New Delhi-based My Mudra Fincorp was set up in 2013. It acts as a DSA (direct Selling Agent) for several banks and NBFCs in the country and sells/distributes a range of financial products such as home loans, property loans, business loans, personal loans, professional loans and credit cards. It will also sell insurance policies. At the end of May 2024, the company had 143 employees.
Issue size
The IPO that My Mudra Fincorp is floating is a book-built one. It is supposed to mop up Rs 33.26 crores and doesn’t consist of an Offer For Sale (OFS) portion – the entire IPO is a fresh issue of 30.24 lakh shares.
Dates
My Mudra Fincorp IPO will open for bidding on September 5, and the last application for subscription will be accepted on September 9, 2024. The allotment of shares will be carried out on Tuesday, September 10, 2024. The process of refund of money will take place on September 11. The listing will happen on Thursday, September 12 in the NSE SME segment.
Price of shares, lot size
The management of My Mudra Fincorp has fixed the price of an equity share between Rs 104 and Rs 110.
A retail investor can apply for a minimum of 1,200 shares, which will require him/her to commit Rs 1.32 lakh. For the HNIs, the figure is double – a minimum of 2,400 shares which would require an investment of Rs 2.64 lakh.
Financials
At the end of FY24, FY23 and FY22, the revenue of the company stood at Rs 71.14 crore, 53.55 crore and Rs 28.46 crore. Its net profit in the respective years were recorded at Rs 8.35 crore, 3.46 crore and Rs 0.46 crore.
Therefore, the revenue of the company jumped by 32.84% and net profit by 141.33% between FY23 and FY24.
Lead manager
The book running lead manager to the IPO is Hem Securities and Skyline Financial Services Pvt Ltd is the registrar to the issue. Hem Securities is also the market maker.
The business of the company is to offer DSA services to prominent banks and NBFCs in India. It recorded a hefty jump in revenue and net profit between FY23 and FY24. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
