My Mudra Fincorp Ltd IPO Timeline

My Mudra Fincorp Ltd IPO opens on 05-Sep-2024, and closes on 09-Sep-2024. The My Mudra Fincorp Ltd IPO bid date is from 05-Sep-2024 to 09-Sep-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
My Mudra Fincorp Ltd IPO Opening Date 05-Sep-2024
My Mudra Fincorp Ltd IPO Closing Date 09-Sep-2024
Basis of Allotment 10-Sep-2024
Initiation of Refunds 11-Sep-2024
Credit of Shares to Demat 11-Sep-2024
My Mudra Fincorp Ltd IPO Listing Date 12-Sep-2024

My Mudra Fincorp Ltd IPO Lot Size

My Mudra Fincorp Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 132000).

Application Lots Shares Amount
Minimum 1 1200 ₹132000
Maximum 1 1200 ₹132000

My Mudra Fincorp Ltd IPO Details

My Mudra Fincorp Ltd IPO Date 05-Sep-2024 to 09-Sep-2024
My Mudra Fincorp Ltd IPO Face Value Shares of ₹10 per share
My Mudra Fincorp Ltd IPO Price ₹104 to ₹110 per share
My Mudra Fincorp Ltd IPO Lot Size 1200
Issue Size Shares of ₹10 (aggregating up to ₹33.26 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹33.26 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Vaibhav Kulshrestha, Nisha Kulshrestha.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Repayment of a portion of certain borrowings availed by the company
  • 2 Investment in technology development and digital infrastructure
  • 3 To meet working capital requirements
  • 4 General corporate purposes

Company Financials

My Mudra Fincorp Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 30.28 71.14 8.36
03-2023 14.85 53.56 3.47
03-2022 9.40 28.46 0.47
Amount in ₹ Crore
  • 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.
  • 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.
  • Its top ten and top five customers contribute approximately 63.56% and 42.54% respectively of the company's revenues for the financial year ended March 31, 2024. Any loss of business from one or more of them may adversely affect its revenues and profitability.
  • Significant disruptions in its information technology systems or breaches of data security could affect the company's business and reputation.
  • The company is bound by specific obligations and restrictive covenants outlined in the business agreements the company has entered with third parties. Failing to adhere to these obligations and covenants could potentially result in a significant negative impact on its business, prospects, cashflows, and financial condition.
  • The company relies on end consumers using one or more of its services, and are thus vulnerable to changes in consumer preferences and behavior that could adversely affect its profitability and financial condition.
  • The company does not own the registered office, corporate office including branches from which the company carry out its business activities. If there are issues such as non-renewal of rent agreements, disputes regarding the use of these premises, or disruptions in business operations due to actions by its business associates, the company's business and operational results could be adversely affected.
  • If there are delays in the development or implementation of technology or digital infrastructure and the possible time or cost overruns related to the Proposed implementation or development are higher than expected, it could have a material adverse effect on its financial condition, results of operations and growth prospects.
  • Increase in Consumer Complaints May Damage its Reputation, Cause Operational Disruptions, and Affect Financial Performance.
  • The company has limited experience in one of its services related to distribution of Insurance Products and credit cards. If the company is unable to successfully manage its growth, the company's business, prospects, financial condition and results of operations could be adversely affected.
  • Fraud or negligence by employees or franchises, or similar incidents, including operational fraud, may adversely affect its results of operations and financial condition.
  • The internal management of risks associated with statutory requirements applicable to Direct Selling Agents (DSAs) may pose challenges to its operational compliance and financial stability.
  • The Company's logo `MY MUDOA BHAROSE KA DUSRA NAAM' is not registered as on date of this Draft Red Herring Prospectus. Its may be unable to adequately protect the company intellectual property. Furthermore, its may be subject to claims alleging breach of third-party intellectual property rights which could have a material adverse effect on its business, results of operations and financial condition.
  • The Company has faced penal actions from Banks and NBFCs in the past. There is no guarantee that the company will not encounter similar penalties in the future, which could negatively impact its financial condition, operations, and profitability.
  • The company operates in dynamic and competitive online fintech industries, which makes it difficult to predict its future prospects.
  • Interest rate fluctuations may adversely affect the Company's business.
  • The company has experienced negative cash flows from operating activities and may do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations.
  • The Company and Promoters is involved in certain legal proceeding(s) and potential litigations. Any adverse decision in such proceeding(s) may render them liable to liabilities/ penalties.
  • The company requires certain approvals or licenses in the ordinary course of business and the failures to renew, obtain or retain them in a timely manner, or at all, may adversely affect its operations.
  • Its historical performance is not indicative of the company's future growth or financial results and its may not be able to sustain the company historical growth rates.
  • Any Penalty or demand raised by statutory authorities in future will affect financial position of the Company.
  • Stringent and changing laws and regulations relating to privacy and data protection could result in claims, harm its results of operations, financial condition, and prospects, or otherwise harm its business.
  • Adverse publicity and third-party claims regarding its services could negatively impact the company.
  • Sufficient working capital is essential to ensure the seamless daily operation of its business. If, for any reason, there is a disruption or the company encounter difficulties in obtaining the necessary working capital in a timely manner and under favorable terms, it could potentially have a detrimental impact on its operational efficiency, profitability, and prospects for growth.
  • The company may be exposed to the risk of delays or non-payment by its clients and other counterparties, which may also affect its cash flows and business.
  • There are certain discrepancies/errors noticed in some of its corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
  • Employee fraud or misconduct could harm it by impairing the company's ability to attract and retain clients and subject it to significant legal liability and reputational harm.
  • The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
  • The company is dependent on its Promoters and Directors for the continued success of its business through their continuing services and strategic guidance and support.
  • The Company has during the preceding one year from the date of this Draft Red Herring Prospectus have allotted Equity Shares at a price which is lower than the Issue Price.
  • Its insurance coverage may not be adequate to protect the company against certain operating hazards and this may have a material adverse effect on its business.
  • Its may not be successful in implementing the company's business strategies.
  • The average cost of acquisition of Equity Shares by its Promoters, could be lower than the issue price.
  • The company is subject to restrictive covenants under its credit facilities that limit the company operational flexibility.
  • Its Promoter and the Promoter Group will jointly continue to retain majority shareholding in the Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
  • Loans availed by the Company has been secured on personal guarantees of its Promoters and Directors. Its business, financial condition, results of operations, cash flows and prospects may be adversely affected in case of invocation of any personal guarantees provided by its directors.
  • There may be potential conflicts of interest if its Promoters or Directors get involved in any business activities that compete with or are in the same line of activity as its business operations.
  • The company has not made any dividend payments in the past and its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in its financing arrangements.
  • Its may require further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy its capital needs, which the company may not be able to procure and any future equity offerings by the company.
  • The company cannot assure you that its will be able to secure adequate financing in the future on acceptable terms. The company failures to obtain sufficient financing could result in delay or abandonment of its business plans and this may have an adverse effect on its growth and operations.
  • The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
  • The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
  • The company cannot guarantee the accuracy or completeness of facts and other statistics with respect to India, the Indian economy and industry in which the company operates contained in the Draft Red Herring Prospectus.
  • Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by its major shareholders may adversely affect the trading price of the company's Equity Shares.
  • There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the Emerge Platform of NSE Platform in a timely manner or at all.
  • The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
  • Certain data mentioned in this Draft Red Herring Prospectus has not been independently verified.
  • Investors other than retail (including non- institutional investors and Corporate Bodies) are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Amount) at any stage after submitting an Application.
  • The Objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution. Any variation between the estimation and acual expenditure as estimated by the management could result in execution delays or influence its profitability adversely.
  • QIBs and Non-Institutional Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Retail Individual Investors are not permitted to withdraw their Bids after Bid/Issue Closing Date.
  • 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.
  • Enhancing sales, promotional and marketing activities.

My Mudra Fincorp Ltd IPO Promoter Holding

Pre Issue Share Holding 78.74%
Post Issue Share Holding 57.84%

My Mudra Fincorp Ltd IPO Subscription Status (Bidding Detail)

The My Mudra Fincorp Ltd IPO is subscribed 95.2761 times on Sep 09, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 95.2761

My Mudra Fincorp Ltd IPO Prospectus

My Mudra Fincorp Ltd IPO Listing Date

Listing Date 12 Sep 24
BSE Script 93289
NSE Symbol MYMUDRA
Listing In NSE - SME
ISIN INE0RVQ01016
IPO Price ₹110
Face Value ₹10

My Mudra Fincorp Ltd IPO Registrar

Skyline Financial Services Pvt

Phone: 011- 40450193-97
Email: ipo@skylinerta.com
Website: www.skylinerta.com

My Mudra Fincorp Ltd IPO Lead Manager(s)

  1. Hem Securities Ltd

FAQs on My Mudra Fincorp Ltd IPO

My Mudra Fincorp Ltd IPO, which opens for subscription from 05-Sep-2024 to 09-Sep-2024 has an issue size of ₹33.26 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for My Mudra Fincorp Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

My Mudra Fincorp Ltd IPO Opens for subscription from 05-Sep-2024 to 09-Sep-2024.

The lot size of My Mudra Fincorp Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹132000 and ₹132000 respectively.

Allotment date for My Mudra Fincorp Ltd is 10-Sep-2024 and refund of application amount (in case allotment is not received) will begin from 11-Sep-2024. If your allotment goes through, then shares will be credited in your Demat account by 11-Sep-2024.

The registrar for My Mudra Fincorp Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.

The shares of My Mudra Fincorp Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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