New Delhi: Peak XV and ADIA-backed One MobiKwik Systems Initial Public Offering (IPO) will open for subscription on December 11, 2024 and close on 13 December. The IPO price band is fixed in the range of Rs 265-279 per equity share for the Rs 572-crore public issue. The company has reduced its IPO size for the third time since it announced the listing plans three years ago from Rs 1,900 crore to Rs 572 crore.
Retail investors are required to bid for a minimum lot of 53 shares, amounting to Rs 14,787. The NII category investors are required to bid for 14 lots, and for bNII, it is 68 lots. Book running lead managers of the Mobikwik IPO – Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) and SBI Capital Markets Limited. Link Intime India Private Ltd is the registrar for the issue.
Mobikwik IPO GMP, allotment, listing
Mobikwik IPO allotment expected on December 16
The refunds process likely to begin on December 17
The shares are expected to be credit to the demat accounts of eligible investors on December 17
The Mobiwik shares will list on BSE and NSE likely on December 18
Mobikwik IPO GMP stood at Rs 130 at around noon on December 10, 2024. With the price band of Rs 279, the Mobikwik shares are expected to be listed at Rs 409, which indicates 46.59 per cent. Important note: GMP figures are not official.
Mobikwik Q2 Results 2024-25: The company which is engaged in the business of providing consumers access to various payment options and financial products in digital credit, investments, and insurance, reported a consolidated total income of Rs 890.3 crore in 2023-24, while it was Rs 561.6 crore in FY23 and Rs 543.2 crore in FY22.
It may be noted that Mobiwik filed for a Rs 700-crore IPO in January 2024. However, later it cut the size of the IPO to Rs 572 crore.
Peak XV Partners (formerly Sequoia Capital India) owned a 16.7 per cent stake, while Abu Dhabi Investment Authority (ADIA) held a 2.8 per cent holding in the Gurugram-based firm.
In its Red Herring Prospectus, the company mentioned that the IPO proceeds worth Rs 150 crore will be used for organic growth in its financial services business, Rs 135 crore for expanding its payment services and Rs 107 crore for research and development in AI, machine learning, and technology, Rs 70.2 crore for capital expenditure on payment devices and general corporate purposes.
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The MobiKwik IPO, backed by Peak XV and ADIA, opens December 11-13, 2024, with a price band of Rs 265-279 per share for a Rs 572 crore issue. Allotment is expected on December 16. The Mobiwik IPO GMO signals shares will listing on BSE and NSE with gains of around 45 per cent. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
