My Mudra Fincorp is scheduled to hit the market on September 5, 2024 and close on September 9, 2024. My Mudra Fincorp plans to raise around ₹33.26 Cr through an IPO with a sale of up to 3,024,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
My Mudra Fincorp Limited, incorporated in 2013, serves as a Channel Partner (DSA) for major banks and NBFCs in India. The company specializes in distributing a diverse array of financial products, including secured loans like home and property loans, as well as unsecured loans such as business and personal loans, professional loans, and credit cards. Additionally, My Mudra Fincorp has broadened its offerings to include insurance products, catering to a wide range of customer needs.
The company's clientele consists of private individuals, businesses, and professionals, including chartered accountants (CAs) and company secretaries (CSs). As of May 31, 2024, My Mudra Fincorp employed 143 individuals, with a dedicated team of 10 employees focused on IT and CRM development.
My Mudra Fincorp IPO Details
My Mudra Fincorp IPO opens on September 5, 2024, and closes on September 9, 2024. The Listing date for My Mudra Fincorp IPO is on September 12, 2024. The price band for IPO is ₹104 to ₹110 per share and lot size of 1200 Shares.
| IPO Date | September 5, 2024 to September 9, 2024 |
| Listing Date | September 12, 2024 |
| Price | ₹104 to ₹110 per share |
| Lot Size | 1200 Shares |
| Issue Size | ₹33.26 Cr |
| Face Value | ₹10 per share |
My Mudra Fincorp IPO Tentative Timetable
My Mudra Fincorp opening date is September 5, 2024 and close date is September 9, 2024. The IPO allotment date is September 10, 2024. Therefund initiation of IPO is on September 11, 2024. The credit of shares in demat account is on September 11, 2024. The listing date is on September 12, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 5, 2024 |
| IPO Closing | September 9, 2024 |
| IPO Allotment Date | September 10, 2024 |
| Refund Initiation | September 11, 2024 |
| Shares Credit to Demat | September 11, 2024 |
| Lisiting Date | September 12, 2024 |
My Mudra Fincorp IPO Lot Size
Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹132,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1200 | ₹132,000 |
| Retail(Maximum) | 1 | 1200 | ₹132,000 |
| HNI (Minimum) | 2 | 2400 | ₹264,000 |
My Mudra Fincorp IPO Promoter Holding
| Pre Issue Share Holding | 78.74% |
| Post Issue Share Holding | 57.84% |
My Mudra Fincorp IPO Review
The company is launching its first IPO through a book-building process, offering 3,024,000 equity shares with a face value of Rs. 10 each. The goal is to raise Rs. 33.26 crore at the highest price.
In the last three financial years, the company has shown growth in its income and profits. Here are the figures:
- FY22: Total income of Rs. 28.46 crore and net profit of Rs. 0.47 crore.
- FY23: Total income of Rs. 53.56 crore and net profit of Rs. 3.47 crore.
- FY24: Total income of Rs. 71.14 crore and net profit of Rs. 8.36 crore.
The company has consistently improved its sales and profits.
Over these three years, the average Earnings Per Share (EPS) is Rs. 6.55, and the average Return on Net Worth (RoNW) is 40.34%. The issue price is set at a Price to Book Value (P/BV) of 5.42 based on its Net Asset Value (NAV) of Rs. 20.29 as of March 31, 2024, and at a P/BV of 2.50 based on its post-IPO NAV of Rs. 43.94 per share (at the higher end).
If we consider the earnings from FY24 in relation to the fully diluted paid-up capital after the IPO, the asking price reflects a Price to Earnings (P/E) ratio of 15.01.
For the reported years, the company has had Profit After Tax (PAT) margins of 1.65% in FY22, 6.49% in FY23, and 11.76% in FY24, along with Return on Capital Employed (RoCE) margins of 13.86%, 44.12%, and 45.98% for the same periods.
As per the offer document, the company has shown Akiko Global as their listed peers. It is trading at a P/E of 15.5 (as of August 30, 2024). However, they are not comparable on an apple-to-apple basis. This is the 52nd recommendation from Hem Securities in the last three financial years, including the current one. Out of the last 10 companies that listed their shares, all of them had a premium ranging from 16.35% to 165.22% on their listing day.
The company offers various finance services all in one place. It operates in a very competitive market with many players. The company has shown consistent growth in both its sales and profits. Based on its expected earnings for FY24, the stock seems to be fairly valued. Smart investors might consider investing a moderate amount for the medium term.
My Mudra Fincorp IPO Subscription Status (Bidding Details)
Table not foundMy Mudra Fincorp IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
My Mudra Fincorp IPO FAQs
What is My Mudra Fincorp IPO?
My Mudra Fincorp is issuing 3,024,000 equity shares with a face value of ₹10 each, totaling up to ₹33.26 Cr. The shares are being offered at a price of ₹104 to ₹110 each, with a minimum order quantity of 1200 shares.
Skyline Financial Services Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When My Mudra Fincorp IPO will open?
My Mudra Fincorp will open on September 5, 2024 for QIB, NII, and Retail Investors.
When My Mudra Fincorp IPO will end?
My Mudra Fincorp will end on September 9, 2024.
What is My Mudra Fincorp IPO Size?
My Mudra Fincorp IPO size is ₹33.26 Cr.
What is My Mudra Fincorp IPO Price Band?
My Mudra Fincorp price band is ₹104 to ₹110 per share.
What is the My Mudra Fincorp IPO Allotment Date?
My Mudra Fincorp allotment date is September 10, 2024.
What is the My Mudra Fincorp IPO Listing Date?
My Mudra Fincorp listing date is September 12, 2024. The IPO is to be listed on BSE and NSE.
How to My Mudra Fincorp IPO through Zerodha?
To apply for the IPO “My Mudra Fincorp” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply My Mudra Fincorp IPO through Upstox?
To apply for the IPO “My Mudra Fincorp” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check My Mudra Fincorp IPO Allotment Status?
For My Mudra Fincorp IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is My Mudra Fincorp IPO GMP?
You can check out here: My Mudra Fincorp IPO GMP. Check all IPO GMP here