The Mobikwik IPO has hit D Street with a bang. It has been subscribed more than 7 times – actually 7.32 times – on December 11, the first day of the IPO opening for subscription. It is a book-built issue that has been designed to mop up Rs 572.00 crores. Mobikwik, a fintech company, was incorporated in March 2008. It offers prepaid digital wallets and online payment services.
The services of the company enables one to pay utility bills like mobile phone recharge, electricity; make purchases at online and offline merchants, transfer money to phone numbers, UPI IDs, or bank accounts. It can also be also used to scan QR codes and make payments using UPI. The Mobikwik IPO allotment will be decided on Monday, December 16, 2024. The listing will take place on both BSE and NSE on Wednesday, December 18, 2024.
Mobikwik IPO GMP, price band
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.
According to investorgain, the Grey Market Premium for Mobikwik IPO stood at Rs 149 on December 12, the second day of the bidding process. It stood at the same level on December 11. It rose from 100 where it was on December 6. This indicates a listing gain of 53.41% — a listing at Rs 428 on a maximum price of Rs 279. However, it must be kept in mind that GMP is an unofficial gauge that guarantees nothing – gain or loss. It also changes with time.
Mobikwik IPO review
The Mobikwik IPO has received an ‘Apply’ rating from as many as 8 analysts out of a total of 16 analysts. Those which assigned ‘Apply’ Rating are Ajcon Global Services, BP Equities, Geojit Securities, K R Choksey Securities, Marwadi Shares and Finance, Nirmal Bang, Ventura Securities and Swastika Investmart. Those who assigned ‘May Apply’ include Dilip Davda and Anand Rathi, while 4 analyst firms have not rated the Mobikwik IPO.
Rs 257.4 crore from anchor investors
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. The institutions that bought the shares include Government Pension Fund (Norges Fund), Morgan Stanley Investments, White Oak Capital, HDFC Mutual Fund (MF), Axis MF, SBI MF, and SBI General Insurance.
Bidding for the Mobikwik IPO which targets to raise Rs 572 crore through the sale of fresh shares only will end on Friday, December 13, 2024. Mobikwik, a fintech company, was incorporated in March 2008 and it offers prepaid digital wallets and online payment services. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
