Schedule of My Mudra Fincorp
| Issue open date | 05 Sep 2024 |
| Issue close date | 09 Sep 2024 |
| UPI mandate deadline | 09 Sep 2024 (5 PM) |
| Allotment finalization | 10 Sep 2024 |
| Refund initiation | 11 Sep 2024 |
| Share credit | 11 Sep 2024 |
| Listing date | 12 Sep 2024 |
| Mandate end date | 24 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 10 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 09 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About My Mudra Fincorp
Established in 2013, My Mudra Fincorp functions as a channel partner and direct selling agent (DSA) for major Banks and NBFCs operating in India. The business model integrates tele-calling, advertising, direct marketing, referrals, networking, and a combined physical and digital (Physital) marketing approach to acquire customers for the banks and NBFCs. It serves a diverse clientele, including individuals, corporates, and professionals like Chartered Accountants (CAs) and Company Secretaries (CSs). The company has established its presence in 8 states across India, namely Chandigarh, Delhi, Haryana, Maharashtra, Odisha, Uttrakhand, and Rajasthan. Through franchise or channel partners, The company’s network comprises 9 branches, more than 140 franchise/channel partners, and Sub DSAs.
Financials of My Mudra Fincorp
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹33.26 crores |
| Fresh Issue | ₹33.26 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Debt | 6.25 (18.8%) |
| Working capital requirements | 7 (21.05%) |
| Investment in technology | 6.6 (19.85%) |
| General corporate purposes | 8.32 (25%) |
| Others | 5.09 (15.3%) |
Strengths
- The company’s strong portfolio and diverse range of products across consumer preferences include secured loans (home loans and loans against property), unsecured loans (business loans and personal loans), Professional loans, credit cards, and recently, insurance products.
- The company has established strong partnerships with major Banks and NBFCs. These alliances enable it to provide customers with competitive and attractive financial solutions.
- As the company aggregates and distributes insurance and personal credit products offered by insurers and lenders and does not create any own products, It does not carry any corresponding underwriting or credit risks, This ensures a capital-efficient model with low operating costs.
Risks
- The company’s business is dependent on its relationship with Banks & NBFCs. Any termination of these existing relationships would adversely affect the business operations, financial condition, and prospects.
- The company’s 64% revenues are dependent on its top 10 customers. Any inability to maintain such business may hurt its results of operations.
- The Company has faced penal actions from Banks and NBFCs in the past. There is no guarantee that it will not encounter similar penalties in the future, which could negatively impact the financial condition, operations, and profitability.
- The company operates in a dynamic and competitive online fintech industry, which makes it difficult to predict its prospects.
- It may be exposed to the risk of delays or non-payment by clients and other counterparties, which may also affect cash flows and business.