MobiKwik IPO: 10 key points you need to know ahead of ₹572 crore public offer opening

Mobikwik IPO: Peak XV and ADIA-backed One MobiKwik Systems' ₹572 crore initial share sale will be open for public subscription on Wednesday, December 11. The shares of the financial technology company will be listed on the NSE and the BSE on December 18.

MobiKwik IPO: 10 key things to know

• MobiKwik IPO subscription period: The issue will be live for subscription from December 11 to December 13.
• IPO offer structure: It is an entirely new offering of equity shares worth ₹572 crore without any offer-for-sale component.
• MobiKwik IPO price band: The price range has been set at ₹265 to ₹279 per share.
• Reservation: The company has set aside 75% of the net issue for qualified institutional buyers (QIBs), 10% for retail individual investors (RIIs) and 15% for non-institutional investors (NIIs).
• Issue type: Book built issue IPO
• MobiKwik IPO lot size: Investors can apply for at least one lot size worth ₹14,787, consisting of 53 shares.
• Objective: The proceeds to the tune of ₹150 crore will be utilised for organic growth in the company's financial services business, ₹107 crore for research and development in artificial intelligence, machine learning and technology and ₹135 crore to expand payment services. The company will use ₹70.2 crore for capital expenditure on payment devices and serve general corporate purposes.
• Book-running lead manager and registrar: SBI Capital Markets and DAM Capital Advisors are the public offer's book-running lead managers, while Link Intime India is the registrar.
• Allotment date: The basis of allotment is likely to be finalised on December 16.
• Listing date: The listing on the BSE and the National Stock Exchange (NSE) will occur on December 18.

Founded by Bipin Preet Singh and Upasana Taku, MobiKwik offers consumers access to several payment options and financial products. Its competitors include Paytm, PhonePe, Freecharge, and Airtel Payments Bank.

As of June 2024, MobiKwik serves 16.10 crore registered users and 0.43 crore merchants across both online and offline channels. In FY24, registered users stood at 15.58 crore, out of which 4.73 crore users are active. Meanwhile, more than 80% of its users and merchants belong to tier 1 and tier 2 cities, while the rest are from tier 3 and beyond.