MobiKwik IPO opens today. Check key dates, price band, GMP, and review

The initial public offering (IPO) of the digital payments platform One MobiKwik Systems will open for public subscription today, and will close on December 13. The IPO is a book-built issue of Rs 572 crore, and offering includes a fresh issue of up to 2.05 crore equity shares.

The proceeds will be used for growth in financial and payment services, research and development in AI and machine learning, and expansion of payment device infrastructure.

MobiKwik IPO: Price band

The company has set a price band of Rs 265-279 per share for its IPO, where investors can bid for 53 shares in one lot.

MobiKwik IPO: GMP today

Ahead of the issue, the GMP for MobiKwik shares is around Rs 125-130, indicating a 45% premium over the issue price.

MobiKwik IPO: Review

Analysts advised high-risk investors to subscribe as the IPO is priced at a slightly higher valuation. The company has demonstrated consistent growth in revenue and recently turned profitable after prior losses.

“MobiKwik is a digital payment platform catering to both customers and merchants, operating in a highly competitive fintech landscape, which may impact future growth and market share. The IPO is priced at a high valuation. Suitable only for high-risk investors,” said Swastika Investmart.

About MobiKwik IPO

Founded in 2008, MobiKwik operates a dual-sided payments platform catering to over 161 million registered users and 4.26 million merchants as of June 2024. The company offers services spanning digital payments, credit, and investment products. It holds a 23.11% market share in the PPI wallet segment by gross transaction value as of May 2024, positioning it as India’s largest wallet player.

The company’s financials reflect improving efficiency, with a consolidated revenue of Rs 875 crore in FY24, marking a 62% growth over the previous year. MobiKwik posted a net profit of Rs 14 crore, reversing losses of Rs 84 crore in FY23.

MobiKwik IPO: Opening Date, Allotment and Listing Date

The MobiKwik IPO will open up for public subscription on December 11 with the issue closing on December 13. Meanwhile, bidding for the anchor investors’ segment is slated to begin on December 10.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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