December 11, 2024
New Delhi, India
One Mobikwik Systems IPO
The initial public offering (IPO) of One Mobikwik Systems, the parent company of MobiKwik, began today, December 11, 2024, with shares priced between ₹265 and ₹279 apiece. Investors can bid for a minimum of 53 equity shares per lot. The subscription window closes on December 13.
IPO Details
- Issue Size: Fresh equity shares worth ₹572 crore, with no offer-for-sale component.
- Price Band: ₹265-₹279 per share.
- Lot Size: Minimum investment of ₹14,787 for 53 shares.
- Allocation:
- 75% reserved for Qualified Institutional Buyers (QIBs).
- 15% for Non-Institutional Investors (NIIs).
- 10% for Retail Investors.
Use of Proceeds
MobiKwik plans to utilize the funds as follows:
- ₹150 crore for financial services growth.
- ₹107 crore for AI, ML, and tech development.
- ₹135 crore for payment services expansion.
- ₹70.2 crore for capital expenditure on payment devices.
Company Overview
Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik is a leading fintech firm offering digital wallets, UPI payments, and financial products. As of June 2024:
- Registered Users: 16.10 crore.
- Merchants: 0.43 crore, operating both online and offline.
- Revenue: ₹345.83 crore (Q1 FY25).
- Loss: ₹6.62 crore (Q1 FY25).
Key Highlights
- MobiKwik’s anchor book raised ₹257.4 crore from investors like Morgan Stanley, SBI Mutual Fund, and Whiteoak Capital.
- Competitors include Paytm, PhonePe, and Freecharge.
- Shares will list on BSE and NSE on December 18, with allotments expected by December 16.
MobiKwik’s IPO aims to propel its growth across payment and financial services while strengthening technological capabilities. Investors have until December 13 to participate.
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