MobiKwik shares to be listed on NSE, BSE on December 18: Check key details ahead of market debut

MobiKwik IPO listing date: Shares of One MobiKwik Systems, the parent firm of online payments platform MobiKwik, are set to debut on the National Stock Exchange (NSE) and BSE on Wednesday, December 18.

The mainboard issue, worth ₹572 crore, was entirely a fresh issuance of 2.05 crore shares.

During the subscription period, the IPO received an overwhelming response across investor categories. The IPO was subscribed 119.38 times during the three-day subscription that ended on December 13.

Ahead of the listing, here are the key details about the mainboard issue:

MobiKwik IPO subscription and price band

MobiKwik IPO was subscribed 134.67 times in the retail category, with bids for 29.07 crore shares compared to the 21.58 lakh shares offered.

The qualified institutional buyers (QIBs) booked their segment 119.5 times, placing bids for 77.38 crore shares against the 64.75 lakh shares set aside for them. The non-institutional investors (NIIs) bid for 35.28 crore shares compared to the 32.37 lakh shares on offer, leading to a subscription of 108.95 times in the category.

Before the IPO, the promoters held a 32.96% stake in the company, which will be diluted to 25.18% after the IPO.

The price band for the MobiKwik IPO was set between ₹265 and ₹279 per share. The book-running lead managers for the issue are SBI Capital Markets Limited and Dam Capital Advisors Ltd (formerly known as IDFC Securities Ltd). Link Intime India Pvt. Ltd is the registrar for the IPO.

MobiKwik IPO objective

MobiKwik plans to use the net proceeds to support the expansion of its financial services and payment solutions sectors. The funds will also be used for investments in data, machine learning (ML), artificial intelligence (AI), product development, technology upgrades and capital expenditure for its payment devices business, as well as general corporate needs.

MobiKwik IPO listing date and time

Shares of One MobiKwik Systems (MobiKwik) will be listed on the NSE and the BSE on Wednesday, December 18 at 10 am.

One MobiKwik Systems financials

MobiKwik posted a profit of ₹14.1 crore for the fiscal 2024, a much better performance compared to the previous financial year’s loss of ₹83.8 crore. The company saw a significant rise in its revenue from operations, reaching ₹875 crore in FY24, up from ₹540 crore in the previous fiscal. This better financial performance was largely supported by an EBITDA profit of ₹37.2 crore, a recovery from the EBITDA loss of ₹55.9 crore in FY23.

About MobiKwik

MobiKwik is a fintech platform that provides prepaid digital wallets and online payment solutions. Founded in March 2008, the company lets users pay utility bills, shop at both online and physical stores, transfer funds, check bank balances and make payments using QR codes with UPI or Rupay credit cards.