The MobiKwik IPO, which has been highly awaited all across India and other global investors, was A company of One Mobikwik Systems Limited., the IPO was set to raise money to develop grounds in payments on digital infrastructure and which would increase its market practice print. The following is a complete and thorough update on allotment status, process, and its related implications which would facilitate complete understanding of the happening. Background of MobiKwik IPO. MobiKwik, one of the top fin tech in India, declared the price band of its IPO almost INR 320 to INR 350 for every piece of it. The subscription date range FM was 11th December and Close date until 13th of December 2024. There was a great response from both retail and non-retail investors. The IPO floated shares worth of INR 1900 crore in the fraction infusion and OfS.
Subscription Details
Persistent demand for the MobiKwik IPO across all categories resulted in the following outcome:
Retail Investors: With a demand exceeding 12.5 times, small investors showed a strong inclination towards the IPO.
Qualified Institutional Buyers :With an overall subscription of nearly 15.8 times, the QIBs showed their confidence in the business and future prospects of Mobikwik.
Non-Institutional Investors : The oversubscription rate in this category was 11.2 times, the high-net-worth individuals responded overwhelmingly.
Employee Quota: The employees also actively invested in the IPO, and the demand in this category closely matched the expected level.
As a result, the IPO subscription rate was around 13.4 times, displaying a bullish sentiment from the stakeholders. The next section outlines the allotment process and guides on how to verify the status.
1. Why Such High Demand?
The Indian Digital Payments Sector is Booming: accelerated by government projects, an increase in smartphone penetration, and the general acceptance of fintech solutions, the digital payments industry is rapidly expanding its market share in India. Mobikwik Unleashing Its full Potential: A dominant player in the digital wallets sector and BNPL services, Mobikwik has significant potential to capitalize on numerous market opportunities. Increased Growth: In FY24, the company grew the profitable revenues by 65% YoY and plans to achieve more in terms of EBITDA profitability going forward.
2. Grey Market Premium (GMP)
The GMP for Mobikwik shares stood at INR 78-85 on the allotment date, indicating robust listing expectations. Analysts predict a listing price of around INR 430-440 per share, delivering significant gains for investors.
3. Long-Term Prospects
While short-term listing gains attract retail investors, institutional players focus on Mobikwik’s ability to sustain growth, diversify offerings, and navigate competitive pressures from players like Paytm and PhonePe.
Key Dates and Timeline
The dates for the IPO issue are as follows: Opening Date: December 11; Closing Date: December 13; Allotment Finalization: December 16; Refunds: December 17; Credit to Demit accounts: December 17, and Listing Date: December 18, 2024. How it works: Checking Your Allotment Status At Your level-Retail: Use Registrar’s website or BSE for best in class status update Cross verify the PAN and Application number input as for high-frequency errors. At Your level-Institutional: Approach Allocated broker/Finance institute who lodged the application in your favor. Note: if allotment detail not visible, check after 24 hours as the update might take for the same. Other concerns: Valuation concerns; according to few analysts, the IPO is at premium valuations which might suppress the organization’s performance data. Market uncertainty; uncertainty in the global economic would result for Mobikwik share. Regulatory requirements; Fintech norms are abide by respective government which might affect the profitability and sustenance.
Final Thoughts
The Mobikwik IPO is an exciting opportunity for investors as it reflects the immense confidence in India’s growing digital ecosystem. Despite finalization of the allotment, the true test remains the stock’s performance in the market post allotment. Stay updated on market conditions and company information as an investor to make informed decisions. For the latest developments, visit reliable IPO portals including IPO Reporter or IPO Dekho.
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