My Mudra Fincorp IPO Subscription Status

My Mudra Fincorp's initial public offering (IPO) has garnered significant investor interest, with subscription rates climbing steadily over the three days. Starting strongly on day one, the IPO witnessed a surge in demand, resulting in an impressive 24.06 times oversubscription by the close of day three. This strong response underscores the robust market appetite for My Mudra Fincorp's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 5th September 2024, has seen increasing investor participation across all categories. The Retail segment, in particular, has shown exceptional demand, while the Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB) categories have also demonstrated solid interest.

This enthusiastic response to My Mudra Fincorp IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the financial services sector. The company's role as a Channel Partner (DSA) for major banks and NBFCs, offering a wide range of financial products, appears to have resonated well with investors looking for exposure to India's growing financial services industry.

Subscription Status of My Mudra Fincorp IPO for Days 1, 2, and 3:

On day 1, My Mudra Fincorp IPO was subscribed 5.79 times. By the end of day 2, the subscription status had risen to 13.65 times; on day 3, it reached 24.06 times.

Here are the subscription details for My Mudra Fincorp IPO as of Day 3 (9th September 2024 at 11:35:04 AM):

Total Applications: 26,878

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range. 
• ** The portion of anchor investors is not included in the total number of shares offered.
• *** Market Maker portion is not included to NII/HNI.

Key Highlights:

• My Mudra Fincorp's IPO is subscribed 24.06 times, with strong demand across investor categories.
• Retail investors have shown exceptional interest, with a subscription ratio of 32.07 times.
• Non-Institutional Investors (NII) have demonstrated strong enthusiasm, with a subscription ratio of 26.01 times.
• Qualified Institutional Buyers (QIB) have shown solid interest, with a subscription ratio of 8.58 times.
• The overall subscription trend significantly increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

My Mudra Fincorp IPO - Day 2 Subscription at 13.65 Times

Key Highlights:

• On Day 2, My Mudra Fincorp's IPO was subscribed 13.65 times, with strong demand from Retail Individual Investors (RII).
• Retail investors showed increased interest with a subscription ratio of 17.55 times, nearly tripling their subscription from the previous day.
• The Non-Institutional Investors (NII) category subscription improved to 11.30 times, showing growing interest from this segment.
• Qualified Institutional Buyers (QIB) showed slightly increased interest with a subscription ratio of 8.58 times.
• The overall subscription trend indicated building momentum, with all investor categories showing increased participation.

My Mudra Fincorp IPO - Day 1 Subscription at 5.79 Times

Key Highlights:

• The IPO of My Mudra Fincorp was subscribed 5.79 times on Day 1, with strong initial demand from Qualified Institutional Buyers (QIB).
• QIB investors showed early interest with a subscription ratio of 7.00 times, indicating positive sentiment among institutional investors.
• Retail investors showed solid initial interest with a subscription ratio of 6.04 times.
• Non-Institutional Investors (NII) showed initial interest with a subscription ratio of 3.60 times.
• The strong first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About My Mudra Fincorp IPO:

My Mudra Fincorp Limited, incorporated in 2013, operates as a Channel Partner (DSA) for major banks and NBFCs in India. The company specialises in distributing and selling a wide range of financial products, including secured loans (home and property loans), unsecured loans (business and personal loans), professional loans, credit cards, and insurance products.

My Mudra Fincorp caters to a diverse clientele, including private individuals, businesses, and professionals such as chartered accountants (CAs) and company secretaries (CSs). This broad customer base allows the company to tap into various financial services market segments.

As of 31st May 2024, My Mudra Fincorp employed 143 people, including 10 employees dedicated to IT and CRM development. This substantial workforce indicates the company's commitment to maintaining a strong operational structure and investing in technological capabilities.

Highlights of the My Mudra Fincorp IPO:

• IPO Date: 5th September 2024 to 9th September 2024
• Listing Date: 12th September 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹104 to ₹110 per share
• Lot Size: 1200 Shares
• Total Issue Size: 3,024,000 shares (aggregating up to ₹33.26 Cr)
• Fresh Issue: 3,024,000 shares (aggregating up to ₹33.26 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Hem Securities Limited
• Registrar: Skyline Financial Services Private Ltd
• Market Maker: Hem Finlease