One MobiKwik IPO GMP

One MobiKwik IPO GMP: Latest Updates and Analysis 2024

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One MobiKwik IPO GMP: The initial public offering (IPO) of fintech company One Mobikwik Systems will open for public subscription this week.

One MobiKwik IPO GMP
One MobiKwik IPO GMP

One MobiKwik IPO GMP Key Points

One MobiKwik IPO GMP
  • The opening for One MobiKwik IPO GMP for bidding is on Wednesday,11 December, and the closing date is Friday,13 December.
  • The bidding for anchor person will open on Tuesday 10 December.
  • The IPO allotment is expected to be finalized on 16 December.
  • The One MobiKwik IPO GMP IPO listing date is likely 18 December Mobikwik shares will be listed on both the stock exchanges – BSE and NSE.

Price Band of One MobiKwik IPO GMP

price band has been fixed at ₹265 to ₹279 per share and the IPO lot size is 53 shares. At the upper end of the price band, the fintech company aims to raise ₹572 crore from the issue which is entirely a fresh issue of 2.05 crore equity shares.

  • SBI Capital Markets and Dam Capital Advisors Ltd are the book-running lead managers of the Mobikwik IPO, while Link Intime India is the IPO registrar.
  • One Mobikwik Systems has reserved 75 % of the net offer for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will get 15 % of the allocation. Retail investors will have only 10 % of reservations in the IPO.

One MobiKwik IPO GMP Trend

The trend for Mobikwik shares in the unlisted market remains bullish. According to stock market observers, Mobikwik IPO grey market premium (GMP) has remained in the positive zone.

Mobikwik IPO GMP today is ₹112 per share, stock market experts said. This indicates that in the grey market, Mobikwik shares are trading higher by ₹112 than their issue price of ₹279 per share.

Mobikwik IPO GMP indicates that One Mobikwik Systems shares are trading at ₹391 apiece in the grey market, a premium of 40% to the IPO price of ₹279 apiece.

The Company’s 2nd Attempt at the IPO

One MobiKwik IPO GMP

Gurugram-based fintake company’s 2nd attempt at the public issue, the first attempt in July 2021. Earlier, the Company shelved its IPO plans and withdraw its draft papers due to unfavorable market conditions.

In January, the Company filed for a Rs 700 crore IPO, later, it cut the size of the IPO to Rs.572 crore.
net proceeds from the issue shall be utilized towards funding growth in the financial services, funding growth in the payment services, investment in data, ML, AI, product and technology, capital expenditure for the payment devices business, and general corporate purposes.

About The Mobikwik Company

  • Mobikwik Incorporated in 2009.
  • Located in Gurugram.
  • It is a fintech company providing prepaid digital wallets and online payment services.
  • The company provides a range of payment services, enabling consumers to pay utility bills, make payments for online and offline purchases, transfer money scan QR codes, and make payments using UPI or Rupay credit cards.

Mobikwik has created innovative products such as MobiKwik ZIP, ZIP EMI for consumers, and merchant cash advances for merchants through in-house models and strategic partnerships with lending partners. Its offerings utilize digital public infrastructure (DPI) such as Aadhaar, E-Nach, Digi-Locker, and NSDL to provide seamless and digital-first experiences for users.

For the three months ended on June 30, 2024, the company reported a loss of Rs 6.62 crore with a revenue of Rs 345.83 crore. The company clocked a bottom line of Rs 14.08 crore with a revenue of Rs 890.32 crore for the financial year ended 2023-24. The company shall command a total market capitalization close to Rs 2,300 crore.

For the 3 months ended on June 30, 2024, the company reported a loss of Rs 6.62 crore with a revenue of Rs 345.83 crore. The company clocked a bottom line of Rs 14.08 crore with a revenue of Rs 890.32 crore for the financial year ended 2023-24. The company shall command a total market capitalization close to Rs 2,300 crore.

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