The initial public offering (IPO) of One MobiKwik Systems Ltd, the parent company of the digital payments platform MobiKwik, concluded on December 13th with an impressive oversubscription rate. The IPO was booked 119.33 times, attracting bids for over 141.72 crore shares against the 1.18 crore shares available. This translates to a total bid value of nearly ₹39,541 crore, reflecting strong investor confidence in the company’s future prospects.
MobiKwik IPO Allotment and Listing
With the IPO bidding period closed, the share allotment process is scheduled for completion on December 16th. Investors can conveniently check their allotment status online through the websites of the NSE, BSE, and the IPO’s registrar, Link Intime India Pvt. Ltd.
MobiKwik shares are slated to be listed on both the NSE and BSE on December 18th.
Checking Your Allotment Status
NSE Website:
- Visit the NSE IPO allotment status page.
- Log in if you are a registered user, or register if you are a new user.
- Select the MobiKwik IPO from the dropdown menu.
- Enter your application number and PAN details.
- Click ‘Submit’ to view your allotment status.
Registrar’s Website:
- Visit the Link Intime India Pvt. Ltd website.
- Select the MobiKwik IPO from the list of active issues.
- Enter your application number, PAN, or DP/Client ID.
- Click ‘Submit’ to check your allotment status.
About MobiKwik and its IPO
Founded in March 2008, One MobiKwik Systems Ltd is a leading fintech company in India. MobiKwik offers a range of services including prepaid digital wallets, online payment solutions, bill payments, money transfers, and bank balance checks. The platform also facilitates payments through QR codes using UPI or Rupay credit cards.
Key IPO details:
- The MobiKwik IPO is a book-built issue valued at ₹572 crore.
- It comprises a fresh issuance of 2.05 crore shares.
- The IPO price band was set at ₹265 and ₹279 per share.
- The minimum lot size for retail investors was 53 shares.
- SBI Capital Markets Limited and Dam Capital Advisors Ltd are the book-running lead managers for the IPO.
Use of Proceeds and Financial Performance
MobiKwik plans to utilize the proceeds from the IPO to fuel the growth of its financial services and payment services businesses. The funds will also be invested in areas such as data, machine learning (ML), artificial intelligence (AI), product development, and technology enhancements.
The company has demonstrated strong financial performance, reporting a profit of ₹14.1 crore for the fiscal year 2024, compared to a loss in the previous fiscal year. Its revenue from operations also witnessed substantial growth, reaching ₹875 crore in FY24.
Shareholding Structure
The promoters of MobiKwik include Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust, and Narinder Singh Family Trust. Their collective shareholding in the company is expected to decrease from 32.96% to 25.18% post IPO.
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