MobiKwik IPO subscribed 7.32 times on day 1 of issue, retail investors dominate with highest bids; Latest GMP here | Stock Market News
MobiKwik IPO: The mainboard initial public offering (IPO) of One Mobikwik Systems Limited received an overwhelming response from investors on the first day of subscription. The ₹572-crore worth public issue of the fintech major was overbought as it hit India’s primary market on December 11, 2024, to open for its three-day subscription period. The issue will close on Friday.
One Mobikwik System Ltd has reserved not less than 75 per cent of the equity shares in the public issue for the qualified institutional buyers (QIB), not more than 15 per cent for non-institutional institutional investors (NII), and not more than 10 per cent of the offer for the retail investors.
MobiKwik IPO Subscription Status
On the third day of subscription, MobiKwik IPO was subscribed 7.32 times by the end of the session. The portion reserved for retail investors was subscribed 26.7 times, the portion reserved for QIBs was booked 0.02 per cent, and the portion reserved for NIIs was booked 8.98 times on the first day. According to BSE data, the IPO received 8,69,30,070 share applications against 1,18,71,696 shares offered on Wednesday.
MobiKwik IPO Details
MobiKwik Systems is poised to raise ₹572 crore through its IPO, which will consist entirely of a fresh issue of shares without an offer-for-sale (OFS) component. The price band of the issue has been fixed at ₹265 to ₹279 per equity share with a face value of ₹2. The IPO lot size is 53 equity shares and multiples of 53 equity shares thereafter.
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. After the IPO, shares of Mobikwik will be listed on BSE, NSE, with a tentative listing date fixed as Wednesday, December 18, 2024.
MobiKwik IPO’s book-running lead managers (BRLM) are SBI Capital Markets Limited and Dam Capital Advisors Ltd (formerly IDFC Securities Ltd). The public issue’s registrar is Link Intime India Private Ltd. Shares of the company are available at a premium of ₹132 in the grey market today.
