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My Mudra Fincorp Limited IPO And Its GMP
My Mudra Fincorp Limited functions as a Channel Partner (DSA) for major Banks and NBFCs operating in India. Their business model integrates tele-calling, advertising, direct marketing, referrals, networking and a combined physical and digital (physical) marketing approach to acquire customers for the banks and NBFCs.
Specializing in the distribution and sales of a diverse range of financial products as channel partners, they offer secured loans such as home loans and loans against property, unsecured loans like business loans and personal loans, professional loans as well as credit cards to the procured customers. Recently, they have expanded their services to include the distribution of insurance products.
- •Book Running Lead Manager: Hem Securities Limited
- •Registrar: Skyline Financial Services Private Ltd
- •Market Maker: Hem Finlease
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
My Mudra Fincorp Limited IPO And Its GMP GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-09-11 | 110 | 36.0 (33%) | 2024-09-11 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
My Mudra Fincorp Limited IPO And Its GMP Details
| Detail | Description |
|---|---|
| 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 |
| Shareholding pre issue | 8,367,800 |
| Share holding post issue | 11,391,883 |
| Market Maker portion | 153,600 shares Hem Finlease |
My Mudra Fincorp Limited IPO And Its GMP Timeline
| Detail | Description |
|---|---|
| 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 And Its GMP 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 And Its GMP Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 78.74% | 57.84% |
Company & Financials
My Mudra Fincorp Limited was incorporated in 2013 and acts as a Channel Partner (DSA) for major banks and NBFCs in India. The company specializes in the distribution and sale of a wide range of financial products. As a channel partner, the company offers secured loans such as home and property loans, unsecured loans such as business and personal loans, professional loans as well as credit cards to the referred customers. The company has also expanded its services to include the sale of insurance products. The company's customers include private individuals, businesses and professionals such as chartered accountants (CAs) and company secretaries (CSs).
Competitive Strength:
My Mudra Fincorp Limited IPO And Its GMP Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 3,027.82 | 7,114.36 | 835.52 | 1,679.79 | - | 964.41 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 1,485.01 | 5,355.8 | 346.75 | 844.27 | - | 371.1 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 939.6 | 2,846.18 | 46.86 | 437.88 | - | 341.2 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 66.20% |
| ROCE | 45.98% |
| RoNW | 49.74% |
| PAT Margin (%) | 11.76 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.98 | 7.33 |
| P/E (x) | 11.02 | 15 |
Objectives of My Mudra Fincorp IPO
The company intends to utilize the proceeds of the Issue to meet the following objectives:
- 1.Repayment of a portion of certain borrowing availed by the Company
- 2.Investment in technology development and digital infrastructure
- 3.To meet Working Capital requirements
- 4.General Corporate Purpose
My Mudra Fincorp IPO Review
The company is engaged in providing finance-related services under one roof. It is operating in a highly competitive and fragmented segment. It posted steady growth in its top and bottom lines. Based on FY24 super earnings, the issue relatively appears fully priced. Well-informed investors may park moderate funds for the medium term.
My Mudra Fincorp IPO Review
The company is engaged in providing finance-related services under one roof. It is operating in a highly competitive and fragmented segment. It posted steady growth in its top and bottom lines. Based on FY24 super earnings, the issue relatively appears fully priced. Well-informed investors may park moderate funds for the medium term.
RHP:
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Frequently Asked Questions (FAQs)
-
What is My Mudra Fincorp IPO?
My Mudra Fincorp IPO is a SME IPO. The company is going to raise ₹33.26 Crores via IPO. The issue is priced at ₹104 to ₹110 per equity share. The IPO is to be listed on NSE & SME.
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When will my Mudra Fincorp IPO open for subscription?
The IPO is to open on September 5, 2024, for QIB, NII, and Retail Investors. The IPO will close on September 9, 2024.
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What is My Mudra Fincorp IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
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What is My Mudra Fincorp Issue Size?
My Mudra Fincorp issue size is ₹33.26 crores.
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What is My Mudra Fincorp IPO Price Band?
My Mudra Fincorp IPO Price Band is ₹104 to ₹110.
-
What is My Mudra Fincorp IPO Lot Size?
The minimum bid is 1200 Shares with₹132,000.
-
What is the My Mudra Fincorp IPO Allotment Date?
My Mudra Fincorp IPO allotment date is September 10, 2024.
