My Mudra Fincorp IPO
My Mudra Fincorp Ltd
₹1,24,800 /1200 sharesMinimum Investment
My Mudra Fincorp IPO Listing Details
Listed On | Issue Price | Listing Price | Listing Gains |
---|
-- | ₹110.00 | ₹130.00 | ₹20.00 (18.18%) |
My Mudra Fincorp IPO Details
Bidding Dates | Min. Investment | Lot Size | Price Range |
---|
5 Sep ‘24 - 9 Sep ‘24 | ₹1,24,800 | 1,200 | ₹104 - ₹110 |
Qualified Institutional Buyers | 0.00x |
Non-Institutional Investor | 0.00x |
Retail Individual Investor | 0.00x |
Total | 95.28x |
My Mudra Fincorp is a channel partner or direct selling agent (DSA) for major banks and non-banking financial companies (NBFCs) across India. The company offers financial products, including secured loans such as home loans and loans against property, unsecured loans like business and personal loans, professional loans, and credit cards. Recently, the company also started including insurance products in its offerings.
The company follows a business model consisting of tele-calling, advertising, direct marketing, referrals, networking, and a physical and digital marketing strategy to get customers for their banking and NBFC partners.;
Managing director
Mr. Vaibhav Kulshrestha
Parent organisation
My Mudra Fincorp Ltd
Strengths & Financials of My Mudra Fincorp
My Mudra Fincorp serves various types of clients, ranging from individuals and corporates to professionals such as chartered accountants (CAs) and company secretaries (CSs).
The company has a presence in eight states in India, operating through nine branches and a network of over 140 franchise/channel partners and sub-DSAs.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT) over the past few years. The former increased from Rs 28.38 crore in FY22 to Rs 53.46 crore in FY23 to Rs 71.07 crore in FY24, while the latter increased from Rs 0.47 crore in FY22 to Rs 3.47 crore in FY23 to Rs 8.35 crore in FY24.
The company and its promoters are involved in certain legal proceedings. Any adverse judgments in these cases could negatively impact the company’s business prospects.
The company’s revenue relies on banking partners and other financial institutions regulated by the RBI. If the rules and regulations set by RBI regarding the company’s business arrangements with these partners change, it would negatively impact the company’s business operations.
The company relies on its relationships with banks and NBFCs and has contractual agreements with them. Any termination of these pacts could hurt the functioning of the company.
The company’s top 10 customers contributed 63.56%, 77.97%, and 84.79% to its revenue from operations in FY24, FY23, and FY22, respectively. Any loss of these major customers or a fall in business from them could adversely impact the company’s business.
As of March 31, 2024, My Mudra Fincorp's total indebtedness included secured long-term and short-term borrowings of Rs 4.82 crore and unsecured loans of Rs 4.83 crore. Any inability to service or repay these loans on time could negatively impact the company’s business.
The company has previously faced penalties from banks and NBFCs. A recurrence of this in the future could be detrimental to the company’s financial standing.
My Mudra Fincorp Financials
*All values are in Rs. Cr
Application Details of My Mudra Fincorp IPO
Apply as | Price band | Apply upto |
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Regular | ₹104 - 110 | ₹2 - 5 Lakh |
High Networth Individual | ₹104 - 110 | ₹2 - 5 Lakh |
For My Mudra Fincorp IPO, eligible investors can apply as Regular.