MobiKwik IPO: Fintech major raises ₹257 crore from anchor investors ahead of subscription

MobiKwik IPO: A MobiKwik Systems Ltd raised approx Further Rs 257 crore from anchor investors IPO subscription It is being opened for bidding tomorrow. fintech leader Initial Public Offering (IPO) It is all set to hit the primary market for its three-day subscription period, which will open on Wednesday, December 11, 2024 and close on Friday, November 13, 2024.

Mobikwik Limited 92.26 lakh equity shares allotted to 21 funds 279 each in the anchor round, the upper end of the price band. This translates into transaction size 257.4 crores. According to BSE, foreign and domestic institutions participating in the anchor round include Government Pension Fund (Norges Fund), Eastspring Investments, Morgan Stanley Investments, White Oak Capital, 360 One Asset & Wealth Management, HDFC Mutual Fund (MF), Axis Were. MF, SBI MF, and SBI General Insurance.

Also read: 3 mainboard IPOs to open tomorrow: All you need to know about Mobikwik, Sai Life, Vishal Mega Mart public issues

MobiKwik IPO Details

MobiKwik Systems ready to scale up Rs 572 crore through its IPO, which will consist of a completely fresh issue of shares without an offer-for-sale (OFS) component. The price band of the issue has been fixed from 265 Rs 279 per equity share at face value 2. the IPO lot size is 53 equity shares and multiples of 53 equity shares After that.

The issues will close for bidding on December 13, 2024. The allotment for the MobiKwik IPO is expected to be finalized on Monday, December 16, 2024. Post IPO, MobiKwik shares will be listed on BSE, NSE with provisional listing. The date has been set for Wednesday, December 18, 2024.

A MobiKwik IPO reserves at least 75 per cent of the shares in the public issue for qualified institutional buyers (QIBs), not more than 15 per cent for non-institutional investors and not more than 10 per cent of the shares in the public issue. This offer is reserved for retail investors.

Also read: One MobiKwik Systems IPO: Price band determined 265-279 per share; Check key dates, issue sizes, and more

The book-running lead managers (BRLMs) of the MobiKwik IPO are SBI Capital Markets Limited and Dam Capital Advisors Limited (formerly IDFC Securities Limited). The registrar to the public issue is Link Intime India Private Limited. The company’s shares are available at a premium. Rs 132 in gray market today.

MobiKwik Company Details

Founded in March 2008, MobiKwik is a fintech company that provides prepaid digital wallets and online payment services. These services enable consumers to pay utility bills such as mobile recharge, electricity and credit card bills. Bipin Preet Singh, Upasana Roopkrishna Taku, Koshur Family Trust and Narinder Singh Family Trust are the promoters of the company.

company Serves as a platform business with a strong two-way payment network Which connects consumers and merchants effectively. By June 30, 2024, we are proud to have achieved 161.03 million registered users and facilitated online and offline payments to 4.26 million merchants.

Also read: MobiKwik IPO GMP rises ahead of issue opening next week; Check Date, Price Band, Other Key Details

MobiKwik reports profit 14.08 crore for FY24. There has been a significant increase in the consolidated total income of the company 890.3 crore, which shows a strong growth 561.6 crore more in FY23 543.2 crore in FY22. The company faced challenges with losses in the last two financial years 128.16 crore more in FY22 83.8 crore in FY23.

MobiKwik is committed to investing in data, machine learning (ML) and artificial intelligence (AI) to further improve its product and technology offerings. Additionally, funds will be directed toward capital expenditures for payments instruments and general corporate purposes, positioning the company for significant advancements in the competitive payments landscape.