct 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Usha Financial Services IPO Grey Market Premium (GMP) Today
GMP
+₹9.0
GMP %
+5.36%
Est. Listing
₹177.0
Updated: 25 Jul 2026 14:03
About the Company
Incorporated in May 1995, Usha Financial Services Limited is a non-banking finance company providing lending solutions to other NBFCs, corporates, MSMEs, and individuals, particularly women entrepreneurs. The company also provides Electric Vehicle (EV) financing services. It offers a diversified range of financial products to individuals, body corporates, NBFCs, and MSMEs. The company has an AUM of Rs. 30,695.76 Lakhs and a Net worth of Rs. 10,602.63 Lakhs. It maintains a CRAR of 33.03% and a D/E Ratio of 1.71. The company has maintained long-term relationships with its lenders. As of September 30, 2024, the company's lenders included four banks and 15 NBFCs. The company utilizes two distinct business models to generate revenue: (A) Retail Lending and (B) Wholesale Lending. The product portfolio of the company consists of the following Loans to Other NBFCs and Corporates Green financing/ electric vehicle financing MSMEs, focusing on small entrepreneurs Competitive Strength Experienced management team The company has strategic agreements with NBFCs and other entities, its business partners/correspondents, which are crucial for its retail lending business, providing access to extensive borrower networks. The extensive customer due diligence procedures include multiple levels of checks and controls. As of October 2024, the company had 43 employees.
Company Financials (₹ Cr)
As of 2024-06-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 351.34 | 335.86 | 372.23 | 164.28 |
| Total Income | 26.81 | 63.96 | 46.19 | 25.31 |
| Profit After Tax | 5.04 | 13.45 | 10.17 | 4.14 |
| NET Worth | 111.07 | 106.03 | 82.07 | 47.68 |
| Reserves and Surplus | 95.19 | 90.15 | 72.66 | 41.09 |
| Total Borrowing | 188.62 | 181.28 | 247.51 | 97.23 |
Key Ratios
EPS
₹8.47
NAV
₹69.95
ROE
9.29%
ROCE
12.02%
RoNW
9.29%
P/B Value
24.00
P/E Ratio
19.83
Market Cap
₹365.19 Cr
PAT Margin
19.02%
Debt/Equity
1.70
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted | NAV |
|---|---|---|---|---|---|
| Ibl Finance Limited | 8.47% | 65 | 1.17 | 1.17 | — |
| Usha Financial Services Limited This IPO | 14.3% | — | 8.64 | 8.64 | 66.78 |
Promoters
Rajesh Gupta, Anoop Garg, Geeta Goswami, Nupur Gupta and BR Hands Investments Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To Augment the capital base of the Company 70.00 2 To meet out the General Corporate Purposes; 20.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹25.31 Cr in the year ending 31 Mar 2022, rising to ₹46.19 Cr by 31 Mar 2023, and further increasing to ₹63.96 Cr by 31 Mar 2024. However, in the latest period ending 30 Sep 2024, total income decreased to ₹26.81 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹4.14 Cr in the year ending 31 Mar 2022, increasing to ₹10.17 Cr by 31 Mar 2023, and further rising to ₹13.45 Cr by 31 Mar 2024. The latest figure for profit after tax is ₹5.04 Cr for the period ending 30 Sep 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
At the issue price of ₹168.0, Usha Financial Services has an implied P/E ratio of approximately 19.83, compared to peers like Ibl Finance Limited, which has a P/E of 65.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the price at which the shares of an IPO are expected to trade in the unofficial market before listing. A positive GMP suggests that the market anticipates a higher listing price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their financial goals and risk tolerance. It's important to consider market conditions and the company's business model.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings might consider avoiding this IPO, as it operates in a sector that can be subject to market fluctuations and regulatory changes.
IPO Timeline, Explained
The IPO opens for subscription on 24 October 2024 and closes on 28 October 2024. Allotment of shares will be done on 29 October 2024, with the listing date set for 31 October 2024.
Listing Gains — The Risk
Listing-day gains can be unpredictable and are influenced by market sentiment, demand for the stock, and overall market conditions. Investors should be aware that while some IPOs may see immediate gains, others may not perform as expected.
This evaluation is generated from Usha Financial Services's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Usha Financial Services IPO GMP today?
Usha Financial Services IPO GMP today is +₹9.0 (5.36%), indicating an estimated listing price of ₹177. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Usha Financial Services IPO?
The price band of Usha Financial Services IPO is ₹160.0–₹168.0 per share.
When does Usha Financial Services IPO open and close?
Usha Financial Services IPO opens on 24 October 2024 and closes on 28 October 2024.
When does Usha Financial Services IPO list on the stock exchange?
Usha Financial Services IPO listed on 31 October 2024 at ₹177.0.
What is the lot size for Usha Financial Services IPO?
The lot size for Usha Financial Services IPO is 800 shares, requiring a minimum investment of ₹134,400.
What is the price band for the IPO?
The price band for the IPO is ₹160.0 to ₹168.0.
What is the minimum investment required?
The minimum investment required is ₹134,400, which corresponds to a lot size of 800 shares.
When does the IPO open and close?
The IPO opens on 24 October 2024 and closes on 28 October 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected price at which the shares will trade in the grey market before listing.
When will the shares be allotted?
The shares will be allotted on 29 October 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
24 Oct 2024
Close
28 Oct 2024
Allotment
29 Oct 2024
Listing
31 Oct 2024
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