In terms of investor reception, the Mobikwik IPO has been a huge success on December 12, the second day of the bidding process opening on its Rs 572.00 crores issue. While the overall bids received till Day 2 stood at 21.67 times the offer, the retail segment attracted a whopping 68.88 times, 0.89 times in QIB, and 31.75 times in the NII category by the end of the second day of bidding.
The first day of the bidding process itself gave an idea that the IPO has been able to generate huge enthusiasm among investors – it was subscribed 7.32 times on December 11, the first day of the bidding process.
Mobikwik IPO GMP, price band
According to investorgain, the Grey Market Premium for Mobikwik IPO stood at Rs 156 on December 13. It was an improvement from the level of Rs 149 on December 12, the second day of the bidding process. The GMP was at 149 on December 11. It had jumped from Rs 100 where it was on December 6. The GMP of Rs 156 signalled a listing gain of 55.91% for Mobikwik IPO shares. However, one must remember that GMP is only an unofficial indicator that guarantees nothing – gain or loss. It also changes with time.
The shares of Mobikwik IPO has been priced at a band of Rs 265-279. A retail investor is required to apply for at least 53 shares since it form the minimum lot size. It will require an application amount of Rs 14,787.
Mobikwik IPO price, allotment dates
Mobikwik IPO shares carry a face value is Rs 2. The price band of Rs 265.00-279.00 per share has been fixed by the management. The minimum lot size that one can apply for Mobikwik IPO consists of 53 shares at a price of Rs 14787.
The allotment of Mobikwik IPO is supposed to be conducted on December 16. The shares will be listed in both BSE and NSE on December 18, 2024.
Mobikwik IPO Review
As many as 8 analysts out of a total of 16 has given ‘Apply’ rating Mobikwik IPO. These are Ajcon Global Services, BP Equities, Geojit Securities, K R Choksey Securities, Marwadi Shares and Finance, Nirmal Bang, Ventura Securities and Swastika Investmart.
The company raised Rs 257.4 crore from anchor investors by placing 92.26 lakh equity shares to 21 funds at Rs 279 a share.
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Mobikwik IPO has attracted more than 64 times subscription in the retail segment of the issue and more than 21 times overall. The fintech firm helps one to pay utility bills, purchase stuff online and offline, transfer money to UPI identities, banks, phone numbers as well as scan QR codes. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
