My Mudra Fincorp Limited is dedicated to fostering a financially stable society by transforming the perception of loans from burdens to well-planned financial decisions. Established in 2019, My Mudra has expanded its presence across all states in India, serving as a bridge between individuals and banks, offering personal, home, and business loans at competitive interest rates.

IPO Details and Subscription Period

The My Mudra Fincorp IPO is a Book Built Issue amounting to ₹33.26 Crores, consisting entirely of a Fresh Issue of 30.24 Lakh Shares. The subscription period for the IPO opens on September 05, 2024, and closes on September 09, 2024. The shares are expected to be listed on NSE SME around September 12, 2024, with the allotment finalized on September 10, 2024.

Share Price Band and Lot Size

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

Grey Market Premium

The Grey Market Premium (GMP) for My Mudra Fincorp IPO is estimated to be between ₹40 and ₹45. While GMP offers an indication of potential listing gains, it is not a guaranteed predictor of the final listing price. GMP is influenced by demand and supply in the unregulated grey market and should be considered for informational purposes only.

Subscription Status

As of September 09, 2024, at 06:13 PM, the My Mudra Fincorp IPO has been subscribed 95.27 times on its last day of the subscription period. For the latest subscription status, investors can check the NSE website.

Allotment Status

The allotment status for My Mudra Fincorp IPO will be available on September 10, 2024. Investors can verify their allotment status by visiting the registrar’s website and entering their application number, PAN, or DP Client ID.

Objectives of the IPO

Proceeds from the Fresh Issue will be used as follows:

₹625.00 Lakhs for repayment of a portion of outstanding borrowings.

₹660.00 Lakhs for investment in technology development and digital infrastructure.

₹700.00 Lakhs to meet working capital requirements.

General corporate purposes.

Financial Performance and Valuation

My Mudra has shown impressive financial growth, with revenue increasing from ₹2,846.18 Lakhs in FY22 to ₹7,114.36 Lakhs in FY24. EBITDA and PAT have also demonstrated strong upward trends. The IPO is priced with a pre-issue EPS of ₹10.09 and a post-issue EPS of ₹7.33. The pre-issue P/E ratio stands at 10.90x, while the post-issue P/E ratio is 15.00x, compared to an industry P/E ratio of 16.15x. The company’s ROCE for FY24 is 45.98% and ROE is 66.20%, indicating robust financial health.

Investment Recommendation

The My Mudra Fincorp IPO offers potential listing gains estimated between 38% and 41%. Given the company’s strong financial performance and reasonable valuation, we recommend considering the IPO for both short-term gains and long-term investment.

For more IPO updates and market insights, visit Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi and Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst & Finance Saathi Telegram Channel for Regular Share Market, News & IPO Updates.

Start your Stock Market Journey and Apply in IPO by Opening a Free Demat Account in Choice Broking FinX.