MobiKwik IPO Allotment Finalized: Subscription Oversubscribed 120 Times, Strong Grey Market Premium Indicates Healthy Listing Gains

The share allotment for One MobiKwik Systems Limited’s Rs 572-crore initial public offering (IPO), the parent company of the popular fintech platform MobiKwik, will be finalized today, December 16, 2024. The IPO, which was open for subscription for three days, witnessed an overwhelming investor response, with the issue being oversubscribed nearly 120 times. A total of 141.72 crore bids were placed for the 1.18 crore shares on offer.

MobiKwik IPO: Subscription Status Across Categories

• Retail Investors: Oversubscribed 134.67 times
• Qualified Institutional Buyers (QIBs): Subscribed 119.50 times
• Non-Institutional Investors (NIIs): Received 35.27 crore bids for 32.37 lakh shares, resulting in an oversubscription of 108.95 times

How to Check MobiKwik IPO Allotment Status

Investors who applied for the MobiKwik IPO can check their allotment status through the official websites of the NSE, BSE, or the registrar for the IPO, Link Intime Services. Here’s how:

• On BSE:
  1. Visit the BSE IPO Allotment Page
  2. Select “Equity” under “Issue Type”
  3. Choose “One MobiKwik Systems Ltd.” from the dropdown
  4. Enter your application number or PAN
  5. Click “Search” to view your status
• On Link Intime:
  1. Go to the Link Intime IPO Allotment Page
  2. Select “MobiKwik IPO” from the list
  3. Enter your application number, DP/Client ID, or PAN
  4. Click “Submit” to check your status
• On NSE:
  1. Log in with your credentials or register as a new user
  2. Check your allotment status directly on the NSE IPO platform

Next Steps for Investors

For those who are successfully allotted shares, the shares will be credited to their demat accounts by December 17, 2024, while refunds for those who were not allotted shares will also be initiated on the same day. The shares are set to make their debut on the NSE and BSE on December 18, 2024.

Grey Market Premium (GMP) Shows Positive Listing Expectations

MobiKwik’s IPO has generated considerable interest in the grey market, where the current GMP stands at Rs 156. This suggests a potential listing price of Rs 435, which is a 55.91% premium over the upper price band of Rs 279. If these projections hold true, investors can expect substantial listing gains.

About MobiKwik

Founded in March 2008, MobiKwik is a leading fintech company that provides prepaid digital wallets and online payment solutions. The success of the IPO highlights the growing investor confidence in India’s fintech sector and marks a significant milestone for the company in its journey to expand its offerings and market presence.

As the IPO moves toward its listing date, all eyes are now on the strong demand and the exciting prospects it holds for both the company and its investors.