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PremiumMobikwik IPO Day 2 Highlights: The initial public offering (IPO) of fintech company One Mobikwik Systems hit Dalal Street today, December 11. The second day of the bidding process commences today, Mobikwik IPO got oversubscribed within hours of opening. Mobikwik IPO price band has been fixed at ₹265 to ₹279 per share and the IPO lot size is 53 shares. At the upper-end of the price band, the fintech company aims to raise ₹572 crore from the issue which is entirely a fresh issue of 2.05 crore equity shares. Stay tuned to our Mobikwik IPO Live blog for the latest updates:
On the second day of subscription, MobiKwik IPO was subscribed 20.41 times by the end of the session. The portion reserved for retail investors was subscribed 64.65 times, the portion reserved for QIBs was booked 84 per cent, and the portion reserved for NIIs was booked 30.07 times on the first day. According to BSE data, the IPO received 24,23,45,574 share applications against 1,18,71,696 shares offered on Thursday.
Mobikwik IPO Live: Mobikwik IPO has been subscribed 19.92 times so far. The public issue received bids for 23.65 crore equity shares as against 1.18 crore shares on the offer, according to NSE data at 4:15 PM on Thursday, the second day of the bidding process. The Retail investors portion was booked 63.80 times, while the Non Institutional Investors (NII) portion was subscribed 28.84 times so far. Qualified Institutional Buyers (QIBs) portion was booked 84%.
Mobikwik IPO Live: Mobikwik IPO has been subscribed 15.41 times so far. The public issue received bids for 18.28 crore equity shares as against 1.18 crore shares on the offer, according to NSE data at 3:00 PM on Thursday, the second day of the bidding process. The Retail investors portion was booked 52.42 times, while the Non Institutional Investors (NII) portion was subscribed 20.50 times so far. Qualified Institutional Buyers (QIBs) portion was booked 52%.
Mobikwik IPO Live: The mobile wallet payments industry was valued at $29 billion in FY24 and is expected to grow at a CAGR of 20%-25%, reaching $65-75 billion by FY28. Mobikwik is well-positioned to capitalize on this growth, supported by its strong active user base and extensive merchant network. The company delivered a revenue CAGR of 29% from FY22 to FY24 and became profitable at both the EBITDA and PAT levels in FY24, though it reported a loss in Q1FY25. Hence, we recommend “Subscribe" rating to the issue for listing gains, GEPL Capital said.
Mobikwik IPO Live: Mobikwik IPO has been subscribed 13.11 times so far. The public issue received bids for 15.56 crore equity shares as against 1.18 crore shares on the offer, according to NSE data at 2:00 PM on Thursday, the second day of the bidding process. The Retail investors portion was booked 44.85 times, while the Non Institutional Investors (NII) portion was subscribed 18.13 times so far. Qualified Institutional Buyers (QIBs) portion was booked 3%.
Mobikwik IPO Live: Mobikwik IPO GMP today, or grey market premium today, surged to ₹156 per share on December 12, the second day of the bidding process, according to stock market observers. This indicates that in the grey market, Mobikwik shares are trading at ₹435 apiece, a premium of 56% to the issue price of ₹279 per share.
Mobikwik IPO Live: Bipin Preet Singh is the Managing Director, Chief Executive Officer and Co-Founder of the Company.
Upasana Rupkrishan Taku is the Executive Director, Chairperson, Chief Financial Officer and Co-Founder of the Company.
Punita Kumar Sinha, Sayali Karanjkar, Navdeep Singh Suri and Raghu Ram Hiremagalur Venkatesh are Independent Directors of the company.
Vineet Bansal is a Non-Executive, Non-Independent Director, Nominee Director of the Company, nominated by the Founder Promoters of the Company.
Ankita Sharma is the Compliance Officer and Company Secretary of the Company.
Mobikwik IPO Live: Mobikwik is one of the largest digital financial product and services platform in India by registered users as of FY 2023. The company’s Registered Users have grown at a CAGR of 12.31% between FY22 to FY24 to 155.84 million, while the company had 161.03 million Registered Users as of June 30, 2024.
As on June 30, 2024, over 4.26 million Merchants had accepted payments through the company’s payment modes, including over 4.13 million physical stores and 0.13 million Online Merchants. As of May 2024, the Company is the largest wallet player in India with 23.11% market share of the PPI wallet gross transaction values (GTV) (excluding Fast Tag GTV)/
Mobikwik’s Payment GMV has grown at an annual rate of 45.88% and MobiKwik ZIP GMV (Disbursements) has grown at an annual rate of 112.16% from FY2022 to FY2024.
Mobikwik IPO Live: Mobikwik IPO has been subscribed 11.08 times so far. The public issue received bids for 13.15 crore equity shares as against 1.18 crore shares on the offer, according to NSE data at 12:25 PM on Thursday, the second day of the bidding process. The Retail investors portion was booked 39.39 times, while the Non Institutional Investors (NII) portion was subscribed 14.33 times so far. Qualified Institutional Buyers (QIBs) portion was booked 2%.
Mobikwik IPO Live: Considering the P/E valuation, on the upper end of the price band of ₹279, the stock is priced at pre issue P/E of 113.32 x on FY24 EPS of ₹2.46. Post issue, the stock is priced at a P/E of 153.92x on its EPS of ₹1.81. Looking at the P/B ratio at ₹279 pre issue, book value of Rs. 28.43 of P/Bvx 9.81x. Post issue, book value of Rs.94.56 of P/Bvx 2.95x.
Considering the P/E valuation, on the lower end of the price band of Rs.265, the stock is priced at pre issue P/E of 107.63x on FY24 EPS of Rs.2.46. Post issue, the stock is priced at a P/E of 146.22x on its EPS of Rs. 1.81. Looking at the P/B ratio at Rs.265 pre issue, book value of Rs. 28.43 of P/Bvx 9.32x. Post issue, book value of Rs.94.56 of P/Bvx 2.80x, SMC Global said.
Mobikwik IPO Live: At the upper band company is valuing at 155x its FY24. Following the issuance of equity shares, the company’s market capitalization stands at ₹21,674.5 million, with a market cap-to-sales ratio of 2.4 based on its FY24 earnings. The company is preparing to introduce additional services, such as investments and insurance, to establish itself as a comprehensive digital platform for financial services, which is expected to boost its future revenue and profits. However, it reported losses for Q1 FY25 due to prefunding cost adjustment provisions. We believe that the issue is richly priced and recommend “Subscribe – Long Term" rating to the IPO, said brokerage firm Anand Rathi.
Mobikwik IPO Live: Mobikwik IPO has been subscribed 8.44 times so far as the second day of the bidding commenced. The public issue received bids for 10.02 crore equity shares as against 1.18 crore shares on the offer, according to NSE data at 10:10 AM on Thursday, the second dat of the subscription period. The Retail investors portion was booked 30.13 times, while the Non Institutional Investors (NII) portion was subscribed 10.84 times so far. Qualified Institutional Buyers (QIBs) portion was booked 2%.
Mobikwik IPO Live: Mobikwik IPO GMP today, or grey market premium today, surged to ₹150 per share on December 12, the second day of the bidding process, according to stock market observers. This indicates that in the grey market, Mobikwik shares are trading at ₹429 apiece, a premium of 54% to the issue price of ₹279 per share.
Mobikwik IPO Live: On the first day of the bidding process, Mobikwik IPO received bids for 8,68,26,031 equity shares as against 1,18,71,696 shares on the offer. The retail investors’ portion was booked 26.75 times, while the Non-Institutional Investors (NIIs) portion was been 8.98 times. The Qualified Institutional Buyers (QIB) portion was booked 0.02% on Day 1.
Mobikwik IPO Live: Mobikwik IPO has entered the second day of its bidding process today, December 12. The public issue got heavily oversubscribed on the first day. The IPO has been booked 7.31 times so far as it received bids for 8.68 crore equity shares as against 1.18 crore shares on the offer. The bidding will now commence at 10:00 AM today.
Mobikwik IPO Day 1 Live: One Mobikwik Systems' initial public offering (IPO) was subscribed 7.32 times on the first day of public bidding. Investors across the board subscribed for nearly 8.69 crore shares, compared to the 1.18 crore shares available.
The retail investors subscribed to the IPO 26.75 times their shares available on Day 1. The Non-Institutional Investors (NIIs) subscribed 8.98 times their shares on offer. The Qualified Institutional Buyers (QIB) segment came up with the least contribution to the subscription rally, coming in at 02% of the shares available for bidding on Day 1 of the Mobikwik IPO.
Mobikwik IPO Day 1 Live: Mobikwik public issue has been subscribed 7.12 times so far, as of 4:36 p.m. on the first day. Retail investor segment bids have crossed 26.17 times the shares available.
The QIB segment has received 0.02% subscription so far, while the NII segment has been booked 8.62 times, as per the BSE data.
Mobikwik IPO Day 1 Live: Mobikwik IPO's grey market premium (GMP) remains unchanged at ₹136 per share. With the upper price band at ₹279, the public issue is expected to be listed at ₹415, a premium of 48.75%, according to Investorgain.com.
Grey market premium (GMP) is the investor's willingness to pay more for a public issue.
Mobikwik IPO Day 1 Live: Mobikwik IPO's Qualified Institutional Buyers (QIBs) has received 1% subscription so far, as of 4:03 p.m. on Wednesday.
The QIBs have subscribed for 88,404 shares, compared to the 64,75,471 shares available for the segment, as per BSE data.
Mobikwik IPO Day 1 Live: Mobikwik public issue has been subscribed 24.42 times by the retail investor segment, so far as of 4:00 p.m. on Wednesday, December 11.
Retail investors have subscribed 5,27,06,751 shares, compared to the 21,58,490 shares available for the segment, as per BSE data.
Mobikwik IPO Day 1 Live: One Mobikwik Systems public offer has been subscribed 6.31 times on the first day due to heavy retail bidding.
The investors have bid for 7,48,67,588 shares, compared to the 1,18,71,696 shares available, as of 3:57 p.m.
Mobikwik IPO Live: Mobikwik IPO has been subscribed over 4.96 times till 2:45 PM on Wednesday, the first day of the bidding process, data from NSE showed. The issue has so far received 19.89 times subscription in the Retail Investors category and 4.91 times in the Non Institutional Investors (NII) category. The Qualified Institutional Buyers (QIBs) are yet to bid for the issue.
Mobikwik IPO Live: Mobikwik IPO is attractively priced at P/BV of 10.06 based on its NAV of ₹27.74 as of June 30, 2024, and at a P/BV of 2.97 based on its post-IPO NAV of ₹94.05 (at the upper cap). MobiKwik offers a compelling investment opportunity in its IPO, backed by a robust growth strategy and a proven track record of innovation in the fintech space. The industry has good growth opportunities lying ahead and investors with a mid to long term horizon can apply for the IPO, said Gaurav Garg, Research Analyst at Lemonn Markets Desk.
Mobikwik IPO Live: At the upper price band of ₹279, Mobikwik is available at market-cap/sales of 2.5x (on FY24 financials), which appears to be reasonably priced. We assign a “Subscribe" rating for the issue on a long-term basis, considering its strong brand recall, diversified offerings, rapid scaling, consistent innovation, customer stickiness and promising industry outlook, says Geojit Financial Services
Mobikwik IPO Live: Mobikwik IPO has been subscribed over 4 times till 1:40 PM on Wednesday, the first day of the bidding process, data from NSE showed. The issue has so far received 16.53 times subscription in the Retail Investors category and 3.87 times in the Non Institutional Investors (NII) category. The Qualified Institutional Buyers (QIBs) are yet to bid for the issue.
Mobikwik IPO Live: One Mobikwik Systems is well-positioned in India’s fintech sector with scalable operations, profitability, and strong consumer loyalty, reflected in its low CAC of ₹32.87 and 90.3% repeat usage rate. The company reported ₹875 crore in revenue and ₹14 crore net profit in FY24, with a 4.2% EBITDA margin, highlighting operational efficiency compared to peers like Paytm. Mobikwik stands out with a 24% PPI wallet market share, With an attractive valuation at 2.3x EV/Sales the company is well-positioned for future growth. We recommend a Subscribe rating for the IPO based on its profitability, scalability, and strong brand presence, Nirmal Bang said.
Mobikwik IPO Live: A look at key details of Mobikwik IPO
Mobikwik IPO Live: Mobikwik IPO has been subscribed 2.75 times till 12:30 PM on Wednesday, the first day of the bidding process, data from NSE showed. The issue has so far received 11.47 times subscription in the Retail Investors category and 2.43 times in the Non Institutional Investors (NII) category.
Mobikwik IPO Live: For the fiscal year ending March 31, 2024, One Mobikwik Systems Ltd. reported a profit of ₹14.08 crore. The company's payment Gross Merchandise Value (GMV) grew at a CAGR of 45.88%, while Mobikwik ZIP GMV (disbursements) witnessed a CAGR of 112.16% between FY22 and FY24. Its core focus areas include payments, consumer credit, investments, and insurance.
Mobikwik IPO Live: One Mobikwik Systems already raised nearly ₹257 crore from anchor investors on December 10 ahead of its IPO opening today. MobiKwik Ltd allocated 92.26 lakh equity shares to 21 funds at ₹279 apiece in the anchor round, the upper end of the price band. This translates into a transaction size of ₹257.4 crore.
According to BSE, foreign and domestic institutions that participated in the anchor round included the Government Pension Fund (Norges Fund), Eastspring Investments, Morgan Stanley Investments, White Oak Capital, 360 One Asset & Wealth Management, HDFC Mutual Fund (MF), Axis MF, SBI MF, and SBI General Insurance.
Mobikwik IPO Live: Mobikwik IPO has been receiving strong demand on the first day of the bidding process. Mobikwik IPO has been subscribed 1.82 times so far till 11:30 AM, data from NSE showed. The public issue has been booked 7.69 times in the Retail Investors category and 1.55 times in the Non Institutional Investors (NII) category so far.
Mobikwik IPO Live: MobiKwik has reported a 29% revenue CAGR from FY22 to FY24 and reached EBITDA-level profitability in the current fiscal year. In comparison to its peers like PhonePe, Paytm, and PayPal, MobiKwik significantly lags in registered user base and diversified service offerings. While the company has carved out a niche in ZIP and ZIP EMI offerings, with a growing Financial Services vertical and a low CAC/user, the company is poised to build and attract a bigger pie, said KRChoksey Securities.
The post issue Price to Sales of 2.5x seems reasonable compared to it’s peers. Considering these factors, we assign a “SUBSCRIBE" rating to MobiKwik IPO, said the brokerage firm.
Mobikwik IPO Live: Mobikwik IPO has been fully subscribed within an hour of opening on the first day of the bidding process amid strong demand. Mobikwik IPO has been subscribed 1.01 times so far till 10:54 AM, data from NSE showed. The public issue has been booked 4.14 times in the Retail Investors category and 92% in the Non Institutional Investors (NII) category so far.
Mobikwik IPO Live: Mobikwik IPO has been receiving strong demand on the first day of the bidding process. Mobikwik IPO has been subscribed 80% so far till 10:40 AM, data from NSE showed. The public issue has been booked 3.3 times in the Retail Investors category and 77% in the Non Institutional Investors (NII) category so far.
Mobikwik IPO Live: Mobikwik IPO GMP today has risen sharply from the previous day. According to stock market observers, Mobikwik shares are showing a strong trend in the unlisted market with a rising grey market premium (GMP). Mobikwik IPO GMP today has spiked to ₹136 per share, stock market experts said. This indicates that in the grey market, Mobikwik shares are trading at ₹415 apiece in the grey market, a premium of 49% to the IPO price of ₹279 apiece.
Mobikwik IPO Live: Mobikwik IPO has been subscribed 18% within 15 minutes of opening today led by strong demand from retail investors. Mobikwik IPO received 62% subscription from Retail investors, and 24% subscription from Non Institutional Investors (NII) so far, according to NSE data till 10:15 AM on day 1.
Mobikwik IPO Live: SBI Capital Markets and Dam Capital Advisors Ltd are the book running lead managers of the Mobikwik IPO, while Link Intime India is the IPO registrar.
Mobikwik IPO Live: Mobikwik shares are showing a bullish trend in the unlisted market. According to stock market observers, Mobikwik IPO grey market premium (GMP) is in the strong positive zone. Mobikwik IPO GMP today is ₹136 per share, stock market experts said. This indicates that in the grey market, Mobikwik shares are trading higher by ₹136 than their issue price of ₹279 per share. Thus, Mobikwik IPO GMP today indicates that One Mobikwik Systems shares are trading at ₹415 apiece in the grey market, a premium of 49% to the IPO price of ₹279 apiece.
Mobikwik IPO Live: At the upper-end of the price band, Mobikwik aims to raise ₹572 crore from the issue which is entirely a fresh issue of 2.05 crore equity shares. The company proposes to utilise the net issue proceeds towards funding growth in the financial services and payment services businesses, investment in data, ML, AI, product and technology, capital expenditure for the payment devices business and general corporate purposes.
Mobikwik IPO Live: Mobikwik IPO price band has been fixed at ₹265 to ₹279 per share and the IPO lot size is 53 shares. The minimum investment amount required by retail investors is ₹14,787.
Mobikwik IPO Live:The initial public offering (IPO) of fintech company One Mobikwik Systems hits the Indian primary market today, December 11. Bidding for the Mobikwik IPO will begin from 10:00 AM today and remain open until 5:00 PM on 13th December 2024.
