The initial public offering (IPO) of One Mobikwik Systems was fully subscribed within hours of its launch, demonstrating strong demand on Wednesday, December 11, the first day of subscription.
According to consolidated bid data on NSE (National Stock Exchange) 1.12 crore shares were up for bid, while over 2.92 crore shares were applied for by investors.
Subscription across all categories
The retail portion of the IPO was booked 10.89 times, with bids for over 2.23 crore shares, compared to the 20.50 lakh shares reserved for the category.
The fintech payment company’s initial public offering (IPO) was booked 2.55 times by Non-Institutional Investors (NIIs). The NIIs applied for over 69.08 lakh shares out of the 30.75 lakh shares that were set aside for them.
61.50 lakh shares were set aside for the Qualified Institutional Buyers (QIB) category, but 0.12 per cent of the issue was subscribed for with bids for only 4,452 shares .
Issue size and structure
A 100 per cent book-built offer of 2.05 crore shares is part of the Rs 572 crore Mobikwik IPO issue size. 10 per cent of the issue size has been distributed to retail shareholders, 15 per cent to non-institutional investors, and 75 per cent to qualified institutional buyers (QIBs).
Price band and minimum bid
The Mobikwik initial public offering (IPO) is priced between Rs 265 and Rs 279 per share. For an application, the minimum lot size needed is 53 shares. A minimum investment of Rs 14,787 is needed from retail investors.
For sNII, the minimum lot size investment is 14 lots comprising of 742 shares, which amounts to Rs 207,018, and for bNII, it is 68 lots comprising of 3,604 shares, which amounts to Rs 10,05,516.
Subscription and listing date
The Mobikwik IPO subscription period runs from December 11, 2024, to December 13, 2024. The allocation for the Mobikwik IPO is expected to be finalized on Monday, December 16, 2024.
On Wednesday, December 18, 2024, the Mobikwik IPO is expected to list on the BSE and NSE.
Use of IPO proceeding
The money that is raised will be used to help the financial services and payment industries grow. In addition to general business uses, it will be utilized for investments in data, products, technology, artificial intelligence, and machine learning (ML), as well as capital expenditures for the payment devices industry.
GMP (Grey market price)
The shares of One Mobikwik Systems are currently trading at their issue price of Rs 273 with 48 per cent of premium, as indicated by the grey market premium (GMP) of Rs 136. Hinting the listing at Rs 415 per share
Company financials
The company reported revenue of Rs 87 crore in FY24, which was 62.19 percent higher than the revenue of Rs 39.46 crore in FY23. The previous year’s net loss was Rs 83.81 crore, whereas FY24’s net profit was Rs 14.08 crore.
