The My Mudra Fincorp IPO is set to open on September 5, 2024, and close on September 9, 2024. This IPO aims to raise approximately ₹33.26 crores through a Book Built Issue. The company is offering a fresh issue of ₹33.26 crores with no offer for sale. The IPO will be listed on the NSE SME platform, and the price band for the shares is set between ₹104 to ₹110 per share.
Investors interested in this IPO should be aware of the allotment details, subscription status, and the key financial metrics of My Mudra Fincorp, which indicate strong growth prospects for long-term investment.
My Mudra Fincorp IPO Details
- IPO Open Date: September 5, 2024
- IPO Close Date: September 9, 2024
- Face Value: ₹10 per equity share
- IPO Price Band: ₹104 to ₹110 per share
- Issue Size: Approx ₹33.26 crores
- Fresh Issue: Approx ₹33.26 crores
- Offer for Sale: NA
- Issue Type: Book Built Issue
- IPO Listing: NSE SME
- Retail Quota: Not more than 35%
- QIB Quota: Not more than 50%
- NII Quota: Not more than 15%
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My Mudra Fincorp IPO Market Lot
The minimum market lot for the My Mudra Fincorp IPO is 1,200 shares, with a total application amount of ₹132,000. This is suitable for retail investors who wish to invest at the entry-level.
| Application Type | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | 1200 | 132,000 |
| HNI Minimum | 2 | 2400 | 264,000 |
My Mudra Fincorp IPO Dates
The timeline for the My Mudra Fincorp IPO is as follows:
- IPO Open Date: September 5, 2024
- IPO Close Date: September 9, 2024
- Basis of Allotment: September 10, 2024
- Refunds Initiated: September 11, 2024
- Credit to Demat Account: September 11, 2024
- IPO Listing Date: September 12, 2024
About My Mudra Fincorp
My Mudra Fincorp operates as a channel partner (DSA) for leading banks and non-banking financial companies (NBFCs) in India. The company provides unsecured loans, secured loans, professional loans, credit cards, and insurance products. It generates revenue primarily through commissions from various financial activities such as loans and insurance.
With a presence in eight states and over 140 franchise/channel partners and sub-DSAs, My Mudra Fincorp is well-positioned for growth. The company’s diverse offerings enhance choice and transparency for customers seeking financial products.
Financial Performance of My Mudra Fincorp
My Mudra Fincorp has shown significant growth over the past three years. The table below outlines its key financial metrics:
| Period Ended | Revenue (₹ Cr.) | Expense (₹ Cr.) | Profit After Tax (₹ Cr.) | Assets (₹ Cr.) |
|---|---|---|---|---|
| 2022 | 28.46 | 27.76 | 0.47 | 9.40 |
| 2023 | 53.56 | 48.70 | 3.47 | 14.85 |
| 2024 | 71.14 | 59.95 | 8.36 | 30.28 |
With a revenue increase from ₹53.56 crores in 2023 to ₹71.14 crores in 2024 and profits climbing from ₹3.47 crores to ₹8.36 crores in the same period, My Mudra Fincorp showcases strong growth and profitability.
Valuation Metrics for FY2024
Below are the key valuation metrics for My Mudra Fincorp based on its FY2024 performance:
- Return on Equity (ROE): 66.20%
- Return on Capital Employed (ROCE): 45.98%
- EBITDA Margin: 17.82%
- PAT Margin: 11.76%
- Debt to Equity Ratio: 0.57
- Earnings Per Share (EPS): ₹10.09 (Basic)
- Net Asset Value (NAV): ₹20.29
These metrics indicate that My Mudra Fincorp has a strong financial foundation, making its IPO an attractive option for long-term investors.
Objects of the Issue
The proceeds from the My Mudra Fincorp IPO will be used for the following purposes:
- Repayment of a portion of certain borrowings.
- Investment in technology development and digital infrastructure.
- To meet working capital requirements.
- General corporate purposes.
My Mudra Fincorp IPO Review
The IPO is gaining attention in the market due to the company’s robust financial performance and growth potential. Several brokerage firms, including Canara Bank, Emkay Global, and IDBI Capital, are expected to provide their reviews soon. Stay updated with the latest IPO grey market premium (GMP) and reviews on our IPO GMP page.
Frequently Asked Questions (FAQs)
What is the My Mudra Fincorp IPO?
The My Mudra Fincorp IPO is an SME IPO aiming to raise ₹33.26 crores through a fresh issue. The IPO is priced between ₹104 to ₹110 per equity share and will be listed on the NSE SME platform.
When will the My Mudra Fincorp IPO open for subscription?
The IPO will open on September 5, 2024, for QIB, NII, and retail investors and close on September 9, 2024.
How can I apply for the My Mudra Fincorp IPO?
Investors can apply for the IPO via ASBA online through their bank accounts or UPI via their stock brokers. Offline applications can be made through stock brokers by filling up the application form.
What is the minimum lot size for the My Mudra Fincorp IPO?
The minimum lot size is 1,200 shares, and the minimum investment amount is ₹132,000.
When will the My Mudra Fincorp IPO be listed?
The IPO will be listed on September 12, 2024, on the NSE SME platform.
Conclusion
The My Mudra Fincorp IPO presents a promising investment opportunity, backed by the company’s strong financial performance and growth potential. Investors looking to diversify their portfolio with a company in the financial services sector may find this IPO particularly appealing. Make sure to stay updated on the latest subscription status, allotment details, and grey market premiums to make informed investment decisions.
For more details on upcoming IPOs, visit our Upcoming IPO page.
