Explore key details about the My Mudra Fincorp IPO, including the date, price, and allotment information.
My Mudra Fincorp is a financial services company specializing in providing a range of lending solutions to individuals and small businesses. It has published that its IPO is going to be open on 5th September and will end on 9th September. It aims to gather INR 33.26 crores with a price band of INR 104 to INR 110 per share and a minimum market lot of 1,200 shares.
Table of Contents
- Company Overview
- Company Strategy
- Details on IPO Date and Price Band
- IPO Objective
- Market Lot Information on My Mudra Fincorp IPO
- Allotment Dates for My Mudra Fincorp IPO
- Application Process of IPO
- Financial Analysis of Company
- IPO Valuation
- Competitor Analysis
- Registrar for My Mudra Fincorp IPO
- Offer Lead Manager
- Company Address
Company Overview
My Mudra Fincorp is involved in the financial sector and offers various lending products that enable individuals, small businesses, and entrepreneurs. Specializing in financial services and products, personal, business, online, and microloans are among the popular products that the firm provides for each client. My Mudra Fincorp strives to provide proper nontraditional segment support with efficient IT product and service delivery and a customer-oriented view. By building close and trustful cooperation with clients and focusing on such values as honesty and efficacy in its operations, the company contributes to the formation of long-term financial liberty and economic development.
Company Strategy
The corporate and business strategy of My Mudra Fincorp Limited aims to enhance financial access by offering appropriate credit products to unbanked people and MSMEs. The company uses advanced technologies in its financial solutions to introduce efficiency in its processes and offer easy and speedy solutions to its clients. With its customer-oriented approach, transparent and ethical operations, and focus on responsible lending, the company has attracted more clients and cultivated their trust, as well as targeted the economic development and penetration of the services it provides in numerous areas.
Details on IPO Date and Price Band
| IPO Open Date: | September 5, 2024 |
| IPO Close Date: | September 9, 2024 |
| Face Value: | INR 10 Per Equity Share |
| IPO Price Band: | INR 104 to ₹110 Per Share |
| Issue Size: | Approx INR 33.26 Crores |
| Fresh Issue: | Approx INR 33.26 Crores |
| Offer for Sale: | NA |
| Issue Type: | Book Built Issue |
| IPO Listing: | NSE SME |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
IPO Objective:
The main goal of My Mudra Fincorp Limited’s IPO is to pre-pay part of the loans that it had taken to enhance its creditworthiness. A large chunk of the funds is planned to be directed toward technology and digital support, which would improve organizational and customer satisfaction. Another use of the IPO funds will be for working capital needs, that is, operational expenses and needs for managing the business effectively and efficiently, as well as any other purposes as may be required in the day-to-day business management of the firm.
Market Lot Information on My Mudra Fincorp IPO
The lot size and corresponding amounts are as follows:
- Retail Minimum: 1 lot (1,200 shares) for INR 132,000
- Retail Maximum: 1 lot (1,200 shares) for INR 132,000
- S-HNI Minimum: 2 lots (2,400 shares) for INR 264,000
Allotment Dates for My Mudra Fincorp IPO
My Mudra Fincorp IPO open date is September 5 and the IPO close date is September 9. The IPO allotment date is September 10 and the listing date is September 12.
| PO Open Date: | September 5, 2024 |
| IPO Close Date: | September 9, 2024 |
| Basis of Allotment: | September 10, 2024 |
| Refunds: | September 11, 2024 |
| Credit to Demat Account: | September 11, 2024 |
| IPO Listing Date: | September 12, 2024 |
Application Process of IPO
The IPO can be accessed by submitting an application through the online ASBA (Application Supported by Blocked Amount) facility from the bank through ‘Internet banking’, going to ‘Invest’, and applying for the My Mudra Fincorp. On the other hand, the IPO forms are also available for download on the NSE websites which the candidates can fill and submit.
Financial Analysis of the Company
Financials in INR Crores.
| Year | Revenue | Expense | Profit After Tax | Assets |
| 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 |
My Mudra Fincorp has reported steady financial growth over the last three years. In 2022, the company generated INR 28.46 crores in revenue, with a modest profit after tax of INR 0.47 crores. By 2024, revenue increased to INR 71.14 crores, and profit after tax grew significantly to INR 8.36 crores. Expenses were well-managed, rising from INR 27.76 crores in 2022 to INR 59.95 crores in 2024. The company’s assets also saw a substantial increase from INR 9.40 crores in 2022 to INR 30.28 crores in 2024, reflecting strong financial health and growth potential.
IPO Valuation (FY 2024)
The company’s EPS stands at a value of INR 10.9 with a Return on Net Worth (RoNW) of 49.74% and a Net Asset Value (NAV) per share of INR 20.29 in the financial year 2024. The IPO price band ranges from INR 104 to INR 110 per share to raise INR 33.26 crores to repay borrowings, invest in technology and digital infrastructure, meet working capital needs, and fund general corporate purposes for growth and expansion.
| Earnings Per Share (EPS): | INR 10.09 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 49.74% |
| Net Asset Value (NAV): | INR 20.29 |
Competitor Analysis
Here is the competitor of My Mudra Fincorp:
Akiko Global Services Limited
Akiko Global Services Limited is an integrated service provider company dealing in multi-sector services that include logistics and supply chain solutions as well as business solutions. The company has therefore laid down its key goals and objectives of providing excellent services through various technologies, paraprofessionals, and consumer orientation. Focusing on operational excellence and dependability, Akiko Global Services strives to maximize client benefit across all areas of their business. The company has always endeavored to capture a bigger market share and boost its service offerings.
My Mudra Fincorp IPO Registrar
Skyline Financial Services Private Ltd
E-mail: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Offer Lead Manager
Hem Securities Limited
Hem Securities Limited is a leading financial services company categorized in the investment advisory domain and operates from India. It was established in 1995 and it deals in a wide range of products including equities, commodities, Investment banking, portfolio management, and wealth management. Hem Securities is engaged in offering consultancy services to small traders as well as large corporates. The firm prides itself on offering customer-oriented services and a commitment to use sophisticated technology to serve clients with a complete package of innovative financial services to help investors experience growth.
Conclusion
The My Mudra Fincorp IPO represents a promising opportunity for investors, aiming to raise INR 33.26 crores to strengthen its financial position, enhance digital infrastructure, and meet working capital needs. The company’s consistent financial growth, with a significant increase in revenue and profit over the last three years, underscores its potential in the financial services sector. Investors should consider the company’s solid market strategy, and technological advancements, and focus on customer-centric solutions when evaluating the IPO, which could contribute to long-term success and expansion.
