One Mobikwik Systems IPO Day 1 Live Updates: Key Highlights, Subscription Status, and Insights
One MobiKwik Systems Ltd, the parent company of the Indian digital payments platform MobiKwik, launched its initial public offering (IPO) Today, December 11, 2024.
MobiKwik IPO Details
- The Mobikwik IPO is a book-built offering amounting to ₹572.00 crores, comprising entirely of a fresh issue of 2.05 crore shares.
- Mobikwik IPO price band is set at ₹265 to ₹279 per share.
- Mobikwik IPO opens for subscription Today, December 11, 2024 and closes on December 13, 2024.
- The allotment for the Mobikwik IPO is expected to be finalized on Monday, December 16, 2024.
- Mobikwik IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, December 18, 2024.
- For retail investors, the minimum application size is 53 shares per lot.
- For small non-institutional investors (sNII), the minimum investment size is 14 lots (742 shares).
- For large non-institutional investors (bNII), it is 68 lots (3,604 shares).
Investor Category Shares Offered
|
Investor Category |
(%) |
|
Anchor Investor |
45 |
|
QIB |
30 |
|
NII (HNI) |
15 |
|
Retail |
10 |
Utilization of IPO Proceeds
The company intends to utilize the Net Proceeds for various purposes, including supporting the growth of its financial services and payment services businesses, investing in data, machine learning, artificial intelligence, product development, and technology. Additionally, funds will be allocated for capital expenditure in the payment devices business and for general corporate purposes.
MobiKwik IPO Day 1 Subscription Status
(December 11, 2024, End of Day)
On the first day of bidding, the Mobikwik IPO saw a subscription level of 7.72 times the total shares offered.
- The Retail Investors segment demonstrated strong demand, with subscriptions reaching 28.23 times their allocation.
- Non-Institutional Investors (NIIs) subscribed to 9.45 times their allotted quota.
- However, the Qualified Institutional Buyers (QIBs) segment, despite their participation, recorded a subscription rate of 0.02 times.
One Mobikwik Systems Business Overview
Founded in March 2008, Mobikwik is a fintech company offering prepaid digital wallets and online payment services. The company provides a wide range of payment solutions, allowing consumers to pay utility bills such as mobile recharges, electricity, and credit card bills, as well as make purchases at both online and offline merchants, including retail stores and fuel stations. Additionally, Mobikwik enables money transfers to phone numbers, UPI IDs, or bank accounts, allows users to check bank balances, and facilitates payments through QR code scanning using UPI or Rupay credit cards.
Financial Highlights:
- One Mobikwik Systems Limited's revenue increased by 62% from Rs. 539 crore in FY23 to Rs. 875 crore in FY24.
- Profit after tax (PAT) rose by 117% between the financial year ending with March 31, 2024 and March 31, 2023 from Rs. -84 crore to Rs. 14 crore, respectively.
Key Ratios
|
Years |
FY24 |
|
ROE |
9.20% |
|
ROCE |
8.96% |
|
EBITDA Margin |
2.51% |
|
PAT Margin |
1.60% |