My Mudra Fincorp IPO Day 3: NSE SME issue booked 102 times on high demand from NIIs, retail investors

My Mudra Fincorp Limited IPO closed for subscription on Monday, September 9, with a strong subscription driven by high demand from the Non-Institutional Investors (NIIs). The NSE SME was booked 102.55 times.

My Mudra Fincorp IPO received bids for over 20.62 crore shares compared to the 20.11 lakh shares offered for subscription.

The NIIs booked their quota 159.72 times with bids for 6.88 crore shares compared to 4.3 lakh shares reserved for the category.

My Mudra Fincorp IPO was subscribed 108.76 times in the retail category with applications for over 10.93 crore shares against the 10.05 lakh shares set aside for the segment. The Qualified Institutional Buyers (QIBs) placed bids for 2.8 crore shares compared to 5.74 lakh shares set aside for the category. The QIBs booked their portion 48.83 times.

My Mudra Fincorp IPO issue size and other details

My Mudra Fincorp IPO, worth ₹33.26 crore, comprised an entirely fresh issue of 30.24 lakh shares.

My Mudra Fincorp IPO price band was fixed at ₹104 to ₹110 per share. The minimum lot size for retail investors was a single lot size of 1,200 shares, which aggregated to an investment of ₹1,32,000.

My Mudra Fincorp IPO share allotment status and listing date

My Mudra Fincorp IPO subscription was open from September 5 to September 9. My Mudra Fincorp IPO share allotment status is expected to be finalised by Tuesday, September 10. Refunds will be initiated for unsuccessful bidders on Wednesday, September 11, and shares will be credited into the Demat accounts of successful bidders the same day.

Shares of My Mudra Fincorp are scheduled to be listed on the NSE SME platform, Emerge, on September 12. My Mudra Fincorp shares will be listed on the NSE SME platform.

My Mudra Fincorp IPO objective

My Mudra Fincorp plans to use the money raised via the public issue for repayment of a portion of certain borrowings availed by the company. The proceeds will also be used for investment in technology development and digital infrastructure. A portion of the proceeds will also be used for meeting the working capital requirements of the company and for other general corporate purposes.

About My Mudra Fincorp

My Mudra Fincorp Limited was incorporated in 2013. The company is a Channel Partner and Direct Selling Agent (DSA) for banks and Non- Banking Finance Companies (NBFCs) in India. My Mudra Fincorp is a distributor and seller of financial products and offers secured loans such as home and property loans. The company also offers unsecured loans such as business and personal loans. My Mudra Fincorp had 143 employees as of May 31, 2024.