My Mudra Fincorp Ltd IPO
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My Mudra Fincorp Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 30.24 L | TBA | ₹ 10.06 L | ₹ 65.88 L | NSE | ₹ 33.26 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 05 Sep, 24 | 09 Sep, 24 | 1200 | ₹ 1,24,800 | Book Building - SME | 12 Sep, 24 |
My Mudra Fincorp Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Finance & Investments |
| Sub Sector | NA |
| Issue Type | Book Building - SME |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 19.57x | 1434000 | 28068000 |
| NII | 159.72x | 430800 | 68809200 |
| Retail | 108.77x | 1005600 | 109376400 |
| Employee | 0x | 0 | 0 |
| Total | 68.21x | 3024000 | 206253600 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
My Mudra Fincorp Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 11.77 | 5.28 | 0.86 |
| EBITDA | 12.35 | 5.70 | 1.02 |
| PAT | 8.36 | 3.47 | 0.47 |
| Total Assets | 20.89 | 10.43 | 6.00 |
| Share Capital | 0.01 | 0.01 | 0.01 |
| Total Borrowings | 11.03 | 4.72 | 3.86 |
| Operating Activities (Net Cash) | 8.94 | 3.89 | 0.63 |
| Investing Activities (Net Cash) | -3.37 | -1.22 | 0.26 |
| Financing Activities (Net Cash) | 11.03 | 4.72 | 3.86 |
| Net Cashflow | 1.93 | 0.73 | 0.44 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About My Mudra Fincorp Ltd
My Mudra Fincorp Limited was originally incorporated as My Mudra Fincorp Private Limited on September 11, 2013 vide Registration Certificate No. 257611 under the provisions of the Companies Act, 1956 with the Registrar of Companies, National Capital Territory of Delhi and Haryana (RoC). Further, pursuant to special resolution passed by the shareholders at the extra ordinary general meeting, held on August 11, 2023 the Company was converted into a Public Limited Company and the name of the Company was changed from My Mudra Fincorp Private Limited to My Mudra Fincorp Limited vide a fresh certificate of incorporation dated October 19, 2023, CIN: U65191DL2013PLC257611 issued by the Registrar of Companies, Delhi (RoC).
The Indian financial services sector is thriving, driven by rising incomes and financial inclusion, with the insurance market projected to reach US$ 1 trillion by 2025. The fintech space is expanding rapidly, with over 2,100 companies, and the mobile wallet industry is expected to grow at a CAGR of 148% to US$ 4.4 billion by 2022. Government policies, including increasing the FDI limit in insurance to 74%, support this growth. Digital transactions are set to rise to US$ 1 trillion by 2023, with UPI transactions reaching 11.23 billion worth US$ 208.51 billion in November 2023. The banking sector is also growing, with digital payments projected to constitute 65% of all transactions by 2026.
Established in 2013, the company operates as a Channel Partner (DSA) for major Banks and NBFCs in India. The Company integrates tele-calling, advertising, direct marketing, referrals, networking, and a combined physical and digital (physital) approach to acquire customers. It specializes in distributing secured loans (home loans, loans against property), unsecured loans (business loans, personal loans, professional loans), and credit cards. Recently, the company expanded to include insurance products. Its platform allows customers to research and compare a wide range of financial products, enhancing choice and transparency.
Peer Comparison:
- Akiko Global Services Ltd
My Mudra Fincorp Ltd IPO Key Points
Strengths
- Strong portfolio and diverse range of Loan products across consumer preferences.
- Diversified revenue from multiple locations and geographies of India.
- Capital efficient model with low operating costs.
- Strategic Partnerships with Banks and NBFCs.
- Experienced Leadership and Management.
Risk
- The company's business is depended on its relationship with Banks & NBFCs. The company has entered into agreements with major Banks and NBFCs, any termination of these existing relationship would adversely affect its business, results of operations, financial condition and prospects.
- A substantial portion of the revenue is generated from its banking partners and financial institutions. The company banking partners and financial institutions are regulated by the Reserve Bank of India (RBI) and any change in the RBI's policies, decisions and regulatory framework could adversely affect its business, cash flows, results of operations and financial condition.
- The proper functioning of its online platform and technology infrastructure is essential to the company's business. Any disruption to its IT systems and infrastructure could materially affect the company's ability to maintain the satisfactory performance of its platform and deliver consistent services to the company's users.
Strategy
- Broaden and deepen our Consumer reach in India.
- Product diversification.
- Continue to invest in its digital and technology infrastructure.
- Increasing Collaboration with Banks & NBFCs.
- Strengthening Customer Retention.
- Strong portfolio and diverse range of Loan products across consumer preferences.
- Diversified revenue from multiple locations and geographies of India.
- Capital efficient model with low operating costs.
- Strategic Partnerships with Banks and NBFCs.
- Experienced Leadership and Management.
How To Apply for My Mudra Fincorp Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
