• Source:JND
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MobiKwik's initial public offering was fully subscribed in the first hour after the share sale opened for subscription at 10 am Today. The IPO drew strong interest from investors as shares reserved for retail investors subscribed nearly five times opening hours, while the portion reserved for non-institutional investors was fully sold, according to exchange data.

Mobikwik IPO Subscription Status

As per data available with NSE till 12:18 pm, the IPO was subscribed 2.66 times against the total issue shares. Bids were received for 3,15,94,572 shares against 1,18,71,696 issued shares. The portion reserved for retail individual investors (RIIs) subscribed 11 times while the non-institutional investor segment (NIIs) got 2.36 times bidding. Earlier on Tuesday, MobiKwik Systems raised Rs. 257 crore from anchor investors.

Mobikwik IPO GMP Today

The Grey Market Premium (GMP) of Mobikwik IPO is Rs 136 or 48%. According to investorgain.com, the shares of Mobikwik are trading at Rs 415 per share, up 48.75%, or 136 rupees against the IPO price of Rs 179.

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Mobikwik IPO Details

The Rs. 572 crore IPO is open for public subscription from December 11 to 13. The company has priced the issue at Rs. 265-279 per share. The public issue is fully Rs. 572 crore worth of equity shares, which does not have any offer for sale (OFS) component.

The proceeds from the latest issue will be used for organic growth in the financial services business, expansion of payment services and for research and development in artificial intelligence, machine learning and technology. The funds will also be used for capital expenditure on payment equipment.
MobiKwik, the company's flagship app, provides users with access to various payment options and financial products across digital credit, investments and insurance.

This is the Gurugram-based company's second attempt at a public issue after its first attempt in July 2021. Earlier, the company had shelved its IPO plans and withdrawn its draft notes due to adverse market conditions.

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