rediff.com

MobiKwik IPO Oversubscribed 119.38 Times

Share on:

By Rediff Money Desk, New Delhi   Dec 13, 2024 19:03

One MobiKwik Systems'' IPO received a whopping 119.38 times subscription, with strong participation from retail, institutional, and non-institutional investors.
MobiKwik IPO Oversubscribed 119.38 Times
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Dec 13 (PTI) The initial public offer of fintech firm One MobiKwik Systems Ltd received a staggering 119.38 times subscription as the three-day share sale ended on Friday, amid an overwhelming participation from investors.

The Rs 572-crore initial share sale got bids for 1,41,72,65,686 shares against 1,18,71,696 shares on offer, as per NSE data.

The portion for Retail Individual Investors (RIIs) fetched 134.67 times subscription while Qualified Institutional Buyers (QIBs) part received 119.50 times subscription. The category for non-institutional investors got subscribed 108.95 times.

On Tuesday, One MobiKwik Systems said it garnered Rs 257 crore from anchor investors.

The company's IPO has a price band of Rs 265-279 per share.

The public issue is entirely a fresh issuance of equity shares worth up to Rs 572 crore with no offer-for-sale (OFS) component.

This was the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021. Earlier, the company shelved its IPO plans and withdrew the draft papers due to unfavourable market conditions.

Mobikwik has reduced its IPO size from its earlier plans of Rs 1,900 crore in 2021 to Rs 700 crore in January this year to Rs 572 crore now.

Founded by Bipin Preet Singh and Upasana Taku, MobiKwik -- the company's flagship application -- provides consumers access to various payment options and financial products in digital credit, investments and insurance.

SBI Capital Markets and DAM Capital Advisors Ltd are the book-running lead managers to the offer.

The shares of the company will be listed on the BSE and NSE.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

TODAY'S MOST TRADED COMPANIES

  • Company Name
  • Price
  • Volume

More »

Moneywiz Live!