MobiKwik, a leading Indian fintech company, recently concluded its Initial Public Offering (IPO) with extraordinary success. The IPO, which opened on December 11, 2024, and closed on December 13, 2024, garnered immense interest from retail and institutional investors alike. Below are the key highlights of the IPO:
Key Details:
- Issue Size: The company aimed to raise ₹572 crore through a fresh issue of approximately 2.05 crore equity shares.
- Price Band: The price range for the shares was set between ₹265 and ₹279 per share.
Overwhelming Subscription:
MobiKwik’s IPO was oversubscribed by approximately 120 times, with bids placed for about 1.4 billion shares against the 11.9 million shares on offer. This enthusiastic response highlighted the strong market sentiment and growing investor confidence in fintech companies.
- Retail Investors: The retail segment was oversubscribed by 135 times, demonstrating a robust interest from individual investors.
- Institutional Buyers: Institutional investors placed bids approximately 120 times their allotted shares.
Anchor Investor Participation:
Prior to the public offering, MobiKwik raised ₹257.40 crore from anchor investors on December 10, 2024, adding further credibility and excitement to the IPO.
Allotment and Listing:
- Allotment Date: The finalization of allotment was expected by December 16, 2024.
- Listing Date: The shares are anticipated to commence trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 18, 2024.
Financial Highlights:
MobiKwik’s financial performance has been impressive, further boosting investor confidence. For the fiscal year 2023-2024, the company reported a consolidated revenue of ₹875 crore, marking a 62% year-on-year increase. Additionally, the company achieved a net profit of ₹14 crore, reversing a loss of ₹84 crore in FY23.
How to Check Allotment Status:
Investors who subscribed to the IPO can check their allotment status through the official registrar, Link Intime India Pvt Ltd, or via the NSE and BSE websites. This ensures transparency and convenience for all investors.
Positive Market Outlook:
Given the strong subscription numbers and positive market sentiment, analysts anticipate significant listing gains for MobiKwik’s stock. The oversubscription demonstrates the trust and optimism surrounding the company’s future in the fintech sector.
MobiKwik’s successful IPO marks a milestone in its journey, paving the way for growth and expansion in India’s burgeoning digital economy.
