2 Lakh Crore IPOs Subscribe in a Day: MobiKwik 120x Subscribed

MobiKwik IPO Allotment Today: GMP Surges

MobiKwik IPO Allotment Date, Time: GMP Surges! Here’s How to Check Share Allocation Online Using PAN

2 Lakh Crore IPOs Subscribe in a Day: MobiKwik 120x Investors who participated in the ₹572 crore MobiKwik IPO are now eagerly awaiting the finalisation of share allotment. According to the company’s Red Herring Prospectus (RHP), the allotment process is scheduled for completion on or around Monday, December 16, 2024.

MobiKwik IPO Overview

2 Lakh Crore IPOs Subscribe in a Day: MobiKwik 120x The MobiKwik IPO, which opened for subscription on December 11, 2024, and concluded on December 13, 2024, received an overwhelming response, being oversubscribed more than 119 times. Retail investors led the way with subscriptions soaring 134.67 times, followed by non-institutional investors at 108.95 times, and qualified institutional buyers at 119.50 times.

Allotment Date and Refund Details

2 Lakh Crore IPOs Subscribe in a Day: MobiKwik 120xThe basis of allotment will be finalized on December 16, 2024, with the process usually being completed in the latter half of the day. Investors will receive notifications via SMS once allotment is confirmed. Refunds (if applicable) and share credits to demat accounts are expected to commence by Tuesday, December 17, 2024.

How to Check MobiKwik IPO Allotment Status

2 Lakh Crore IPOs Subscribe in a Day: MobiKwik 120x Investors can check their allotment status online using their PAN through the following methods:

1. BSE Website: Visit the BSE Allotment Status Page and follow the instructions.
2. Registrar’s Portal: Go to the official registrar’s website, Link Intime India, to access the allotment details.

MobiKwik IPO GMP Update

The Grey Market Premium (GMP) for MobiKwik shares is currently ranging between ₹150 and ₹165, suggesting a potential listing gain of up to 59%.

Expected Listing Price

Based on the GMP, MobiKwik shares are anticipated to debut on stock exchanges at around ₹429 (lower GMP range) to ₹444 (higher GMP range).

MobiKwik IPO Listing Date

The company’s shares are expected to be listed on the NSE and BSE on Wednesday, December 18, 2024.

MobiKwik IPO Live Updates: Final Day of Bidding on December 13, 2024

2 Lakh Crore IPOs Subscribe in a Day: MobiKwik 120x The Initial Public Offering (IPO) of fintech company One MobiKwik Systems entered its third and final day of bidding on December 13, 2024. Opening for subscription on December 11, 2024, the IPO, aiming to raise ₹572 crore, has already garnered significant demand, being oversubscribed within hours of launch. The price band for the IPO has been set between ₹265 to ₹279 per share.

Strong Grey Market Premium (GMP)

MobiKwik shares have seen their GMP surge to ₹158 per share, indicating a premium of 59.14% over the IPO price.

Key Updates on December 13, 2024

8:39 PM IST:
The MobiKwik IPO has been oversubscribed 119.38 times, receiving bids for 1,41,72,86,992 shares against the 1.18 crore shares on offer, as per BSE data.

• Retail Investor Portion: Subscribed 134.67 times
• Qualified Institutional Buyers (QIB): Subscribed 119.50 times
• Non-Institutional Investors (NII): Subscribed 108.95 times

6:57 PM IST:
As of June 30, 2024, MobiKwik had 161.03 million registered users and supported 4.26 million merchants with both online and offline payment solutions. The company has achieved rapid growth, marked by a low employee cost-to-revenue ratio in FY23, per a RedSeer report.

• Payment GMV: Grew at a CAGR of 45.88% between FY22 and FY24.
• MobiKwik ZIP GMV: Witnessed a remarkable annual growth rate of 112.16% during the same period.

5:50 PM IST:
By late afternoon, the IPO had been subscribed 119.38 times, with retail investors accounting for the highest interest (134.67 times).

4:54 PM IST:
The fintech company is targeting a market projected to grow from $5.3 billion (₹424 billion) in FY23 to $16-18 billion (₹1.3-1.4 trillion) by FY28.

• User Growth: Registered users grew at a CAGR of 12.31%, from 123.56 million in FY22 to 161.03 million as of June 30, 2024.
• Wealth Management AUA: Increased significantly, from ₹323.68 crore in FY22 to ₹6,692.85 crore by June 2024.

3:33 PM IST:
Analysts at Lemonn Markets Desk highlighted the IPO’s reasonable pricing with a P/BV of 10.06 (pre-IPO) and 2.97 (post-IPO) at the upper price band. The company’s robust growth strategy and innovation in fintech services make it a compelling investment opportunity.

2:41 PM IST:
Eureka Broking noted that MobiKwik’s IPO is attractively priced compared to Paytm, with a P/BV of 3 times and a Market Cap-to-Sales ratio of 2.4 times, versus Paytm’s 4.3 times and 7.5 times, respectively. The firm emphasized MobiKwik’s potential in the underpenetrated digital financial services market.

2:20 PM IST:
Midday data showed the IPO had been subscribed 56.77 times on NSE, with retail investors contributing significantly (110.09 times) alongside strong demand from QIBs and NIIs.

2 Lakh Crore IPOs Subscribe in a Day: MobiKwik 120x Three major IPOs that closed on Friday collectively drew investor interest worth approximately ₹2.2 lakh crore. The companies—Vishal Mega Mart, Sai Life Sciences, and One MobiKwik—had planned to raise a combined ₹11,615 crore, as per data from the stock exchanges.

Among these, One MobiKwik, a technology-driven payments platform, stood out with demand nearly 120 times its offer size, making it the most subscribed ₹500-crore-plus IPO of 2024. Retail investors played a significant role in driving the demand for MobiKwik’s offering.

The ₹8,000-crore IPO of Vishal Mega Mart also saw robust investor interest, with the issue subscribed 27 times and generating a total demand of about ₹1.6 lakh crore.

Meanwhile, Sai Life Sciences, which sought to raise ₹3,043 crore, witnessed a subscription of 10.3 times, with a total demand of ₹21,881 crore, according to exchange data.

This year has been a record-breaking one for IPO fundraising, with nearly ₹2 lakh crore mobilized so far. This surpasses the previous high of ₹1.2 lakh crore raised through 63 IPOs in 2021, as reported by Chittorgarh.