MobiKwik IPO: ₹572 crore issue opens on Dec 11; check price band, lot size and key details

2 min read | Updated on December 06, 2024, 09:42 IST

SUMMARY

MobiKwik IPO: The ₹572 crore initial public offering of One MobiKwik Systems (MobiKwik) will open for subscription on December 11 and conclude on December 13.

An investor can bid for at least one lot size of Mobikwik IPO, consisting of 53 shares, worth ₹14,787.

MobiKwik IPO: The ₹572 crore initial public offering of One Mobikwik Systems (MobiKwik) will open for subscription on December 11 and conclude on December 13.

The price band has been fixed at ₹265-₹279 per share. The bidding for anchor investors will be open for a day on December 10.

The initial share sale is completely a fresh issue of shares valued at ₹572 crore. There is no offer-for-sale component.

The money raised will be used to fund growth in the financial services and payment services businesses. It will also be used for investment in machine learning (ML), artificial intelligence, data, products, and technology, as well as capital expenditures for the payment devices business, apart from general corporate purposes.

MobiKwik IPO: Lot size

An investor can bid for at least one lot size, consisting of 53 shares, worth ₹14,787.

The company has set aside 75% of the issue size for qualified institutional buyers (QIBs), 15% for non-institutional investors and the remaining 10% for retail shareholders.

MobiKwik IPO: Allotment and listing date

Subscription period: December 11 to December 13
Allotment finalisation: December 16
Refunds: December 17
Credit of equity shares to Demat AC: December 17
Listing on the NSE and the BSE: December 18

MobiKwik IPO: About the company

Founded by Bipin Preet Singh and Upasana Taku, MobiKwik is a platform business at its core with a two-sided payment network consisting of consumers and merchants. The firm has acquired 161.03 million registered users and enabled 4.26 million merchants to make online and offline payments.

The MobiKwik app, which is available on App Store and Google Play Store, offers, investment, insurance and digital credit products.

MobiKwik IPO: Financials

The company had posted a revenue of ₹875 crore in the financial year 2023-24 (FY24), up 62.19% from ₹539.46 crore in FY23. Net profit stood at ₹14.08 crore in FY24 vs ₹83.81 crore net loss in previous year.

DAM Capital Advisors and SBI Capital Markets are the issue's book-running lead managers, while Link Intime India is the registrar.

To learn more about IPO listings, schedules, and upcoming IPOs, visit our page.

About The Author

Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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MobiKwik IPO: ₹572 crore issue opens on Dec 11; check price band, lot size and key details

MobiKwik IPO: Lot size

MobiKwik IPO: Allotment and listing date

MobiKwik IPO: About the company

MobiKwik IPO: Financials

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