MobiKwik IPO Opens Today; All You Need to Know

The initial public offering (IPO) of fintech company One MobiKwik Systems opened today, December 11 and will be available for subscription till December 13. The price band of Mobikwik IPO has been fixed between ₹265 to ₹279 apiece with a lot size of 53 shares. The company plans to raise ₹572 crore by issuing 2.05 crore equity shares. As this is a fresh issue, the proceeds from the IPO will be utilised for upgrading financial services, funding growth in the payment services, investments in AI, meeting capital expenditure and general corporate purposes. Ahead of its IPO, the company raised ₹257 crore from anchor investors.

Subscription status

The IPO has received a strong response from investors by being fully subscribed by 1.82 times. While retail investors subscribed the shares by 7.69 times, the lot in Non Institutional Investors (NII) stood at 1.55 times.

Outlook on Financials

During Q1FY25, the company reported a loss of ₹6.62 crore with a revenue of Rs 345.83 crore. About 75% of the issue has been apportioned for the qualified institutional bidders (QIBs), while portions for non-institutional investors (NIIs) and retail investors have been reserved up to 15% and 10% respectively.

About the company

Founded in 2009, MobiKwik offers a range of payment services, while also enabling customers to make payments online.