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On its opening day, the MobiKwik IPO saw a strong demand, being subscribed 7.32 times overall, with retail investors leading the bids. For the latest Grey Market Premium (GMP) information, please refer to the most recent financial updates or market reports.

MobiKwik IPO

MobiKwik IPO: Investors responded overwhelmingly to One Mobikwik Systems Limited's mainboard initial public offering (IPO) on the first day of subscription. When the fintech giant's ₹572-crore public offering opened for its three-day subscription period on December 11, 2024, it was overbought. On Friday, the problem will close.

In the public offering, One Mobikwik System Ltd. has set aside a minimum of 75% of the equity shares for qualified institutional buyers (QIB), a maximum of 15% for non-institutional institutional investors (NII), and a maximum of 10% for retail investors.

Status of MobiKwik IPO Subscriptions
By the end of the third subscription day, the MobiKwik IPO had 7.32 subscriptions. On the first day of the offering, the retail investor component was subscribed 26.7 times, the QIB portion was booked 0.02 percent, and the NII portion was booked 8.98 times. In contrast to the 1,18,71,696 shares that were offered on Wednesday, the IPO received 8,69,30,070 share applications, according to BSE data.

Today's MobiKwik IPO Latest GMP
The most recent Grey Market Premium (GMP) for the Mobikwik IPO was ₹136, per Invstorgain.com. The predicted listing price, which is determined by adding the cap price to the current GMP, is ₹415 based on the price band of ₹279.00. This corresponds to a projected profit of 48.75 per cent per share.

MobiKwik IPO Information
Through its initial public offering (IPO), which would only involve a new issuance of shares without an offer-for-sale (OFS) component, MobiKwik Systems is expected to raise ₹572 crore. The 2.05 crore shares being offered are completely new. With a face value of ₹2, the issue's price range has been set at ₹265 to ₹279 per equity share. 53 equity shares make up the IPO lot size, and there will be subsequent multiples of 53 equity shares.

Bidding on the issue will end on December 13, 2024. On Monday, December 16, 2024, the allocation for the Mobikwik IPO is anticipated to be finalized. Following the IPO, Mobikwik's shares will be listed on the BSE and NSE stock exchanges, with a provisional listing date set.

SBI Capital Markets Limited and Dam Capital Advisors Ltd (previously IDFC Securities Ltd) are the book-running lead managers (BRLM) for the MobiKwik IPO. In its red herring prospectus (RHP), Link Intime India Private Ltd. MobiKwik, the registrant of the public issue, stated that it is one of the few distinct companies in the financial services and payment industries. As a result, neither Indian nor international businesses are directly comparable in terms of scale or business style.

Details of the MobiKwik Company
Mobikwik is a fintech startup that was founded in March 2008 and provides online payment services and prepaid digital wallets. Customers can use these services to pay for credit card bills, power, and mobile recharges, among other utility costs. Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust, and Narinder Singh are the company's promoters.

The company operates as a platform with a strong two-way payment network that efficiently connects customers and retailers. We are pleased to report that as of June 30, 2024, we have 161.03 million registered users and 4.26 million merchants with the ability to process payments both online and offline.

For FY24, MobiKwik made a profit of ₹14.08 crore. From ₹561.6 crore in FY23 and ₹543.2 crore in FY22, the company's consolidated total income has increased dramatically to ₹890.3 crore. The business experienced difficulties in the last two fiscal years, losing ₹128.16 crore in FY22 and ₹83.8 crore in FY23.

To further improve its technology and product offerings, MobiKwik is dedicated to investing in data, machine learning (ML), and artificial intelligence (AI). In order to prepare the business for major advancements in competitive payments, the money will also be used for capital expenditures for payment devices and general corporate objectives.

Review of MobiKwik's IPO
"Mobikwik is available at Mcap/sales of 2.5x (on FY24 financials) at the upper price band of ₹279, which seems to be a fair pricing. "Geojit Financial Services, a domestic brokerage firm, gave the MbiKwik IPO a "Subscribe" rating over the long term due to its strong brand recall, diversified offerings, rapid scaling, consistent innovation, customer stickiness, and promising industry outlook."
  

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