MobiKwik IPO Creates Waves in the Market
The initial public offering (IPO) of One MobiKwik Systems Ltd, a leading fintech firm, has achieved phenomenal success, receiving a massive 119.38 times subscription during its three-day share sale. Concluding on December 15, 2024, the IPO has garnered significant interest from retail investors, qualified institutional buyers (QIBs), and non-institutional investors alike.
MobiKwik IPO Subscription Highlights
- Total Subscription: 1,41,72,65,686 bids against the 1,18,71,696 shares offered.
- Retail Investors: Subscribed 134.67 times.
- QIBs: Oversubscribed 119.50 times.
- Non-Institutional Investors: Subscribed 108.95 times.
Allotment and Listing Details
- Allotment Date: December 16, 2024.
- Listing Date: December 18, 2024, on BSE and NSE.
- Price Band: Rs 265 to Rs 279 per share.
Investors can check their allotment status online through the BSE, NSE, or LinkIntime portals using their PAN or application number.
Company Overview
Founded by Bipin Preet Singh and Upasana Taku, MobiKwik is a trailblazer in the fintech space, offering digital payment solutions, credit services, investments, and insurance. The company reduced its IPO size from Rs 1,900 crore in 2021 to Rs 572 crore, reflecting its strategic adjustment to market conditions.
Anchor Investor Participation
Ahead of the IPO, MobiKwik secured Rs 257 crore from anchor investors, underscoring strong institutional confidence.
IPO Lead Managers
The offering was managed by SBI Capital Markets and DAM Capital Advisors Ltd, ensuring seamless execution.
Conclusion
The overwhelming response to MobiKwik’s IPO signals investor confidence in the fintech sector and the company’s growth potential. With listing day approaching, market enthusiasts are keen to see how MobiKwik performs on the stock exchanges.
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