Mobikwik IPO Fully Subscribed On First Day Of Issue

Mobikwik IPO Fully Subscribed On First Day Of Issue.

Expert Analysis:

• IPO Subscription Success: One MobiKwik Systems’ Rs 572 crore IPO was fully subscribed within the first hour, receiving 2,16,17,852 bids against 1,18,71,696 shares offered.

• Investor Categories Performance: Retail investors oversubscribed at 7.69 times; non-institutional investors subscribed 1.55 times.

• IPO Details: The IPO is open from December 11-13 with a price band of Rs 265-279 per share.

• Fund Utilization: Entirely fresh equity proceeds will fund growth in financial services, AI advancements, and payment device capital expenditure.

• Competitive Landscape: Competes with PhonePe, Paytm, Airtel Payments Bank, and Freecharge in the digital financial services space.

• Strong Financial Growth: MobiKwik’s consolidated total income rose to Rs 890.3 crore in FY24, up from Rs 561.6 crore in FY23 and Rs 543.2 crore in FY22. The company transitioned from losses of Rs 128.16 crore in FY22 and Rs 83.8 crore in FY23 to a profit of Rs 14.08 crore in FY24.