My Mudra Fincorp IPO: The initial public offering of My Mudra Fincorp Ltd, which was opened for public subscription status, on Thursday, received around 7 times subscription. The price band of the SME IPO has been fixed at Rs 104-Rs 110 per share. Till 10:28 am on the first day of bidding on Friday, the Rs 30.24-crore IPO received a 6.65 times subscription garnering bids for 1,33,78,800 shares as against the 20,11,200 shares on offer.
The category for non-institutional investors received 3.72 times subscription, while the portion for retail individual investors (RIIs) got subscribed 7.71 times. The QIB category got a 7.00 times subscription.
The IPO will be closed on September 9. The share allotment is likely to take place on September 10, while the listing will happen on September 12.
My Mudra Fincorp IPO GMP Today
According to market observers, unlisted shares of My Mudra Fincorp Ltd are trading Rs 40 higher in the grey market than its issue price. The Rs 40 grey market premium or GMP means the grey market is expecting a 36.36 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
My Mudra Fincorp IPO: More Details
My Mudra Fincorp IPO is a book built issue of Rs 33.26 crore. The issue is entirely a fresh issue of 30.24 lakh shares.
My Mudra Fincorp Limited, which was incorporated in 2013, acts as a Channel Partner (DSA) for major banks and NBFCs in India. The company specialises in the distribution and sale of a wide range of financial products.
My Mudra Fincorp IPO opens for subscription on September 5, 2024 and closes on September 9, 2024. The allotment for the My Mudra Fincorp IPO is expected to be finalized on Tuesday, September 10, 2024. My Mudra Fincorp IPO will list on NSE SME with tentative listing date fixed as Thursday, September 12, 2024.
My Mudra Fincorp IPO price band is set at Rs 104 to Rs 110 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is Rs 1,32,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,64,000.
Hem Securities Limited is the book running lead manager of the My Mudra Fincorp IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for My Mudra Fincorp IPO is Hem Finlease.