Mobikwik shares are set to debut on the stock exchanges today, December 18, following the fintech company’s successful ₹572-crore IPO. The IPO of One Mobikwik Systems Limited saw an overwhelming response from investors, signaling a strong listing day.
Key Mobikwik IPO Details:
- IPO Subscription: December 11-13, 2024
- IPO Size: ₹572 crore (Fresh issue of 2.05 crore shares)
- Issue Price: ₹265-279 per share
- Allotment Finalization: December 16, 2024
- Listing Date: December 18, 2024
- Stock Exchanges: BSE and NSE
Strong Subscription Highlights:
Mobikwik IPO was oversubscribed 119.38 times in total:
- Retail Investors: 134.67 times
- Qualified Institutional Buyers (QIBs): 119.50 times
- Non-Institutional Investors (NIIs): 108.95 times
Expected Listing Price & GMP:
- Grey Market Premium (GMP): ₹160 per share
- Estimated Listing Price: ₹439 apiece, marking a 57.35% premium over the issue price of ₹279.
Analysts’ Expectations:
Analysts forecast a strong market debut for Mobikwik shares, citing significant investor enthusiasm and the company’s improving financials. Abhishek Pandya, Research Analyst at StoxBox, stated that the stock could list at a premium of 59%, given the high oversubscription levels and strong demand.
Financial Performance:
Mobikwik turned profitable at the EBITDA and PAT levels in FY24. Key growth metrics include:
- Payment GMV: Grew at an annual rate of 45.9% (FY22-FY24).
- Mobikwik ZIP GMV (Disbursements): Grew at an annual rate of 112.2% during the same period.
Expert Advice:
Given the substantial GMP and strong investor interest, analysts suggest investors book profits if the stock lists significantly above the issue price.
Lead Managers:
- SBI Capital Markets and Dam Capital Advisors Ltd are the book-running lead managers.
- Link Intime India Private Ltd is the registrar.
With Mobikwik’s IPO marking one of the most sought-after listings, investors eagerly anticipate a stellar performance on both BSE and NSE today.
