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One Mobikwik Systems IPO
One Mobikwik Systems Ltd
₹14,045 /53 sharesMinimum Investment
One Mobikwik Systems IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹279.00 | ₹440.00 | ₹161.00 (57.71%) |
One Mobikwik Systems IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 11 Dec ‘24 - 13 Dec ‘24 | ₹14,045 | 53 | ₹265 - ₹279 |
| Issue Size | IPO Doc |
|---|---|
| 572.00Cr | RHP PDF |
Subscription rate
As of 13 Dec'24, 04:00 PM
| Qualified Institutional Buyers | 35.34x |
| Non-Institutional Investor | 88.19x |
| Retail Individual Investor | 113.42x |
| Total | 63.95x |
About One Mobikwik Systems
Founded in
2008
Managing director
Mr. Bipin Preet Singh
Parent organisation
One Mobikwik Systems Ltd
Strengths & Financials of One Mobikwik Systems
Strengths
Risks
For MobiKwik, the number of registered users has grown at a compound annual growth rate (CAGR) of 12.31% from 123.56 million on 31 March 2022 to 155.84 million on 31 March 2024. As of June 30 June 2024, the company had 161.03 million registered users.
Evolving from a payments-focused business, MobiKwik claims it has transformed into a multi-product platform offering financial services. By consolidating and analysing consumer financial data through advanced analytics and machine learning, the company provides personalised financial solutions tailored to individual behaviour, capabilities, and aspirations.
MobiKwik, in partnership with SBM Bank India, offers a fixed deposit-backed credit card. This product is designed to help individuals with little or no credit history build their credit scores.
The company has collaborated with several leading lending partners, including Unity Small Finance Bank, TVS Credit Services, Hero Fincorp, Poonawalla Fincorp, SMFG India Credit (formerly Fullerton India), Suryoday Small Finance Bank, Northern Arc Capital, MyShubhLife, Krazybee Services, Vivriti Capital, and Transactree Technologies.
By June 30, 2024, MobiKwik had over 70.88 million KYC-completed users on its platform, acquired primarily through the MobiKwik Wallet.
The number of unique merchants where MobiKwik ZIP users transacted increased from 20,671 as of March 31, 2022, to 32,898 as of March 31, 2024.
MobiKwik leverages the account aggregator technology to offer a personal financial management product. By consolidating financial data into a single platform, the tool—powered by analytics and machine learning—helps consumers better understand and manage their finances, promoting financial wellness through personalised solutions.
The company has seen a consistent increase in revenue from operations. Revenue from operations increased from Rs 526.56 crore in FY22 to Rs 539.47 crore in FY23 to Rs 875.00 crore in FY24.
The industry in which MobiKwik operates is susceptible to cyber risks. Any security breaches, cyberattacks, or failure to protect personal, confidential, or proprietary information could harm MobiKwik's reputation, negatively impacting its business operations.
The company’s performance depends on retaining and expanding its network of consumers, merchants, and lending partners. A decline in the number of registered users or revenue from its digital payments and financial services businesses could hit its operations and finances.
MobiKwik's ability to distribute financial products relies heavily on partnerships with lending institutions. In FY24, revenue generated by financial services stood at Rs 557.88 crore and Rs 170.73 crore in the three months ending June 30, 2024, reflecting dependency on these collaborations. Any failure to maintain these partnerships could adversely impact the company’s financial services business.
The company has incurred significant losses of Rs 128.16 crore in FY22 and Rs 83.81 crore in FY23. A repeat of this in the future could be bad for the company’s financial and reputational standing.
MobiKwik relies on Zaakpay for critical operations in its payments and financial services businesses, including MobiKwik ZIP and ZIP EMI. Any disruption in Zaakpay’s services could harm the platform’s functionality, adversely affecting MobiKwik’s brand, reputation, and financial results.
A significant portion of MobiKwik's financial services revenue is tied to its MobiKwik ZIP and ZIP EMI products. Any downturn in these offerings, or failure to develop new financial products, could hit the company’s revenue and operational performance.
MobiKwik and its subsidiary, Zaak ePayment Services Private Limited, are involved in certain legal proceedings. Any adverse judgments in any of these cases could be detrimental to its business prospects.
As of June 30, 2024, MobiKwik had an outstanding debt of Rs 206.34 crore. Any inability to repay or service these loans could adversely affect the company’s financial position.
One Mobikwik Systems Financials
*All values are in Rs. Cr
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Application Details of One Mobikwik Systems IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹265 - 279 | ₹2 Lakh |
| High Networth Individual | ₹265 - 279 | ₹2 - 5 Lakh |
For One Mobikwik Systems IPO, eligible investors can apply as Regular.