On the first day of subscriptions, My Mudra Fincorp IPO has received 66 per cent of the total. On Thursday, September 5.
The portion designated for retail individual investors received bids totalling 1.21 times the quota allocated to them, whereas the portion reserved for non-institutional investors (NIIs) was subscribed 0.25 times.
Issue size
Only 30.24 lakh equity shares are being issued fresh in the Rs 33.26 crore IPO; there is no offer-for-sale (OFS) component. The price range for the first share sale, which is open from September 5 to September 9, is Rs 104–Rs 110 per share.
The Rs 33.26 crore book built issue of My Mudra Fincorp is the IPO. The issue consists solely of a new 30.24 lakh share offering.
Price band and minimum bid
The price band for my Mudra Fincorp IPO is Rs 104– Rs 110 per share. An application must have a minimum lot size of 1200 shares. Retail investors are required to invest a minimum of Rs 132,000. HNI requires a minimum investment of two lots (2,400 shares), or Rs 264,000.
Subscription timetable
The subscription period for My Mudra Fincorp IPO begins on September 5, 2024, and ends on September 9, 2024. On Tuesday, September 10, 2024, the allocation for the My Mudra Fincorp IPO is anticipated to be completed. The tentative listing date for My Mudra Fincorp IPO on NSE SME is Thursday, September 12, 2024.
IPO proceedings utilisation
The funds raised will be used for general corporate purposes, working capital requirements, investments in digital infrastructure and technology development, and the repayment of specific loans.
High net worth individuals (HNIs) must invest a minimum of two lots, or Rs 2.64 lakh, to qualify, while retail investors can apply for as little as one lot (1,200 shares), worth Rs 1.32 lakh.
