Mobikwik IPO
- IPO Date11 Dec, 2024 to 13 Dec, 2024
- Listing Date18 Dec, 2024
- Face Value₹2 per share
- Issue Price₹265 to ₹279 per share
- Lot Size53 Shares
- Minimum Investment₹14,787
- Listing AtBSE, NSE
- Total Issue Size2,05,01,792 Shares
(aggregating up to ₹572.00 Cr) - Fresh Issue2,05,01,792 Shares
(aggregating up to ₹572.00 Cr)
- Offer for Sale-
- Issue TypeBook Built Issue IPO
- Share holding pre issue5,71,84,521
- Shareholding post issue7,76,86,313
IPO Dates
Closing Date
13 Dec, 2024
Initiation of Refunds
17 Dec, 2024
Listing Date
18 Dec, 2024
11 Dec, 2024
Opening Date
16 Dec, 2024
Basis of Allotment
17 Dec, 2024
Credit of Shares
Mobikwik Lot Size
Investors can bid for a minimum of 53 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| S-HNI (Min) | 14 | 742 | ₹2,07,018 |
| Retail (Min) | 1 | 53 | ₹14,787 |
| B-HNI (Min) | 68 | 3604 | ₹10,05,516 |
| S-HNI (Max) | 67 | 3551 | ₹9,90,729 |
| Retail (Max) | 13 | 689 | ₹1,92,231 |
Mobikwik Promoter Holding
Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust, and Narinder Singh Family Trust are the company's promoters.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 32.96% | - |
Mobikwik COMPANY INFORMATION
Mobikwik IPO is a book built issue of Rs 572.00 crores. The issue is entirely a fresh issue of 2.05 crore shares. Mobikwik IPO opens for subscription on December 11, 2024 and closes on December 13, 2024. The allotment for the Mobikwik IPO is expected to be finalized on Monday, December 16, 2024. Mobikwik IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, December 18, 2024. Mobikwik IPO price band is set at ₹265 to ₹279 per share. The minimum lot size for an application is 53 Shares. The minimum amount of investment required by retail investors is ₹14,787. The minimum lot size investment for sNII is 14 lots (742 shares), amounting to ₹207,018, and for bNII, it is 68 lots (3,604 shares), amounting to ₹1,005,516. SBI Capital Markets Limited and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) are the book running lead managers of the Mobikwik IPO, while Link Intime India Private Ltd is the registrar for the issue. Refer to Mobikwik IPO RHP for detailed information.
Incorporated in March 2008, Mobikwik is a fintech company providing prepaid digital wallets and online payment services.
The company provides a range of payment services, enabling consumers to:
- Pay utility bills, such as mobile recharges, electricity, and credit card bills
- Make purchases at both online and offline merchants, including retail stores and fuel stations
- Transfer money to phone numbers, UPI IDs, or bank accounts
- Check bank balances
- Scan QR codes and make payments using UPI or Rupay credit cards.
The company has created innovative products such as MobiKwik ZIP, ZIP EMI for consumers, and Merchant Cash Advance for merchants through in-house models and strategic partnerships with lending partners. These offerings utilize digital public infrastructure (DPI) such as Aadhaar, E-Nach, Digi-Locker, and NSDL to provide seamless and digital-first experiences for consumers.
As of June 30, 2024, the company has 161.03 million registered users and has enabled 4.26 million merchants to make and accept payments both online and offline.
The product range of the company includes the following
- Online Checkout for E-commerce Merchants: Enables merchants to accept payments through all major modes, including UPI, wallets, cards, and pay-later options.
- Scan and Pay with Kwik QRs: This feature allows retail merchant partners to accept payments via UPI, wallets, cards, and pay-later options using QR codes.
- MobiKwik Vibe (Soundbox): A QR-enabled device that announces payment confirmations for merchants, enhancing the customer experience.
- MobiKwik EDC Machine: A point-of-sale terminal that allows merchants to accept all in-person payment modes, including credit cards, debit cards, and UPI.
- Merchant Cash Advance: A flagship credit product that provides accessible, affordable credit to merchants using the company's payment solutions for their business needs.
MobiKwik ZIP is a flagship product that lets consumers buy now and pay later within 30 days, offering flexibility and easy repayment options.
As of June 30, 2024, the company has 226 permanent employees in its technology function.
As of December 2024, the company had obtained 19 registered trademarks and had applied for 11 trademark applications under the Trade Mark Act of 1999.
Competitive Strengths:
- Empowering Journeys through the Company's legacy of providing a positive and sustainable consumer experience
- Efficient operational management of loan products distributed by them.
- The trust in their brand
- Technology and product first approach to business
MobiKwik IPO
IPO Overview and Key Highlights
One MobiKwik Systems, a leading digital payments platform in India, is offering its Initial Public Offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to ?5,720 million. This IPO aims to raise funds to support growth initiatives, reduce debt, and enhance the company’s technological infrastructure. The shares will be listed on the NSE and BSE.
Key IPO Details
- Type of Issue: 100% Book Built Issue
- Offer Size: ?5,720 million
- Face Value: ?2 per equity share
- Offer Opens: December 11, 2024
- Offer Closes: December 13, 2024
- Listing Exchange: NSE and BSE
Company Overview
Established in 2008, MobiKwik is a pioneer in digital payments, offering services such as mobile wallets, Buy Now Pay Later (BNPL), credit cards, and financial services. The company is backed by experienced promoters, including Bipin Preet Singh and Upasana Taku, who have driven its innovation and customer-focused approach?.
Financial Overview
MobiKwik has shown substantial growth, with a strong focus on expanding its user base and diversifying its financial product offerings. The IPO proceeds will be used to strengthen the company's market position and invest in technological advancements.
Key Strengths of MobiKwik
- Pioneer in Digital Payments: Established brand recognition and first-mover advantage in digital financial services.
- Expanding Financial Offerings: Diversified services including BNPL, digital credit, and investments.
- Experienced Leadership: Founders with extensive experience in technology and business?.
IPO Pros and Cons
Pros
- High-Growth Sector: Increasing digital payments adoption in India.
- Strong Brand Recall: Well-known name with a growing user base.
- Funds for Expansion: Proceeds will enhance operational capacity and technology platforms.
Cons
- Market Dependency: Revenue relies heavily on digital payment transaction volumes.
- Regulatory Challenges: Subject to compliance with fintech and banking regulations.
- First Public Issue: Uncertainty around stock market performance post-listing?.
Risk Factors
Potential investors should consider the following risks:
- Economic Sensitivity: Revenue tied to consumer spending and economic cycles.
- Intense Competition: Competes with other fintech giants and startups in digital payments.
- Operational Challenges: Scaling technology infrastructure to handle user growth?.
Conclusion
The MobiKwik IPO offers a promising investment opportunity in the fast-growing digital payments and fintech sector. With its strong market presence and diversified financial offerings, the company is well-positioned for future growth. However, investors must weigh risks related to market competition, regulatory compliance, and economic conditions before making investment decisions.
FAQs About Mobikwik Ipo
Mobikwik IPO will open on 11 Dec, 2024 and close on 13 Dec, 2024. Investors must apply within this period to participate.
The Mobikwik IPO price band is set between ₹265.00 and ₹279.00 per share. The minimum lot size is 53, requiring an investment of at least ₹14787.00.
The Mobikwik IPO shares are expected to be listed on 18 Dec, 2024, subject to regulatory approvals and final allotment.
You can track your Mobikwik IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Mobikwik IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.