The highly anticipated initial public offering (IPO) of One Mobikwik Systems Limited has garnered significant investor interest as it enters its final subscription day today, December 13, 2024. The IPO, which opened on December 11, has already seen robust demand across all categories.
Key Highlights of Mobikwik IPO Subscription
- Total Subscription: As of the third day, the IPO is subscribed over 44.79 times, showcasing strong investor confidence.
- Retail Investors Lead: The retail portion has been oversubscribed 102.19 times, reflecting overwhelming participation from individual investors.
- Non-Institutional Investors (NII): The NII category saw a subscription of 71.44 times, with small HNI bids at 66.47 times and large HNI bids at 81.39 times.
- Qualified Institutional Buyers (QIBs): QIBs bid 12.33 times the shares reserved for them, further underscoring the IPO’s appeal.
IPO Details
- Issue Size: ₹572 crore through a fresh issue of 2.05 crore equity shares.
- Price Band: ₹265-₹279 per share.
- Lot Size: Minimum investment requires a lot of 53 shares, amounting to ₹14,835 at the upper price band.
Grey Market Premium (GMP) Trends
The Grey Market Premium (GMP) remains strong at ₹158 per share, suggesting a potential listing price of ₹437—57% above the upper price band.
Expert View and Advice
Analysts at Swastika Investmart have advised that the IPO is suitable for high-risk investors. While Mobikwik has demonstrated consistent revenue growth and profitability, the competitive fintech market and high valuation pose risks.
Important Dates
- Allotment Finalization: December 16, 2024
- Refunds/Share Credits: December 18, 2024
- Listing on BSE & NSE: December 18, 2024
