My Mudra Fincorp Limited is dedicated to fostering financial stability by shifting perceptions from viewing loans as burdens to treating them as strategic financial decisions. Founded in 2019, My Mudra has successfully expanded its reach across India, facilitating personal, home, and business loans with favorable terms.

IPO Structure and Subscription Details: The My Mudra Fincorp IPO is a Book Built Issue totaling ₹33.26 Crores, comprising entirely of a Fresh Issue of 30.24 Lakh Shares. The subscription period runs from September 05, 2024, to September 09, 2024. Allotment is expected by September 10, 2024, with the shares slated for listing on the NSE SME around September 12, 2024.

The share price band for the IPO is set between ₹104 and ₹110 per share. Investors must subscribe to a minimum lot of 1,200 shares, requiring a minimum investment of ₹132,000 for retail investors, while High-Net-Worth Individuals (HNIs) need to invest in at least 2 lots (totaling 2,400 shares), amounting to ₹264,000.

Grey Market Premium: The Grey Market Premium (GMP) for My Mudra Fincorp is currently estimated to range between ₹40 to ₹45. While GMP offers an informal gauge of potential listing gains, it is based on unregulated trading and may not accurately reflect final listing prices. GMP is provided for informational purposes and depends on supply and demand dynamics in the grey market.

Live Subscription Status: As of 06:13 PM on September 09, 2024, the My Mudra Fincorp IPO has been subscribed 95.27 times on its final day of the subscription period. For real-time updates on the subscription status, visit the NSE website.

Allotment Information: The allotment date for My Mudra Fincorp IPO shares is set for September 10, 2024. Investors can check their allotment status on the registrar’s website by entering their application number, PAN, or DP Client ID.

Objectives of the IPO: Proceeds from the My Mudra IPO will be allocated as follows:

₹625 Lakhs for partial repayment of company borrowings.

₹660 Lakhs for investing in technology development and digital infrastructure.

₹700 Lakhs to meet working capital requirements.

General corporate purposes.

Company Overview and Financial Performance: My Mudra Fincorp aims to transform the financial landscape by providing accessible loan solutions. The company's management, led by Vaibhav Kulshrestha and Nisha Kulshrestha, brings over 14 years of combined experience in the financial services sector, guiding strategic growth and operations.

Financially, My Mudra has demonstrated significant growth. Revenue increased from ₹2,846.18 Lakhs in FY22 to ₹7,114.36 Lakhs in FY24. EBITDA improved from ₹116.01 Lakhs to ₹1,266.36 Lakhs, and PAT surged from ₹46.86 Lakhs to ₹835.52 Lakhs over the same period.

For the IPO, My Mudra is offering shares with a pre-issue EPS of ₹10.09 and a post-issue EPS of ₹7.33. The pre-issue P/E ratio is 10.90x, while the post-issue P/E ratio stands at 15.00x, compared to the industry average of 16.15x. The company’s ROCE and ROE for FY24 are 45.98% and 66.20%, respectively, indicating a fair valuation of the IPO.

IPO Review: Given My Mudra Fincorp's financial performance and valuation, the IPO is expected to provide 38% to 41% potential listing gains. This makes it a promising option for both short-term gains and long-term investment.

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