Introduction to My Mudra Fincorp Limited’s IPO

My Mudra Fincorp Limited recently opened its Initial Public Offering (IPO) for subscription last week. The final day of bidding, which was on Monday, saw an impressive 102.48 times subscription. The company aims to raise Rs 33.26 crore through a fresh issue of 30.24 lakh shares. The shares are scheduled to be listed on the NSE SME platform, with a tentative listing date of September 12.

Subscription Details

By Monday evening at 6:03 p.m., My Mudra Fincorp’s IPO subscription details were as follows:

• Qualified Institutional Buyers (QIB): 48.83 times
• Non-Institutional Investors (NII): 159.37 times
• Retail Individual Investors (RII): 108.77 times

The price band for the IPO has been set between Rs 104 to Rs 111.

About My Mudra Fincorp Limited

Founded in 2013, My Mudra Fincorp Limited operates as a channel partner for prominent banks and Non-Banking Financial Companies (NBFCs) in India. The company offers a wide range of financial products, including secured loans such as home and property loans, unsecured loans such as business and personal loans, professional loans, and credit cards. Additionally, My Mudra Fincorp has ventured into the insurance sector.

The company employs a diverse strategy for customer acquisition, combining telemarketing, advertising, direct marketing, referrals, and a unique “physital” (physical and digital) strategy to serve its financial partners effectively.

Conclusion

With a robust subscription rate and a strategic business model, My Mudra Fincorp’s IPO appears promising for investors. The company’s expansion into various financial sectors and its innovative marketing approach add to its potential for growth. Keep an eye out for the listing on September 12 to see how the shares perform on the NSE SME platform.