The My Mudra Fincorp IPO is a book-built issue valued at Rs 33.26 crores, consisting entirely of a fresh issue of 30.24 lakh shares.
The subscription for the My Mudra Fincorp IPO opens on September 5, 2024, and closes on September 9, 2024. The allotment is expected to be finalized on Tuesday, September 10, 2024. The IPO is set to list on the NSE SME with a tentative listing date of Thursday, September 12, 2024.
The price band for the My Mudra Fincorp IPO is set between ₹104 and ₹110 per share, with a minimum application lot size of 1,200 shares. Retail investors need to invest a minimum of ₹132,000, while HNIs must apply for a minimum of 2 lots (2,400 shares), amounting to ₹264,000.
Hem Securities Limited is the book-running lead manager for the My Mudra Fincorp IPO, with Skyline Financial Services Private Ltd serving as the registrar. Hem Finlease is the market maker for the issue.
Below are the details of My Mudra Fincorp Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
Track All IPOs opening and closing today on our comprehensive list of IPO Watchlist 2024!
My Mudra Fincorp Limited IPO Details
| IPO Date | September 5, 2024 to September 9, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹104 to ₹110 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 3,024,000 shares (aggregating up to ₹33.26 Cr) |
| Fresh Issue | 3,024,000 shares (aggregating up to ₹33.26 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,367,800 |
| Share holding post issue | 11,391,883 |
| Market Maker portion | 153,600 shares |
My Mudra Fincorp Limited IPO Timeline
| IPO Open Date | Thursday, September 5, 2024 |
| IPO Close Date | Monday, September 9, 2024 |
| Basis of Allotment | Tuesday, September 10, 2024 |
| Initiation of Refunds | Wednesday, September 11, 2024 |
| Credit of Shares to Demat | Wednesday, September 11, 2024 |
| Listing Date | Thursday, September 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 9, 2024 |
My Mudra Fincorp Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹132,000 |
| Retail (Max) | 1 | 1200 | ₹132,000 |
| HNI (Min) | 2 | 2,400 | ₹264,000 |
My Mudra Fincorp Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 8,59,200 (28.41%) |
| Market Maker Shares Offered | 1,53,600 (5.08%) |
| QIB Shares Offered | 5,74,800 (19.01%) |
| NII (HNI) Shares Offered | 4,30,800 (14.25%) |
| Retail Shares Offered | 10,05,600 (33.25%) |
| Total Shares Offered | 30,24,000 (100%) |
My Mudra Fincorp Limited IPO Promoter Holding
Vaibhav Kulshrestha And Nisha Kulshrestha are the promoters of the company.
| Share Holding Pre Issue | 78.74% |
| Share Holding Post Issue | 57.84% |
My Mudra Fincorp Limited IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 3,027.82 | 1,485.01 | 939.6 | |||||||||||||||||||||||||||
| Revenue | 7,114.36 | 5,355.8 | 2,846.18 | |||||||||||||||||||||||||||
| Profit After Tax | 835.52 | 346.75 | 46.86 | |||||||||||||||||||||||||||
| Net Worth | 1,679.79 | 844.27 | 437.88 | |||||||||||||||||||||||||||
| Reserves and Surplus | 1,678.61 | 843.08 | 436.81 | |||||||||||||||||||||||||||
| Total Borrowing | 964.41 | 371.1 | 341.2 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
My Mudra Fincorp Limited IPO Review
The My Mudra Fincorp Limited IPO is generating attention for its robust fundamentals and strategic position in the financial sector. Priced between ₹104 to ₹110 per share, the IPO is valued attractively with a P/E ratio of 10.90x, which is below the industry average of 16.15x. This suggests the stock might be undervalued relative to its peers, presenting a potentially good opportunity for investors looking for growth in the SME sector.
The company boasts a diverse portfolio of loan products and strategic partnerships with banks and NBFCs. However, it also faces risks related to its dependency on these partnerships and potential disruptions to its IT systems.
Retail investors need a minimum investment of ₹132,000, while high-net-worth individuals (HNIs) must invest at least ₹264,000. Hem Securities Limited is the lead manager, with Skyline Financial Services handling the registrar duties.
While the company’s operational efficiency and diversified revenue streams are strengths, potential investors should also consider the risks associated with its dependency on banking partnerships and IT infrastructure stability.