The much-anticipated MobiKwik IPO is set to open for subscription on December 11, 2024, and will close on December 13, 2024. The ₹572 crore initial public offering of One MobiKwik Systems Limited promises to be a significant opportunity for retail and institutional investors alike.
Let’s dive into the details of the IPO, its price band, lot size, financials, and more.
Key Highlights of the MobiKwik IPO
Issue Size : ₹572 crore (100% fresh issue, no offer-for-sale).
Price Band: ₹265-₹279 per share.
Lot Size: Minimum 1 lot = 53 shares = ₹14,787.
Subscription Dates: Opens on December 11, 2024, and closes on December 13, 2024.
Anchor Investors: Bidding opens for anchor investors on December 10, 2024.
Purpose of the IPO
MobiKwik aims to utilize the funds raised through the IPO for the following purposes:
Expansion of financial and payment services businesses.
Investment in machine learning (ML), artificial intelligence (AI), and technology development.
Growth in digital credit products and data infrastructure.
Capital expenditure for payment devices.
General corporate purposes.
MobiKwik IPO: Subscription and Allotment Details
- 75% reserved for Qualified Institutional Buyers (QIBs).
- 15% for Non-Institutional Investors (NIIs).
- 10% for Retail Investors.
Important Dates:
- Subscription Period: December 11-13, 2024
- Allotment Finalization: December 16, 2024
- Refund Initiation: December 17, 2024
- Credit of Shares to Demat Account: December 17, 2024
- Listing on BSE and NSE: December 18, 2024
MobiKwik: Company Overview
Founded by Bipin Preet Singh and Upasana Taku, MobiKwik has grown into a robust platform business with a two-sided payment network for consumers and merchants. The company has:
- 161.03 million registered users.
- Enabled 4.26 million merchants to process online and offline payments.
- The MobiKwik app, available on Google Play Store and Apple App Store, offers diverse products, including:
- Digital credit.
- Investments and insurance.
- Payment and financial services for users and businesses.
- Financial Performance
- MobiKwik’s financials reflect steady growth:
Revenue: ₹875 crore in FY24 (62.19% growth from ₹539.46 crore in FY23).
Net Profit: ₹14.08 crore in FY24, a significant turnaround from a net loss of ₹83.81 crore in FY23.
Disclaimer - This article does not provide any recommendation, investors are requested to consult there financial advisor before investment