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TCS, HDFCBANK, SBI Liquid Fund (G)
My Mudra Fincorp Ltd.

MYMUDRA

Equity

NSE

Min. Investment

1,04,000.00

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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

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

ParticularPre-IPOPost-IPO
Percentage78.7457.84
Share Capital65884006588400

Offer to Public

30,24,000.00 Cr

Project Details

  • To meet Working Capital requirements - 70cr
  • Investment in technology development and digital infrastructure - 66cr
  • 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

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS
20243,009.931.18346.75346.754.1979
20231,475.831.1846.8646.860.6256
2022937.251.0746.8646.860.6256
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