Manba Finance Limited

1. Established relationships with more than 1100 Dealers.

2. Ability to expand to new underpenetrated geographies (currently present in 66 locations spread across six states in western, central and north India).

3. Access to diversified and cost-effective long-term borrowing.

4. Technology drive and scalable operating model with quick Turn Around Time (TAT) for loan processing (5.30 days as of March 31, 2024).

5. Wide collections infrastructure and processes leading to maintenance of our Company's asset quality.

6. Experienced Promoters and professional management team.

1. Its business and future prospects could get adversely affected if the company is not able to maintain relationships with its Dealers from whom the company derive significant portion of its New Vehicle Loans business.

2. New Vehicle Loans constitute 97.90% of its AUM. Lack of diversity in its loan products may affect the company's growth, prospects and financial condition.

3. Any downgrade in its credit ratings could increase the company borrowing costs, affect its ability to obtain financing, and adversely affect the company's business, results of operations and financial condition.

4. Its may faces asset-liability mismatches, which could affect the company liquidity and consequently may adversely affect its operations and profitability.

5. Its operations could be adversely affected by strikes or increased remuneration demands by its employees or any other kind of disputes with the company's employees.

6. The company has experienced negative cash flows from operating activities in Fiscals 2024 and 2023 and may continue to do so in the future and the same may adversely affect its cash flow requirements, which in turn may adversely affect its ability to operate the company's business and implement its growth plans, thereby affecting its financial condition.

7. Its business and operations are dependent on the company's ability to timely access cost effective sources of funding. Any disruption in its sources of funding could have an adverse effect on the company's business, results of operations and financial condition.

8. Its operations are concentrated in six states in western, central and north India and any adverse developments in these regions could have an adverse effect on its business and results of operations.

9. Its Promoters have subscribed to, and purchased, Equity Shares, at a price which could be below the Issue Price. The average cost of acquisition of Equity Shares by its Promoters could also be lower than the Issue Price.

10. The company participate in markets that are competitive with continuously evolving customer needs, and if the company does not compete effectively with established companies and new market entrants, its business, results of operations, cash flows and financial condition could be adversely affected.