MobiKwik IPO Day 2: Issue gets bids worth nearly ₹7,000 crore; Retail portion booked 65x – CNBC TV18

The initial public offering (IPO) of One MobiKwik Systems Ltd, the parent company of the online payments platform MobiKwik, continued to see a strong demand across investor categories on the second day of bidding on Thursday, December 12.

The mainboard issue is open for subscription from December 11 to December 13.

The ₹572-crore book-building issue saw a strong demand on the first day of bidding on Wednesday. The issue was fully subscribed within an hour of its launch. By the end of the bidding on the second day, the issue was overall booked 20.37 times.

MobiKwik IPO subscription details

The IPO received bids for over 24.18 crore shares against the 1.18 crore shares on offer, leading to an overall subscription of 20.37 times on the second day of bidding till 7 PM, as per the NSE data. With this, the overall bids for the IPO are nearing the mark of ₹7,000 crore.

The retail portion was subscribed 65 times the number of shares on offer. Retail investors have placed bids for more than 13.9 crore shares against 21.58 lakh shares on offer for the category.

The Non-Institutional Investors (NIIs) booked their reserved portion 30 times. The NIIs applied for 9.71 crore shares against 32.37 lakh shares reserved for them. The Qualified Institutional Buyers (QIBs) booked 84% of the allocated 64.75 lakh shares with bids for 54.42 lakh shares.

MobiKwik IPO GMP

The MobiKwik IPO latest GMP stood at ₹150 per share, as per reports. The grey market premium (GMP) indicates a potential listing price of ₹429 apiece. This implies a possible listing gain of 54% over the upper end of the IPO price band.

However, investors should be cautious, as the GMP is speculative and not an official listing price of a stock.

MobiKwik IPO details

The mainboard IPO is entirely a fresh issue of 2.05 crore shares. The IPO price band has been fixed at ₹265-279 per share.

The retail investors can apply for at least a single lot size of 53 shares, amounting to a minimum investment of ₹14,835 per application.

MobiKwik IPO allotment status is expected to be finalised on December 16. The company will initiate refunds and transfer of shares to the Demat accounts on December 17.

The IPO listing has been scheduled for December 18. Shares of One MobiKwik Systems Ltd will be listed on the BSE and NSE.