The much-awaited Initial Public Offering (IPO) of One MobiKwik Systems Ltd has concluded with an exceptional subscription performance, fueling anticipation ahead of its allotment and market debut. The IPO, which opened for subscription between December 11 and December 13, has garnered an overwhelming 125.69 times subscription, showcasing strong investor interest.
Subscription Breakdown
- Retail investors led the charge with an impressive 141.78 times subscription.
- Non-Institutional Investors (NII) also displayed significant demand, subscribing 114.7 times.
- The Qualified Institutional Buyers (QIB) category saw a robust 125.82 times subscription.
The IPO was priced within a band of Rs 265 to Rs 279 per share, and the fintech giant’s public issue has generated substantial attention from market participants.
MobiKwik IPO GMP: A Strong Market Debut Expected
As of today, MobiKwik’s unlisted shares are commanding a Grey Market Premium (GMP) of Rs 444 per share, reflecting a premium of Rs 165 or 59.14% over the upper price band of Rs 279. This surge in GMP signals a strong market debut for the company when it starts trading on December 18.
IPO Allotment and Listing Timeline
The finalisation of share allotment for MobiKwik IPO is scheduled for the evening of December 16, with a debit message expected in investors’ bank accounts. The shares are set to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 18, 2024.
How to Check Allotment Status
Once the allotment process is concluded, investors can easily check the status of their applications by visiting the official BSE or Link Intime portals. Here’s how:
- Visit the official BSE allotment status page: BSE IPO Allotment Status.
- Select ‘Equity’ as the Issue Type.
- Choose ‘MobiKwik Systems Ltd’ from the dropdown menu.
- Enter your application number or PAN.
- Complete the CAPTCHA and click ‘Search’.
Alternatively, investors can also check their allotment status through the Link Intime portal: Link Intime IPO Status.
Additional IPO Highlights
- IPO Size: The public issue consists entirely of fresh equity shares worth Rs 572 crore, with no Offer for Sale (OFS) component.
- Anchor Investors: MobiKwik secured Rs 257 crore from anchor investors just a day before the IPO launch.
- Revised Issue Size: This marks MobiKwik’s third attempt at going public. Originally planning a Rs 1,900 crore IPO in 2021, the company scaled down its issue size twice, with the current Rs 572 crore offering.
About MobiKwik
Founded by Bipin Preet Singh and Upasana Taku, MobiKwik is one of India’s leading fintech players, providing a wide range of digital credit, payment solutions, investments, and insurance through its flagship app. The reduced IPO size reflects the company’s careful approach to market conditions and its growth strategy.
SBI Capital Markets and DAM Capital Advisors Ltd are the book-running lead managers for the IPO, ensuring a smooth launch process.
With a strong GMP and a record subscription, MobiKwik’s public debut on December 18 is set to be an exciting event in India’s fintech space.
