Mobikwik Shares Debut With 58% Premium On BSE, NSE; Check Details Here

The Mobikwik IPO consisted of a fresh issue of 20,501,792 shares, raising up to Rs 572 crore. The shares were offered within a price band of Rs 265-279 per share, with a minimum lot size of 53 shares

The IPO saw overwhelming demand, with subscriptions exceeding the offer by an impressive 119.38 times by the end of the subscription period on Friday

Source : Twitter

Shares of One Mobikwik Systems made an impressive debut on the stock market on Wednesday, December 18, 2024. The stock listed at Rs 442.25 on the BSE, marking a 58.51 per cent premium over the IPO allotment price of Rs 279. Meanwhile, on the NSE, Mobikwik shares opened at Rs 440, reflecting a slightly lower premium of 57.70 per cent compared to the issue price. 

This substantial listing allowed investors who received shares during the IPO to earn a profit of approximately Rs 163.25 per share.

The IPO's listing performance matched expectations in the grey market. Prior to the listing, Mobikwik’s unlisted shares were trading at Rs 439 each, showing a grey market premium (GMP) of Rs 160 or 57.35 per cent over the issue price of Rs 279, according to a Business Standard report citing sources tracking grey market activity.

The Mobikwik IPO consisted of a fresh issue of 20,501,792 shares, raising up to Rs 572 crore. The shares were offered within a price band of Rs 265-279 per share, with a minimum lot size of 53 shares.

Currently, MobiKwik shares are trading 17.93 per cent up on the NSE, reaching Rs 518.90. The stock climbed 16.86 per cent on the BSE, trading at Rs 516.80.

Meanwhile, the IPO saw overwhelming demand, with subscriptions exceeding the offer by an impressive 119.38 times by the end of the subscription period on Friday, December 13, 2024. Subsequently, the basis of allotment for Mobikwik IPO shares was finalised on Monday.

According to its Red Herring Prospectus (RHP), Mobikwik plans to use the net proceeds from the IPO to fuel growth in its financial services and payment services businesses. The funds will also support investments in data, machine learning (ML), artificial intelligence (AI), product development, and technology. Additionally, the company intends to allocate a portion of the IPO proceeds for capital expenditure in its payment devices business and general corporate purposes.

Mobikwik is a fintech company that provides online payment services and prepaid digital wallets. It offers a range of payment solutions, enabling customers to pay utility bills, including credit card payments and mobile recharges, and shop from online and offline retailers.