Final Hours! Mobikwik IPO closes today: Subscription zooms 20x, GMP up 56%

Mobikwik IPO has garnered an overwhelming response from investors, with bids pouring in for 24,18,36,721 shares against the 1,18,71,696 shares on offer, resulting in an oversubscription of 20.37 times

Mobikwik IPO subscription status: The initial public offering (IPO) of One Mobikwik Systems, which opened for public subscription on Wednesday, December 11, 2024, is set to close today, Friday, December 13, 2024.

 

Mobikwik IPO has so far received an overwhelming response from investors, with bids for 24,18,36,721 shares against 1,18,71,696 shares on offer. This translates to an oversubscription of 20.37 times as of the end of Thursday, December 12, 2024, according to data available on the National Stock Exchange (NSE). Notably, the highest demand for the Mobikwik IPO came from Retail Individual Investors (RIIs), who subscribed to their reserved category 64.52 times. This was followed by Non-Institutional Investors (NIIs) at 30 times and Qualified Institutional Buyers (QIBs) at 0.84 times. 

 

Meanwhile, the unlisted shares of Mobikwik continue to command a strong premium in the grey market. On Friday, sources tracking unofficial market activities revealed that the company's shares were trading at Rs 435, reflecting a grey market premium (GMP) of Rs 156 or 55.91 per cent over the upper end of the IPO price band of Rs 279. 

The digital wallets and online payment services company has also succeeded in garnering reviews from several brokerages, including Bajaj Broking, Swastika Investmart, and Anand Rathi Research. READ MORE

 

The Rs 572-crore offering of Mobikwik, which comprises an entirely fresh issue of equity shares, is available at a price band of Rs 265-279 per share, with a minimum lot size of 53 shares. Investors can bid for a minimum of 53 shares and in multiples thereof. A retail investor would require a minimum of Rs 14,787 to bid for one lot (53 shares) and Rs 1,92,231 to bid for the maximum 13 lots (689 shares) of the public issue.

 

As the subscription window closes today, the basis of allotment for Mobikwik IPO shares is likely to be finalised on Monday, December 16, 2024. Successful allottees will receive the company’s shares in their demat accounts on Tuesday, December 17, 2024.

 

Mobikwik shares are scheduled to list on the BSE and NSE tentatively on Wednesday, December 18, 2024.

 

Incorporated in 2008, Mobikwik Systems is a fintech company operating in the digital financial services and payments space. Mobikwik offers a diverse range of services, including digital payments, credit facilities, and investment products.