Market buzz, subscriptions, and allocation for the Mobikwik IPO
Overview of the Mobikwik IPO
A highly anticipated public offering, the Mobikwik IPO has attracted a lot of interest from investors, demonstrating their great faith in the massive digital payments company. A new offering of 2.05 crore equity shares, priced between ₹265 and ₹279 per share, made up the ₹572 crore IPO. The initial public offering (IPO) was put up for bid between December 11 and December 13, 2024.Highlights of Subscriptions
Strong demand resulted in the IPO being oversubscribed 119.38 times:
The number of retail investors is 134.67.
- 108.95 times for non-institutional investors (NIIs)
- 119.50 times the number of qualified institutional buyers (QIBs)
Date of Allotment and Status Verification
After a weekend delay, the share allocation is anticipated to be completed on December 16, 2024. The following platforms allow applicants to view their allocation status:
BSEindia.com is the BSE's official website.
Linkintime.co.in is the official linkintime website.
How to Verify Your BSE Allotment Status:
1. Go to the website of the BSE.2. In the Issue Type field, choose 'Equity'.
3. From the dropdown menu, select 'Mobikwik IPO'.
4. Type in your PAN information or application number.
5. Click "Search" after choosing "I am not a robot" to confirm.
Grey Market Premium (GMP) Insights
The Grey Market Premium (GMP) for Mobikwik stood at ₹158 as of December 14, 2024. This suggests a potential listing price of approximately ₹437 (₹279 + ₹158), indicating a 57% listing gain. Such figures highlight strong secondary market interest and expectations of a successful debut.
Making Use of IPO Proceeds
The net proceeds from the IPO will be used by Mobikwik for:
- Growing its payment and financial services.
- Investing in AI and machine learning to improve data capabilities.
- Promoting technological innovation and product development.
- General business objectives.
The Business Model of Mobikwik
Mobikwik, a prominent financial technology business founded in 2008, focuses on online payment services and digital wallets. The platform provides a range of services, such as:
- Credit card payments, utility bill payments, and mobile recharges.
- Money transfers through bank accounts, QR codes, and UPI.
- Payment options for retailers both online and off.
Competitive Environment: Additional IPOs This Week
Three major public offerings are wrapping their allotments this week, including Mobikwik's IPO.
- Vishal Mega Mart IPO: 27.28 times subscribed, valued at ₹8,000 crore. A 25% listing gain is indicated by a GMP, and retail investors have a 50% probability of allocation.
- The ₹3,403 crore Sai Life Sciences IPO was subscribed for 10.26 times, and the GMP predicted a 13% gain upon listing.
2024: An IPO Record Year
The key markets experienced record-breaking activity in 2024. Important points to note are:
- 298 first public offerings (IPOs), up 22.6% from 2023.
- Raised funds reached ₹1.41 lakh crore, a 139% increase.
Due to favorable valuations following the market correction in September, smaller and mid-sized initial public offerings (IPOs) performed better than bigger ones. Retail investors are advised by professionals to concentrate on the basics and not from getting caught up in the excitement.
In conclusion
The IPO's high subscription numbers and premium in the grey market highlight the strong investor enthusiasm as Mobikwik prepares for its listing on December 18, 2024. Experts urge cautious optimism and strategic decision-making to optimize rewards in this booming market, even though the year-end rush in IPO activity is a sign of optimism.
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