MobiKwik IPO subscription status: MobiKwik’s highly anticipated Rs 572-crore Initial Public Offering (IPO) witnessed extraordinary investor enthusiasm on its opening day, with the retail portion being oversubscribed by 10 times within hours of launch on December 11, 2023.
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MobiKwik IPO Key Highlights:
- Overall subscription reached 1.92x by 11:30 AM on Day 1
- Retail investors portion oversubscribed 8.13x
- Non-institutional investors segment saw 1.63x subscription
- Grey Market Premium indicates potential 50% listing gains
- Anchor investors including global funds contributed Rs 257 crore
The fintech major’s public issue, priced between Rs 265-279 per share, aims for a Rs 2,168 crore valuation. The subscription window remains open until December 13, with shares scheduled to list on both NSE and BSE by December 18.
Institutional Backing
The IPO received strong support from prestigious institutional investors, including:
- Government Pension Fund (Norges Fund)
- Morgan Stanley Investments
- HDFC Mutual Fund
- SBI Mutual Fund
- Eastspring Investments
- White Oak Capital
Market Response
The grey market premium (GMP) is trading at Rs 136 above the issue price, suggesting a robust 48.75% potential listing gain. The company allocated 92.26 lakh equity shares to 21 anchor investors at Rs 279 per share, raising Rs 257.4 crore.
Notable Shareholders
MobiKwik’s prominent existing investors include:
- Bajaj Finance
- Peak XV
- Abu Dhabi Investment Authority
This fresh issue of shares aims to fuel the MobiKwik’s growth in India’s rapidly expanding digital payments market. The strong initial response indicates significant investor confidence in MobiKwik’s business model and growth prospects.
