Signage for digital payment service MobiKwik, operated by One MobiKwik Systems Pvt., is displayed at a stall selling snacks in Bengaluru, India, on Saturday, Feb. 4, 2017. A relative laggard in digital transactions, India has more recently seen 50 percent year-on-year growth, according to a study by Google and Boston Consulting Group. The pace may accelerate with demonetization giving digital wallets like Paytm, MobiKwik and Freecharge an extra push. Photographer: Dhiraj Singh/Bloomberg | Photo Credit: DHIRAJ SINGH
One Mobikwik Systems IPO, Mobikwik Systems IPO GMP Updates: The initial public offering of One MobiKwik Systems, valued at ₹572 crore, witnessed a remarkable subscription rate of 20.41 times, with retail investors leading the charge at 64.65 times. The company offered shares within a price band of ₹265-279, enabling investors to bid in multiples of 53 shares. With a focus on growth, the entire proceeds will be allocated to the company, supporting its financial and payment services sectors, research and development in data and AI, and capital expenditures for payment devices. Following a successful allocation to anchor investors amounting to ₹257 crore, we see participation from notable institutions. Founded by Bipin Preet Singh and Upasana Taku, MobiKwik aims to enhance its platform value and profitability, having recently reported a profit of ₹14.08 crore for the fiscal year ending March 31, 2024.
- 16:05 | December 13, 2024
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- 16:04 | December 13, 2024
MobiKwik IPO Live: Subscribed 118.30 times so far
MobiKwik IPO has been subscribed 118.30 times as at 3.57 pm on December 13, 2024. The NIIs have been booked 108.51 times, QIBs 119.50 times, and retail portion 129.38 times.
- 15:52 | December 13, 2024
MobiKwik IPO: Subscribed 115.24 times as at 3.42 pm
MobiKwik IPO has been subscribed 115.24 times as at 3.42 pm on December 13, 2024. The NIIs have been booked 107.91 times, QIBs 114.86 times, and retail portion 127.36 times.
- 15:11 | December 13, 2024
MobiKwik IPO Live: Subscribed 85.53 times
MobiKwik IPO has been subscribed 85.53 times as at 3.03 pm on December 13, 2024. The NIIs have been booked 94.59 times, QIBs 69.91 times, and retail portion 118.83 times.
- 14:41 | December 13, 2024
One Mobikwik IPO Live: Subscribed 62.30 times as at 2.30 pm
- QIBs: 32.60 times
- NIIs: 87.81 times
- Retail portion: 113.14 times
Total: 62.30 times
- 14:14 | December 13, 2024
One Mobikwik IPO Live: Subscribed 54.65 times as at 2.06 pm
QIBs: 22.70 times
NIIs: 81.81 times
Retail portion: 109.77 times
Total: 54.65 times
- 13:26 | December 13, 2024
- 13:09 | December 13, 2024
One Mobikwik IPO Live: Subscribed 39.67 times as at 1.03 pm
- QIBs: 4.81 times
- NIIs: 68.90 times
- Retail portion: 100.42 times
Total: 39.67 times
- 12:44 | December 13, 2024
One Mobikwik IPO Live: Subscribed 36.92 times as at 12.36 pm
QIBs: 2.89 times
NIIs: 65.35 times
Retail portion: 96.35 times
Total: 36.92 times
- 11:49 | December 13, 2024
One Mobikwik IPO Live: Subscribed 31.16 times as at 11.42 am
- QIBs: 1.36 times
- NIIs: 52.98 times
- Retail portion: 87.80 times
Total: 31.16 times
- 11:06 | December 13, 2024
One Mobikwik IPO Live: Subscribed 28.31 times as at 11 am
- QIBs: 1.12 times
- NIIs: 47.18 times
- Retail portion: 81.57 times
Total: 28.31 times
- 10:47 | December 13, 2024
IPO Live updates: bl brings to you latest IPO updates, subscription status and GMP details
For live updates on One Mobikwik Systems here
For live updates on Vishal Mega Mart IPO here
International Gemmological, Hams Bio IPO opens for subscription; Track live updates on upcoming IPOs here
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- 10:36 | December 13, 2024
One Mobikwik IPO Live: Subscribed 25.41 times, enters last day
- QIBs: 1.10 times
- NIIs: 41.21 times
- Retail portion: 74.67 times
Total: 25.41 times
- 09:30 | December 13, 2024
One Mobikwik IPO Live: Subscribed 20.41 times, enters last day
- QIBs: 0.84 times
- NIIs: 30.47 times
- Retail portion: 64.65 times
Total: 20.41 times
- 09:17 | December 13, 2024
One Mobikwik IPO enters last day with aggressive tone
The ₹572-crore initial public offering of One MobiKwik Systems that closes today saw an overwhelming response from all categories of investors by subscribing 20.41 times. The price band for the offer has been determined at ₹265-279 a share. Investors can bid for a minimum of 53 shares and multiples of 53 equity shares thereafter. The entire IPO is a fresh issue, which means all the funds raised will go to the company. The retail investors were more aggressive as the quota allotted for them saw a subscription of 64.65 times.
The issue is being made through the book-building process, wherein not less than 75 per cent of the issue is reserved for allocation proportionately to qualified institutional buyers, up to 15 per cent to non-institutional investors (HNI), and 10 per cent to retail investors. The HNI portion was subscribed 30.07 times while QIB’ by 0.84 times.
As part of the IPO, One MobiKwik Systems on Tuesday garnered ₹257 crore from anchor investors by allocating 92 lakh shares at ₹279 a share.
Report by KS Badri Narayanan of businessline | Read here
- 16:06 | December 12, 2024
One MobiKwik Systems IPO: Subscription status
One MobiKwik Systems IPO has been subscribed 17.07 times as at 3.33 pm on December 12, 2024. The NII portion has been booked 22.44 times, retail portion 57.78 times, and QIBs 0.82 times.
- 16:04 | December 12, 2024
One MobiKwik Systems IPO: Subscribed 17.04 times
One MobiKwik Systems IPO has been subscribed 17.04 times as at 3.30 pm on December 12, 2024.
- NIIs: 22.39 times
- Retail: 57.65 times
- QIBs: 0.82 times
Total 17.04 times
(BSE data as at 3.30 pm)
- 15:46 | December 12, 2024
One MobiKwik Systems IPO: Subscribed 16.59 times
One MobiKwik Systems IPO has been subscribed 16.59 times as at 3.09 pm on December 12, 2024.
- NIIs: 21.82 times
- Retail: 56.09 times
- QIBs: 0.82 times
Total 16.59 times
(BSE data as at 3.09 pm)
- 15:24 | December 12, 2024
One MobiKwik Systems IPO: Subscribed 15.76 times
One MobiKwik Systems IPO has been subscribed 15.76 times as at 2.48 pm on December 12, 2024.
- NIIs: 20.85 times
- Retail: 53.82 times
- QIBs: 0.52 times
Total 15.76 times
(BSE data as at 2.48 pm)
- 15:08 | December 12, 2024
MobiKwik IPO: Should you subscribe?
As they say, ‘Third time’s a charm,’ One Mobikwik Systems (MobiKwik) has successfully launched its IPO after a couple of failed attempts earlier. The issue, which is entirely a fresh issue of ₹572 crore, is smaller than the earlier ₹1,900 crore in 2021 and ₹700 crore in January this year. The company says this is due to the scale it has already achieved without the need for additional capital.
The company intends to use the issue proceeds as follows: ₹285 crore for funding organic growth, ₹107 crore for R&D, ₹70 crore for capex on payment devices (soundboxes), and the rest for general corporate purposes. Promoters currently hold a 34.3 per cent stake (on a non-diluted basis), which is set to reduce to 25.2 per cent post-IPO.
The issue is valued at an EV/Revenue multiple of 1.8 times based on FY24 revenue. The multiple works out to 1.2 times based on annualized Q1 FY25 revenue. The valuation appears fair given MobiKwik’s scale (see table) compared to the only listed peer, Paytm (One 97 Communications), which trades at a rich valuation of 5.6 times (FY24 revenue). Further, Paytm is yet to turn profitable. MobiKwik, on the other hand, turned profitable in FY24, though boosted by passive other income (other income ₹15.3 crore, net profit ₹14.1 crore). Factors going for the company and against it are discussed below. Overall, considering these factors, the issue appears attractively priced, and long-term investors with a higher risk appetite can subscribe to the issue.
Read the full report by bl Research Bureau here
- 14:33 | December 12, 2024
One MobiKwik Systems IPO: Subscribed 13.96 times
One MobiKwik Systems IPO has been subscribed 13.96 times as at 1.57 pm on December 12, 2024.
- NIIs: 18.88 times
- Retail: 48.37 times
- QIBs: 0.03 times
Total 13.96 times
(BSE data as at 1.57 pm)
- 14:31 | December 12, 2024
Vishal Mega Mart IPO fully subscribed
Vishal Mega Mart IPO: Fully subscribed, check subscription status, GMP
- 13:33 | December 12, 2024
One MobiKwik Systems IPO: Booked 12.39 times as at 1 pm
One MobiKwik Systems IPO has been subscribed 12.39 times as at 1 pm on December 12, 2024.
- NIIs: 16.96 times
- Retail: 42.64 times
- QIBs: 0.03 times
Total: 12.39 times
(BSE data as at 1 pm)
- 13:14 | December 12, 2024
One MobiKwik Systems IPO: Subscribed 12.19 times
One MobiKwik Systems IPO has been subscribed 12.19 times as at 12.48 pm on December 12, 2024.
- NIIs: 16.57 times
- Retail: 42.09 times
- QIBs: 0.03 times
Total 12.19 times
(BSE data as at 12.48 pm)
- 12:50 | December 12, 2024
One MobiKwik Systems IPO: Subscribed 11.80 times
One MobiKwik Systems IPO has been subscribed 11.80 times as at 12.30 pm on December 12, 2024.
- NIIs: 15.88 times
- Retail: 41.03 times
- QIBs: 0.02 times
Total 11.80 times
(BSE data as at 12.30 pm)
- 12:04 | December 12, 2024
One MobiKwik Systems IPO: Subscribed 10.74 times
One MobiKwik Systems IPO has been subscribed 10.74 times as at 11.48 am on December 12, 2024.
- NIIs: 13.79 times
- Retail: 38.33 times
- QIBs: 0.02 times
Total 10.74 times
(BSE data as at 11.48 am)
- 11:13 | December 12, 2024
Emerald Tyre Manufacturers Share Price, IPO Listing Live: Stock debuts at 90% premium on NSE Emerge
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- 11:05 | December 12, 2024
One MobiKwik Systems IPO: Subscribed 9.52 times
One MobiKwik Systems IPO has been subscribed 9.52 times as at 10.48 am on December 12, 2024.
- NIIs: 12.33 times
- Retail: 33.78 times
- QIBs: 0.02 times
Total 9.52 times
(BSE data as at 10.48 am)
- 10:29 | December 12, 2024
Vishal Mega Mart IPO: Booked 62% so far
Track live updates here
- 10:27 | December 12, 2024
One MobiKwik Systems IPO: Subscribed 8.66 times
One MobiKwik Systems IPO has been subscribed 8.66 times as at 10.18 am on December 12, 2024. The NII portion has been booked 11.18 times, retail portion 30.62 times, and QIBs lukewarm at 0.02 times.
- 09:38 | December 12, 2024
One MobiKwik Systems IPO: Oversubscribed on day 1
One MobiKwik Systems IPO has been subscribed 7.32 times on December 11, 2024. The NII portion has been booked 8.98 times, retail portion 26.75 times, and QIBs lukewarm at 0.02 times.
- 09:36 | December 12, 2024
One MobiKwik Systems IPO Live: One MobiKwik Systems IPO subscribed 7.3 times on first day of offer - PTI
The initial public offering (IPO) of fintech company One MobiKwik Systems got subscribed 7.3 times, receiving an overwhelming response from retail investors, on the first day of sale on Wednesday.
This is the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021. Earlier, the company shelved its IPO plans and withdrew the draft papers due to unfavourable market conditions.
The share sale received bids for 8,68,26,031 shares, as against 1,18,71,696 shares on offer, as per data available on the National Stock Exchange (NSE).
The Retail Individual Investors (RIIs) part got subscribed 26.71 times, while non-institutional investors category received 8.97 times subscription, and the quota for Qualified Institutional Buyers (QIBs) received a mere 2 per cent subscription.
Mobikwik has reduced its IPO size from its earlier plans of Rs 1,900 crore in 2021 to Rs 700 crore in January this year to Rs 572 crore now.
MobiKwik MD and CEO Bipin Preet Singh cited improved financial performance and strategic adjustments behind the IPO downsizing, reflecting a more realistic valuation, based on the current market conditions.
“The company is sustainable and profitable, and we have recovered from our losses and we don’t require that much cash at this point of time and this has allowed us to reduce the IPO size significantly,” Singh told reporters at an event here.
MobiKwik’s IPO got fully subscribed within an hour of opening of the issue on Wednesday, with investors expressing confidence in the strong growth prospects of India’s thriving online payments market.
“We are confident that we will grow this business without cash burn, which has motivated our investors to invest in the company,” Singh said.
On Tuesday, One MobiKwik Systems said it garnered Rs 257 crore from anchor investors.
The Rs 572-crore IPO will conclude on December 13.
The company has fixed the price band at Rs 265-279 per share.
The public issue is entirely a fresh issuance of equity shares worth up to Rs 572 crore with no offer-for-sale (OFS) component.
Founded by Bipin Preet Singh and Upasana Taku, MobiKwik -- the company’s flagship application -- provides consumers access to various payment options and financial products in digital credit, investments, and insurance.
The company faces stiff competition from major players, including PhonePe, Paytm, Airtel Payments Bank, and Freecharge.
The digital payments firm reported a consolidated total income of Rs 890.3 crore in FY24, compared to Rs 561.6 crore in FY23 and Rs 543.2 crore in FY22.
It incurred losses amounting to Rs 128.16 crore and Rs 83.8 crore in FY22 and FY23, respectively. However, for 2023-24, the company posted a profit of Rs 14.08 crore.
The shares of the company will be listed on the BSE and the NSE.
PTI
- 16:06 | December 11, 2024
One MobiKwik Systems IPO: Oversubscribed on day 1
One MobiKwik Systems IPO has been subscribed 7.06 times as at 4.30 pm on December 11, 2024. The NII portion has been booked 8.53 times, retail portion 26 times, and QIBs lukewarm at 0.02 times.
- 15:23 | December 11, 2024
One MobiKwik Systems IPO: Subscribed 5.38 times
One MobiKwik Systems IPO has been subscribed 5.38 times as at 3.15 pm on December 11, 2024. The NII portion has been booked 5.42 times, and retail portion 21.44 times. QIBs were nil at the time of writing.
- 14:34 | December 11, 2024
One MobiKwik Systems IPO: Subscribed 4.70 times
One MobiKwik Systems IPO has been subscribed 4.70 times as at 2.27 pm on December 11, 2024. The NII portion has been booked 4.61 times, and retail portion 18.94 times. QIBs were nil at the time of writing.
- 13:46 | December 11, 2024
One MobiKwik Systems IPO: Subscribed 3.95 times
One MobiKwik Systems IPO has been subscribed 3.95 times as at 1.33 pm on December 11, 2024.
- NII: 3.77 times
- Retail: 16.09 times
Total: 3.95 times
(BSE data as at 1.33 PM)
- 13:06 | December 11, 2024
One MobiKwik Systems IPO: Booked 3.37 times
One MobiKwik Systems has been subscribed 3.37 times as at 12.57 pm on December 11, 2024.
- NII: 3.10 times
- Retail: 13.90 times
Total: 3.37 times
(BSE data as at 12.57 PM)
- 12:51 | December 11, 2024
Vishal Mega Mart IPO: Booked 20%
Vishal Mega Mart IPO has been subscribed 20% or 0.20 times as at 12.42 pm.
- NIIs portion: 0.30 times
- Retail: 0.27 times
- 12:47 | December 11, 2024
One MobiKwik Systems IPO: Booked 3.01 times
One MobiKwik Systems has been subscribed 3.01 times as at 12.39 pm on December 11, 2024. The NII portion has been booked 2.71 times and retail portion 12.47 times.
- 12:33 | December 11, 2024
One MobiKwik Systems IPO: Use of proceeds
One MobiKwik Systems IPO fully subscribed
Proceeds from the fresh issue will be used for organic growth in its financial services business, for expanding its payment services and for research and development in AI, machine learning, and technology.
Funds will also be used for capital expenditure on payment devices.
- 12:06 | December 11, 2024
One MobiKwik Systems IPO: Oversubscribed
One MobiKwik Systems has been subscribed 2.35 times as at 11.57 am on December 11, 2024.
- NII: 2.06 times
- Retail: 9.83 times
Total: 2.35 times
(BSE data as at 11.57 am)
- 12:04 | December 11, 2024
Stock market live: Sensex, Nifty trades marginally higher
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- 11:24 | December 11, 2024
One MobiKwik Systems IPO: One Mobikwik Systems’ India IPO fully subscribed in first hour of share sale - Reuters
One MobiKwik Systems’ 5.72 billion-rupee ($67.4 million) IPO was fully subscribed within the first hour of the issue opening on Wednesday, as investors bet on strong growth prospects in India’s booming online payments market.
The fintech firm is taking bids from Dec. 11-13 in a price range of 265-279 rupees per share, targetting a valuation of 21.68 billion rupees. The stock is likely to start trading on Dec. 18.
The company, which counts non-bank lender Bajaj Finance , Peak XV and Abu Dhabi Investment Authority as existing shareholders, is selling only new shares in the IPO.
Reuters
- 11:17 | December 11, 2024
One MobiKwik Systems IPO: Booked 1.38 times
One MobiKwik Systems has been subscribed 1.38 times as at 11.09 am on day one.
- NII: 1.17 times
- Retail: 5.71 times
- Total: 1.38 times
(BSE data as at 11.09 am)
- 10:35 | December 11, 2024
One Mobikwik Systems IPO: Geojit assigns Subscribe rating
One Mobikwik Systems: Geojit assigns “Subscribe” rating for the issue on a long-term basis
“At the upper price band of ₹279, Mobikwik is available at Mcap/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.”
- 10:11 | December 11, 2024
One MobiKwik Systems IPO: Open for subscription
One MobiKwik Systems has been subscribed 0.05 times as at 10.06 am on day one.
- NIIs: 0.10 times
- Retail: 0.11 times
Total: 0.05 times
- 09:52 | December 11, 2024
Vishal Mega Mart IPO opens today
- 09:34 | December 11, 2024
MobiKwik IPO: One MobiKwik Systems IPO opens today at ₹265-₹279 price band
The ₹572-crore initial public offering of One MobiKwik Systems opens today and closes on Friday (December 13). The price band for the offer has been determined at ₹265-279 a share. Investors can bid for a minimum of 53 shares and multiples of 53 equity shares thereafter.
The issue is being made through the book-building process, wherein not less than 75 per cent of the issue is reserved for allocation on a proportionate basis to qualified institutional buyers, up to 15 per cent to non-institutional investors, and 10 per cent to retail investors.
As part of the IPO, One MobiKwik Systems on Tuesday garnered ₹257 crore from anchor investors by allocating 92 lakh shares at ₹279 a share.
Foreign and domestic institutions that participated in the anchor included marquee names such as Government Pension Fund (Norges Fund), Eastspring Investments, Morgan Stanley Investments, White Oak Capital, 360 One Asset & Wealth Management, HDFC MF, Axis MF, SBI MF, and SBI General Insurance.
Report by KS Badri Narayanan of businessline | Read here
- 09:28 | December 11, 2024
Mobikwik IPO News Live: Mobikwik Raises 257 cr from anchor investors
One MobiKwik Systems has garnered Rs 257 crore from anchor investors ahead of its initial public offering (IPO) . Foreign and domestic institutions who participated in the anchor round included 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, according to a circular uploaded on BSE’s website.
According to the circular, MobiKwik has decided to allocate 92.26 lakh equity shares to 21 funds at Rs 279 apiece, which is also the upper end of the price band. This translates into the transaction size to Rs 257.4 crore.
The IPO is entirely a fresh issuance of equity shares worth up to Rs 572 crore with no any offer-for-sale (OFS) portion. The issue, with a price band of Rs 265-279 per share, will be open for subscription during December 11 to 13.
- 08:41 | December 11, 2024
IPO News Live: One MobiKwik Systems IPO opens today at ₹265-₹279 price band
The ₹572-crore initial public offering of One MobiKwik Systems opens today and closes on Friday (December 13). The price band for the offer has been determined at ₹265-279 a share. Investors can bid for a minimum of 53 shares and multiples of 53 equity shares thereafter.
Published on December 11, 2024
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