The scrip was listed at Rs 130, a premium of 18.18% over the initial public offer (IPO) price. The stock was currently down 3.23% over its listing price. The counter hit a high of Rs 130.05 and a low of Rs 123.55. About 11.82 lakh shares of the company changed hands at the counter. My Mudra Fincorp's IPO was subscribed 68.20 times. The issue opened for bidding on 5 September 2024 and it closed on 9 September 2024. The price band of the IPO was set at Rs 104 to Rs 110 per share. The IPO comprised fresh issue of 30,24,000 equity shares. The promoter shareholding diluted to 57.84% from 78.74% pre-issue. The company intends to utilize the net proceeds to meet working capital requirement, repayment of a portion of certain borrowing availed by the company, investment in technology development & digital infrastructure and general corporate purpose. Ahead of the My Mudra Fincorp on 4 September 2024, raised Rs 9.45 crore from anchor investors. The board allotted 8.59 lakh shares at Rs 110 per share to 7 anchor investors. My Mudra Fincorp functions as a channel partner (direct selling agent) for major banks and NBFCs operating in India. The company's 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 NBFC's. The company provides specialized loans such as unsecured loan for professionals like chartered accountants (CAs), company secretaries (CSs), and architects. As on 31 March 2024, the company has total 149 channel partners/ franchises/ sub DSA and the company has 143 employees. The company recorded revenue from operations of Rs 71.07 crore and net profit of Rs 8.35 crore for the period as on 31 March 2024. 79% of total revenue earned from sub-DSA and 85% of revenue shared with sub-DSA on the revenue earned from sub-DSA. Powered by Capital Market - Live