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PremiumMobikwik IPO Day 3 Live Updates: The initial public offering (IPO) of fintech company One Mobikwik Systems entered into its third day of bidding today, December 13. Mobikwik IPO opened for subscription on December 11 and will close today. The public issue received strong demand and got oversubscribed within hours of opening. The company plans to raise ₹572 crore from the issue at the upper-end of the price band of ₹265 to ₹279 per share. Led by high demand, Mobikwik IPO GMP today has spiked to ₹158 per share, indicating a 59.14% premium to the IPO price.
Stay tuned to our Mobikwik IPO Live blog for the latest updates:
Mobikwik IPO Live: MobiKwik IPO has been subscribed 119.38 times on the third and final day as the issue received bids for 1,41,72,86,992 shares as against 1.18 crore shares on the offer, according to BSE data at 7 pm on Friday.
The portion reserved for retail investors is subscribed 134.67 times, the portion reserved for Qualified Institutional Buyers (QIB) is booked 119.50 times, and the portion reserved for Non Institutional Investors (NII) is booked 108.95 times so far.
As of June 30, 2024, the company has acquired 161.03 million registered users and enabled 4.26 million merchants to process payments both online and offline. The company’s focus on growth through cost-effective, digital-first innovations is evident in its broad range of scalable products. It has maintained one of the lowest employee cost-to-revenue ratios among digital financial product and service platforms in FY23, according to a RedSeer report. Additionally, its Payment GMV has grown at an annual rate of 45.88%, while MobiKwik ZIP GMV (Disbursements) has seen a remarkable annual growth rate of 112.16% from FY2022 to FY2024.
Revenue grew at a CAGR of 29% (over FY22-24) to ₹875cr and became profitable at both the EBITDA and PAT levels in FY24.
Mobikwik enjoys a strong brand presence and recognition in both large and small cities across India. With ~72% of digital loan disbursements in Tier 3+ locations, Mobikwik is bridging the financial gap and empowering underserved regions with modern financial services.
Mobikwik has experienced strong traction in its wealth vertical, with Assets Under Administration (AUA) rising sharply from ₹323.68cr as of FY22, to ₹6,692.85cr by June 30, 2024.
Mobikwik IPO Live: MobiKwik IPO has been subscribed 119.38 times so far as the issue received bids for 67.39 crore equity shares as against 1.18 crore shares on the offer, according to BSE data toll 5:40 PM on Friday. The portion reserved for retail investors is subscribed 134.67 times, the portion reserved for Qualified Institutional Buyers (QIB) is booked 119.50 times, and the portion reserved for Non Institutional Investors (NII) is booked 108.95 times so far.
MobiKwik’s addressable market in FY23 is approximately USD 5.3 bn (INR 424 bn), projected to grow to ~USD 16-18 bn (INR 1.3-1.4 tn) by FY28, driven by rising internet penetration, higher disposable incomes, increasing digital penetration, and awareness.
The payment GMV (gross merchandise value) has grown at an annual rate of 45.88% and MobiKwik ZIP GMV (Disbursements) has grown at an annual rate of 112.16% from FY22 to FY24, led by new consumer and merchant additions and higher spends from existing customers.
The registered users have grown at a CAGR of 12.31%, from 123.56 mn in FY22, to 155.84 mn in FY24, and further reaching 161.03mn user base by June 30, 2024.
Mobikwik IPO Live: Gaurav Garg, Research Analyst at Lemonn Markets Desk on Mobikwik IPO-
"The IPO is attractively priced at P/BV of 10.06 based on its NAV of Rs. 27.74 as of June 30, 2024, and at a P/BV of 2.97 based on its post-IPO NAV of Rs. 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 company is scaling its product portfolio across payments, credit, wealth management, and insurance, while actively launching new solutions such as soundboxes, POS machines, and Merchant Credit Advances (MCA) to drive merchant retention and recurring revenue."
Mobikwik IPO Live: At the upper band of offer price of ₹279, the issue has been priced at P/BV of 3 times and Market Cap / Sales of 2.4 times on enhanced equity. Compared to One 97 Communication, P/BV of 4.3 times and Market Cap / Sales of 7.5 times, One Mobikwik Systems is reasonably valued. Investors may subscribe to Mobikwik IPO considering large, engaged consumer base acquired with low CAC, presence in highly underpenetrated market and gearing to add other services like investment, insurance to become all finance related services on digital platform, said Eureka Stock & Share Broking Services.
Mobikwik IPO Live: MobiKwik IPO has been subscribed 56.77 times so far as the issue received bids for 67.39 crore equity shares as against 1.18 crore shares on the offer, according to NSE data toll 2:15 PM on Friday. The portion reserved for retail investors is subscribed 110.09 times, the portion reserved for Qualified Institutional Buyers (QIB) is booked 26.19 times, and the portion reserved for Non Institutional Investors (NII) is booked 82.37 times so far.
Mobikwik IPO Live: According to Nirmal Bang, 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 Mobikwik IPO based on its profitability, scalability, and strong brand presence, Nirmal Bang said.
Mobikwik IPO Live: Mobikwik shares are showing a robust trend in the unlisted market with a strong grey market premium (GMP) despite weakness in the secondary market. According to stock market observers, Mobikwik IPO GMP today has risen to ₹158 per share. This indicates that in the grey market, Mobikwik shares are trading at ₹437 apiece, a premium of 57% to the IPO price of ₹279 per share.
Mobikwik IPO Live: MobiKwik IPO has been subscribed 37.85 times so far as the issue received bids for 44.93 crore equity shares as against 1.18 crore shares on the offer, according to NSE data till 12:50 PM on Friday. The portion reserved for retail investors is subscribed 97.62 times, the portion reserved for Qualified Institutional Buyers (QIB) is booked 3.48 times, and the portion reserved for Non Institutional Investors (NII) is booked 66.72 times so far.
Mobikwik IPO Live: One Mobikwik Systems being one of the leading digital banking platforms with robust customer base, aims for sustained growth and market dominance, through strategic focus centres on the expansion and refinement of existing business segments. The company also plans to expand its product portfolio in existing business lines. Investors looking to invest can invest in the IPO for the long term, said Master Capital Services.
Mobikwik IPO Live: Digital payments are on a growth trajectory, and in FY28 the expected volume of digital transactions are projected to be in the range of $500-550 billion, with an estimated value of $60-70 trillion. Traditional market players usually serve the 20-25 million affluent and 90-100 million well-off individuals in the country. However, there exists a substantial untapped market of more than 500 million individuals in the “middle India population", who are not actively addressed by the traditional market players. Among these, 120-130 million individuals are credit active, presenting a considerable opportunity. Additionally, there are more than 400 million consumers who are not currently engaged in credit activities but require access to financial products, analysts said.
Mobikwik IPO Live: MobiKwik IPO has been subscribed 29.73 times so far as the issue received bids for 35.29 crore equity shares as against 1.18 crore shares on the offer, according to NSE data toll 11:25 AM on Friday. The portion reserved for retail investors is subscribed 84.83 times, the portion reserved for Qualified Institutional Buyers (QIB) is booked 1.12 times, and the portion reserved for Non Institutional Investors (NII) is booked 50.22 times so far.
Mobikwik IPO Live: At present, the Indian primary market is buzzing with as many as five mainboard initial public offerings (IPOs). Three mainboard issues - Vishal Mega Mart IPO, Mobikwik IPO and Sai Life Sciences IPO - opened for subscription on Wednesday, December 11, and are concluding today, i.e. Friday, December 13.
Meanwhile, the Inventurus Knowledge Solutions IPO, which opened on Thursday, December 12, will close on Monday, December 16. The International Gemmological Institute IPO opened for subscription on Friday, December 13, and will close on Tuesday, December 17.
All these issues are witnessing healthy demand from investors. They are trading at a premium in the grey market. Check out here what the grey market signals for these five mainboard IPOs that are open for subscription.
Mobikwik IPO Live: MobiKwik IPO has been subscribed 24.62 times so far as the issue received bids for 29.22 crore equity shares as against 1.18 crore shares on the offer, according to NSE data toll 10:20 AM on Friday. The portion reserved for retail investors is subscribed 73.47 times, the portion reserved for Qualified Institutional Buyers (QIB) is booked 1.10 times, and the portion reserved for Non Institutional Investors (NII) is booked 39.08 times so far.
Mobikwik IPO Live: One Mobikwik Systems is a digital payment platform catering to both customers and merchants. The company has demonstrated consistent growth in revenue and recently turned profitable after prior losses. It operates in a highly competitive fintech landscape, which may impact future growth and market share. Mobikwik IPO is priced at a high valuation. It is suitable only for high-risk investors, said Swastika Investmart.
Mobikwik IPO Live: Mobikwik shares are showing a robust trend in the unlisted market with a strong grey market premium (GMP). According to stock market observers, Mobikwik IPO GMP today has risen to ₹158 per share. This indicates that Mobikwik shares are trading at ₹437 apiece in the grey market, a premium of 57% to the IPO price of ₹279 per share.
Mobikwik IPO Live: On the second day of subscription, MobiKwik IPO was subscribed 20.37 times in total as the issue received bids for 24.18 crore equity shares as against 1.18 crore shares on the offer. The portion reserved for retail investors was subscribed 64.52 times, the portion reserved for Qualified Institutional Buyers (QIB) was booked 84%, and the portion reserved for Non Institutional Investors (NII( was booked 30 times on the second day, according to NSE data.
Mobikwik IPO Live: 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.
Mobikwik IPO Live: Mobikwik IPO enters into its third and the last day of bidding today, December 13. The public issue opened for subscription on Wednesday, December 11 and will close today. Mobikwik IPO allotment is expected to be finalized on Monday, December 16, and the IPO listing date is likely December 18. The issue has been receiving strong subscription demand so far.
