IPO Details
Bidding Dates
05 Sept 24 - 09 Sept 24
Price Range ₹
104 - 110
Total Equity
₹ 33.26Cr
Lot Size
1200
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
05 Sept 2024
Offer end
09 Sept 2024
Allotment
10 Sept 2024
Refund initiation
11 Sept 2024
Demat transfer
11 Sept 2024
Listing
12 Sept 2024
Offer start
05 Sept 2024
Offer end
09 Sept 2024
Allotment
10 Sept 2024
Refund initiation
11 Sept 2024
Demat transfer
11 Sept 2024
Listing
12 Sept 2024
About Company
Incorporated in 2013, My Mudra Fincorp Limited serves as a Channel Partner (DSA) for major banks and NBFCs across India. The company specializes in the distribution and sale of a wide range of financial products. As a channel partner, it offers secured loans such as home and property loans, unsecured loans like business and personal loans, professional loans, and credit cards to referred customers. Additionally, My Mudra Fincorp has expanded its services to include the sale of insurance products. The company's clientele includes private individuals, businesses, and professionals such as chartered accountants (CAs) and company secretaries (CSs). As of May 31, 2024, My Mudra Fincorp employed 143 people, including 10 employees dedicated to IT and CRM development.
Year Founded
11-09-2013
Promotor Details
Vaibhav Kulshrestha
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 78.74 | 57.84 |
| Share Capital | 6588400 | 6588400 |
Offer to Public
30,24,000.00 Cr
Project Details
- Investment in technology development and digital infrastructure - 66cr
- To meet Working Capital requirements - 70cr
- Repayment of a portion of certain borrowing availed by our Company - 62.5cr
Objectives
- Repayment of a portion of certain borrowing availed by our CompanyInvestment in technology development and digital infrastructureTo meet Working Capital requirementsGeneral Corporate Purpose.
Highlights
- The company serves a broad spectrum of clients, including individuals, corporates, and professionals, which reduces dependence on any single customer segment.
- With a presence in eight states and a robust network of branches, franchise/channel partners, and sub-DSAs, My Mudra Fincorp has strong market reach and distribution capabilities.
- The company has shown impressive growth in both revenue and profit after tax over the past few years, indicating strong business performance and financial health.
- Operating in multiple states across India, the company benefits from regional diversification, reducing the risk associated with reliance on a single market.
- My Mudra Fincorp provides a wide range of financial products, including secured and unsecured loans, professional loans, credit cards, and insurance products, catering to diverse customer needs.
Challenges
- Ongoing legal proceedings involving the company and its promoters present a risk, as unfavorable outcomes could harm the company’s business prospects.
- The company's operations are closely tied to banking partners and financial institutions regulated by the RBI. Changes in regulatory frameworks could disrupt business operations.
- A significant reliance on a small group of customers makes the company vulnerable to revenue loss if any of these key customers are lost or reduce their business.
- The company’s indebtedness, including secured and unsecured loans, poses a financial risk, especially if there are difficulties in servicing or repaying these debts.
- Previous penalties from banks and NBFCs indicate potential issues in compliance or operations, and future penalties could further strain the company’s financial position.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2022 | 937.25 | 1.07 | 835.52 | 835.52 | 10.1153 |
| 2023 | 1,475.83 | 1.18 | 835.52 | 835.52 | 10.1153 |
| 2024 | 3,009.93 | 1.18 | 835.52 | 835.52 | 10.1153 |
