Key Announcement

Manba Finance Limited announces launch of Battery Replacement Financing product - dedicated loan offering to finance new lithium-ion batteries for electric three-wheelers (e-rickshaws and e-carts).

Product Details

  • Purpose-built financing for replacement lithium-ion batteries with charger kits for electric three-wheelers
  • Small-ticket, short-tenure loans designed around earning cycle of e-3W owner-operators
  • Batteries sourced only from empaneled, quality-certified OEMs with warranty and service-network support
  • Technology-led process with digital onboarding, e-mandate based repayments and IoT-enabled batteries
  • Phased rollout beginning with existing electric three-wheeler customer base, followed by wider market rollout

Management Commentary

Mr. Manish Shah, Managing Director, stated: "Battery replacement financing is a natural extension of our vehicle finance franchise - it protects our customers' livelihoods, strengthens our existing portfolio and positions Manba deeper in the fast-growing EV ecosystem."

Strategic Rationale

Product reflects company's strategy of building products around full lifecycle of vehicles and customers. Targets large, recurring and underserved financing need in India's electric three-wheeler segment which continues to lead EV adoption.

Rollout Plan

Product will be rolled out in phased manner across select locations within company's existing footprint, with expansion linked to portfolio performance and market response.

Company Background

Manba Finance Limited (NSE: MANBA | BSE: 544242) is established vehicle-financing NBFC founded in 1996. Offers retail lending products including new and used two-wheeler loans, three-wheeler and electric vehicle loans, used car loans, small business loans and personal loans, with loan book over 90% secured.

Operational Metrics

  • Assets under management: Over ₹1,700 crore
  • Network: 130+ locations across six states (Maharashtra, Gujarat, Rajasthan, Madhya Pradesh, Uttar Pradesh and Chhattisgarh)
  • Partnerships: Over 1,500 dealers
  • Recent expansion: Entry into South India through strategic partnership with Sreesastha (Nammaloan), beginning with Karnataka and Tamil Nadu

Technology Platform

Lending platform delivers in-principle approvals in as little as one minute and fully digital, paperless journey from application to disbursal.