One Mobikwik System’s IPO has received a great response on the very first day. Investors have subscribed by about 7.80 times. While the reserve quota kept for retail investors has been subscribed by about 29 times. Investors can place bets to invest in One Mobikwik till December 13. Let’s know how much has Mobikwik IPO GMP increased?
The IPO of fintech company Mobikwik continues to be a hit among investors. This IPO, which opened on December 11, received 21.67 times subscription in the first two days. By December 13, it was subscribed 119.38 times. It was subscribed 134.67 times by retail investors, 108.95 times by non-institutional investors and 119.50 times by qualified institutional investors. And important information related to the IPO.
What is Mobikwik?
Mobikwik was founded in the year 2008 and it works as a credit offering platform. This platform can also be used as a digital wallet. With the help of Mobikwik, you can make many types of online payments by adding money to your wallet or linking your bank account to it. This platform provides you facilities like sending and receiving money, mobile recharge, paying electricity and internet-DTH bills and online shopping.
Investors Rush to Grab Mobikwik IPO
The IPO of One Mobikwik System opened on 11 December. For which investors can bid till 13 December. As soon as the IPO opened, everyone from retail to big investors have shown strong interest in the IPO and have invested heavily. Fitech Company is trying to raise funds of about 572 crores through IPO. Whose price band has been fixed at around Rs 279 per share. Any investor can bid for at least 53 equity shares (1 lot = 53 stocks) or invest in multiples of 53 equity shares. For the IPO, the company has issued fresh issue shares worth ₹572 crores, that is, there is no Offer for Sale (OFS) component in it.
Mobikwik IPO GMP
The IPO of One Mobikwik System has shown a great response in the gray market. The GMP of the IPO has increased by about 48.75%. Which is running about Rs 136 ahead of its price band of 279. After this, the IPO is trading at around Rs 415 in the gray market. According to this, if the IPO gets listed, it will be listed with an expected 48.75% profit.
The company’s co-founder and CEO Bipin Preet Singh says that people’s interest in financial technology companies is increasing in India. Due to the rapid digitization policy, these companies are attracting the attention of investors. The number of companies related to financial technology will increase over time in the market. Many new players are going to enter this field. In view of all these conditions, more and more investment is being made in the IPO of Mobikwik System. Even if the company’s financial record is giving a slightly negative signal.
What Will The Company Do With The IPO Money?
One Mobikwik System has set a target of Rs 572 crore in the IPO. The promoters of the company are not ready to sell the shares. The company is going to use the proceeds from the new fresh issue to finance organic growth in the financial services business. In which about Rs 150 crore will be spent. Apart from this, about Rs 135 crore will be spent for organic growth in the payment service business, Rs 107 crore to strengthen research development, data, machine learning and AI related products and technology, while about Rs 70.28 crore will be spent to meet its payment equipment business and general corporate purposes.
Mobikwik IPO Listing Date: Overview
- The IPO of the company IP will be open from 11 to 13 December. Through which the company will raise funds of 572 crores.
- The stock price band has been kept at Rs 265 to Rs 279 per stock.
- The lot size of Mobikwik IPO is 53 stocks.
- The likely date of stock allotment is December 14. However, in case of delay, allotment will be done by December 16.
- After this, the company can get listing in the market on December 18. After which any common investor will be able to invest in it directly.
