One MobiKwik Systems Limited’s initial public offering (IPO) concluded on December 13, 2024, with robust subscription across all investor categories. The issue, priced between ₹265 to ₹279, witnessed massive oversubscription of 119.38 times the total shares on offer.
Qualified Institutional Buyers (QIBs) led the subscription, bidding for 119.50 times the allocated shares, with total bids of 77.38 crore shares against 64.75 lakh shares reserved. Foreign Institutional Investors were particularly active, contributing 20.92 crore shares to the QIB category.
Retail Individual Investors (RIIs) showed strong enthusiasm, oversubscribing their portion 134.67 times. Of the total RII bids, 25.31 crore shares were at the cut-off price, indicating significant retail investor confidence in the digital payment platform.
Non-Institutional Investors also demonstrated keen interest, oversubscribing their allocation 108.95 times. Individual investors outside the retail category were prominent, with 21.17 crore shares bid in the segment.
Gaurav Garg, Research Analyst at Lemonn Markets Desk, said: “Mobikwik’s IPO, fresh issue of ₹572 crore, was oversubscribed by an impressive 125.69 times, reflecting strong investor optimism. This enthusiasm is further supported by the grey market premium, currently at 59 per cent. The retail segment, which was allocated only 10 per cent of the issue, saw an overwhelming subscription of 141.78 times, making the chances of allotment for individual investors extremely slim.”
The IPO, which opened on December 11 and closed on December 13, 2024, is now awaiting its listing date.