Mobikwik IPO to Open on December 11: Key Details Investors Should Know
Mobikwik IPO: The much-anticipated initial public offering (IPO) of fintech giant One Mobikwik Systems is set to open for public subscription this week. The Mobikwik IPO, a mainboard listing, will coincide with two other offerings — Vishal Mega Mart IPO and Sai Life Sciences IPO — launching on the same day.
The Mobikwik IPO will kick off on Wednesday, December 11, and close on Friday, December 13. The IPO allotment is scheduled for December 16, with the listing expected on December 18. Mobikwik shares will be listed on both the BSE and NSE stock exchanges.
The price band for the Mobikwik IPO is set between ₹265 and ₹279 per share, with a lot size of 53 shares. At the upper end of the price range, Mobikwik plans to raise ₹572 crore through a fresh issue of 2.05 crore equity shares.
The funds raised will be used to fuel growth in Mobikwik’s financial services and payment services sectors, invest in technology advancements like data, machine learning, and artificial intelligence, and support capital expenditures for payment devices and general corporate needs.
SBI Capital Markets and Dam Capital Advisors Ltd are the book running lead managers, while Link Intime India is handling the registrar duties for the IPO.
As the offering approaches, the grey market for Mobikwik shares remains bullish. Experts report a grey market premium (GMP) of ₹112 per share, indicating that shares are trading at ₹391, a 40% premium over the IPO price of ₹279. However, investors are advised that the grey market premium is only a speculative indication and should not be the sole basis for investment decisions.
