My Mudra Fincorp IPO Listing: The shares of loan distributing company My Mudra Fincorp were listed on the SME platform of the stock market NSE on Thursday. This IPO received a very good response from investors and it was subscribed more than 102 times. The company’s shares have been listed in the market at Rs 130. At the same time, the price band of the shares in the IPO was released at Rs 110. In such a situation, investors have got a listing gain of 18.2 percent. However, the special thing is that the company’s shares were trending at a 33 percent premium in the gray market. In such a situation, according to GMP, the company’s shares have not been listed.
The IPO got a good response from investors
My Mudra Fincorp’s IPO received a good response from investors. This IPO received a total subscription of 102.48 times. In this, qualified institutional buyers (QIB) subscribed their share up to 48.83 times. At the same time, non-institutional investors (NII) subscribed their share up to 159.37 times and retail investors subscribed their share up to 108.77 times. The company had issued 3,024,000 lakh shares with a face value of Rs 10. The company had issued all these shares fresh.
This IPO of Rs 33.26 crore was open between 5th and 9th September 2024. The price band of the shares in the IPO was fixed between Rs 104 and Rs 110 per share. In the IPO, the company had fixed a lot of 1200 shares.
What will the company do with the IPO money?
The company will use the money raised through the IPO to fulfill various purposes. Some money will be used to repay old loans. Some will be used for technology development and investment in digital infrastructure. Along with this, some money will be used to meet working capital requirements and corporate purposes.
Congratulations My Mudra Fincorp Limited on getting listed on NSE Emerge today! The company acts as a Channel Partner (DSA) for major banks and NBFCs in India. The Public Issue was of Rs.3,326.40 lakhs at an issue price of Rs.110 per share. To know more about SME IPO eligibility… pic.twitter.com/rZN63X1HMF
— NSE-India (@NSEIndia) September 12, 2024
How is the financial position of the company?
My Mudra Fincorp works with many big banks and NBFCs of the country. The company distributes many types of loans like home loan, business loan, property loan, personal loan etc. Apart from this, the company also provides services in the insurance sector. The financial condition of the company has been good in the last few years. In the financial year 2022, the company earned a profit of Rs 46.86 lakh. At the same time, in the financial year 2023, it increased to Rs 3.47 crore. In the financial year 2024, it has reached Rs 8.36 crore.
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