My Mudra Fincorp was incorporated on September 11, 2013. The company operates as a Channel Partner (DSA) for major banks and NBFCs in India, distributing financial products such as home loans, personal loans, business loans, credit cards to its customers. The company has recently expanded its services to include the distribution of insurance products.
| Bidding Dates |
|---|
| 05 Sep 2024 - 09 Sep 2024 |
| Subscription |
|---|
| 95.28x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,24,800 | 1 | 1 | 1200 | 3.0 M | ₹104 - ₹110 | 57.83 % | ₹314.5 M - ₹332.6 M | RHP DOC |
My Mudra Fincorp IPO SUBSCRIPTION STATUS
09 Sep '24My Mudra Fincorp IPO overall subscription rate was 95.28 times the total available shares
My Mudra Fincorp IPO retail subscription rate was 144.36 times in the retail segment
My Mudra Fincorp IPO non-institutional investor subscription rate was 211.9 times in the non-institutional investor category
My Mudra Fincorp IPO Qualified Institutional Bidder subscription rate was 25.93 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
09 Sep 2024 (Day 3) | 144.36x | 211.9x | 25.93x |
06 Sep 2024 (Day 2) | 22.96x | 15.41x | 4.56x |
05 Sep 2024 (Day 1) | 7.76x | 4.73x | 3.72x |
My Mudra Fincorp FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 83.6 | 710.7 | 17.6 | -20.7 | 17.8% |
| FY23 | 34.7 | 534.6 | 13.6 | -4.2 | 10.6% |
| FY22 | 4.7 | 283.8 | -0.4 | -11.0 | 4.1% |
My Mudra Fincorp IPO SUBSCRIPTION STATUS DETAILS
My Mudra Fincorp had 3.0 M shares on offer
My Mudra Fincorp IPO offer price was in the range ₹104 - ₹110
My Mudra Fincorp IPO minimum Investment was ₹124800
My Mudra Fincorp IPO issue size was ₹ 314.5 M - ₹ 332.6 M
My Mudra Fincorp had a minimum lot size of 1200 Shares per application
My Mudra Fincorp NUMBER OF SHARES ON OFFER
My Mudra Fincorp IPO IMPORTANT DATES
| Issue Open Date | 05 Sep 2024 |
| Issue close Date | 09 Sep 2024 |
| Allotment Date | 10 Sep 2024 |
| Refund Date | 11 Sep 2024 |
| Demat Account Credit Date | 11 Sep 2024 |
| Listing Date | 12 Sep 2024 |
| Listing on Exchange(s) | NSE |
| My Mudra Fincorp Allotment Status | Exchange |
My Mudra Fincorp IPO subscription opened on 05 Sep 2024, and closed on 09 Sep 2024
IPO allotment for My Mudra Fincorp was finalized on Tuesday, 10 Sep 2024
IPO listing for My Mudra Fincorp was on NSE on Thursday, 12 Sep 2024
My Mudra Fincorp IPO LISTING GAINS
| Issue Price (adjusted) | 110.0 |
| Listing Open Price | 130.0 |
| Listing Close Price | 123.5 |
| Listing Gain% | 18.2% |
| Current Gain% | -27.3% |
My Mudra Fincorp Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| My Mudra Fincorp Ltd. | 80 | 91.1 | 7.6 | 0.2 | 0.8 | 18.3 | 14.4 | 117.8 | 46 | 12 | 33.2 | 10.5 | 33.2 |
| Crisil Ltd. | 4607 | 33691 | 38.1 | 1.8 | 8.2 | 25.2 | 16.5 | 3755.6 | 12.1 | 766 | 12 | 120.9 | 21.5 |
| Central Depository Services (India) Ltd. | 1328 | 27755.2 | 58.9 | -12.4 | 23.5 | 23.3 | 18.8 | 1238.5 | 3.3 | 456.1 | -13.4 | 22.5 | -4.8 |
| IIFL Finance Ltd. | 611.8 | 26022.7 | 12.4 | 0 | 1.8 | 11.9 | 1.9 | 13373.8 | 30.6 | 1660.8 | 338.5 | 49.4 | 548.8 |
| National Securities Depository Ltd. | 821.2 | 16424 | 42.3 | 4.5 | 9.5 | 16 | 9.9 | 1660.2 | 8.1 | 379.7 | 10.7 | 19.4 | 9.4 |
| KFIN Technologies Ltd. | 936 | 16178.4 | 47.4 | -1147.9 | 11.7 | 20.5 | 12.4 | 1343.9 | 19.1 | 343.7 | 3.3 | 19.8 | 0 |
My Mudra Fincorp INFORMATION ON IPO ISSUE
About My Mudra Fincorp
My Mudra Fincorp was incorporated on September 11, 2013. The company operates as a Channel Partner (DSA) for major banks and NBFCs in India, distributing financial products such as home loans, personal loans, business loans, credit cards to its customers. The company has recently expanded its services to include the distribution of insurance products.
Object of the Issue
- Repayment of a portion of certain borrowing availed by the company.
- Investment in technology development and digital infrastructure.
- To meet working capital requirements.
- General corporate purpose.
My Mudra Fincorp - PROMOTERS
| Name |
|---|
| Vaibhav Kulshrestha |
| Nisha Kulshrestha |
My Mudra Fincorp Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
My Mudra Fincorp Registrar to the issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
My Mudra Fincorp Strengths
Partnerships with Banks and NBFCs
The company has established strong partnerships with major banks and NBFCs, allowing it to offer customers competitive financial solutions with attractive terms and rates
No Credit Risk
Since the company aggregates and distributes insurance and personal credit products from insurers and lenders without creating its own, it does not bear underwriting or credit risks
My Mudra Fincorp Risks
Dependent on Few Customers
The company is dependent on few customers. Its top ten customers contribute approximately 63.6% of its revenue for FY24. The loss of business from any of these customers could adversely affect its revenue and profitability
Faced Penal Actions
The company has faced penalties from banks and NBFCs in the past. The company faces the risk of encountering similar penalties in the future, which could negatively impact its financial condition, operations, and profitability
IPO FAQs
The promoters of the company are Vaibhav Kulshrestha and Nisha Kulshrestha.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 104.0 - 110.0.
The IPO application opens on Sep 05, 2024 and closes on Sep 09, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 124,800.0, the maximum value for this IPO is Rs 132,000.0.
This IPO will be allotted on Sep 10, 2024.
The refund will be credited to your account on Sep 11, 2024.
The allotted shares will be credited to your demat on Sep 11, 2024.
My Mudra Fincorp Ltd.’s shares listed on the stock exchanges on Sep 12, 2024.