Market News
4 min read | Updated on December 13, 2024, 23:41 IST
SUMMARY
One MobiKwik Systems Ltd shares are scheduled to be listed on both the NSE and BSE on December 18. The MobiKwik IPO is a book-built issue worth ₹572 crore. The issue consisted entirely of a fresh issuance of 2.05 crore shares.
MobiKwik IPO share allotment on December 16: Steps to check status on NSE, BSE and Link Intime India
The initial public offering (IPO) of One MobiKwik Systems Ltd, the parent firm of online payments platform MobiKwik, closed with a strong subscription on Friday, December 13.
On the last day of bidding the issue was booked 119.33 times with bids for over 141.72 crore shares against 1.18 crore shares on offer. The value of the total bids received amounted to nearly ₹39,541 crore ((including anchor investors). The mainboard IPO opened for subscription on December 11.
With the bidding period now over, the IPO share allotment is scheduled to be finalised on December 16. Investors can check the MobiKwik IPO allotment status online through the websites of the NSE, BSE and issue registrar Link Intime India Pvt. Ltd.
One MobiKwik Systems Ltd, founded in March 2008, is a fintech company offering prepaid digital wallets and online payment services. It enables consumers to pay utility bills, make purchases at online and offline merchants, transfer money, check bank balances and make payments via QR codes using UPI or Rupay credit cards.
MobiKwik intends to use the net proceeds from the IPO for various purposes, including funding the growth of its financial services and payment services businesses. Additionally, the funds will be allocated towards investment in data, machine learning (ML), artificial intelligence (AI), product development and technology, as well as capital expenditure for its payment devices business and general corporate purposes.
MobiKwik reported a profit of ₹14.1 crore for the fiscal year 2024, a turnaround from the loss of ₹83.8 crore in FY 2023. Its revenue from operations increased to ₹875 crore in FY24, from ₹540 crore in the previous fiscal. The financial results were driven by EBITDA profit of ₹37.2 crore, a recovery from the EBITDA loss of ₹55.9 crore in FY23.
The promoters of the company include Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust and Narinder Singh Family Trust.
Prior to the issue, the promoters held 32.96% of the company’s shares, which will decrease to 25.18% following the issue.
Share Holding Pre Issue | 32.96% |
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Share Holding Post Issue | 25.18% |
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