MobiKwik IPO: 39 times filled so far on the third and last day, retail investors are making bumper purchases – mobikwik ipo subscription status day 3 blockbuster response from retail investors check gmp
One MobiKwik Systems IPO: December 13 is the third and last day of the IPO of digital payments firm One MobiKwik Systems Limited (MobiKwik). This issue of Rs 572 crore was opened on December 11. The issue is receiving a bumper response from retail and non-institutional investors. It has been filled 39 times overall till 12.30 pm. The reserve portion for qualified institutional buyers has been subscribed approximately 3 times, the reserve portion for non-institutional investors approximately 67.11 times and the reserve portion for retail investors approximately 100 times.
The allotment will be final on December 16 after the closing of Mobikwik’s IPO. The shares will be listed on BSE, NSE on December 18. The price band for investing money in IPO has been fixed at Rs 265-279 per share. The lot size is 53 shares. Only 2.05 crore new shares are being issued in the IPO. Before the IPO, the company raised Rs 257.40 crore from anchor investors.
What’s going on GMP?
In the gray market, MobiKwik shares are trading at a premium of Rs 156 or 55.91 percent to the upper price band of IPO of Rs 279. Accordingly, shares can be listed at a price of Rs 435. The gray market is an unauthorized market where shares of a company trade until its listing. MobiKwik was started by Bipin Preet Singh and Upasana Taku. As of June 30, 2024, MobiKwik had 161 million users and 426 million merchants on its platform.
How will it use the IPO money?
The company plans to use the money raised by issuing new shares in the IPO for various purposes. These include Rs 150 crore for organic growth in the company’s financial services business, Rs 135 crore for expansion of payment services; This includes Rs 107 crore for research and development in AI, machine learning and technology and Rs 70.2 crore for capital expenditure on payment devices.
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Mobikwik’s financial position
The firm reported revenue of Rs 875 crore for FY2024. A year ago the revenue was Rs 539.46 crore. Net profit stood at Rs 14.08 crore, while the company had a loss of Rs 83.81 crore in FY 2023. In the April-June 2024 quarter, MobiKwik reported revenue of Rs 342.27 crore with a net loss of Rs 6.62 crore.
SBI Capital Markets and DAM Capital Advisors are the book running lead managers to the One MobiKwik Systems IPO. The registrar is Link Intime India Private Limited. 75 percent of the IPO is reserved for qualified institutional buyers, 10 percent for retail investors and 15 percent for non-institutional investors.