About Company
Mobikwik IPO to hit markets on Dec 11.The company’s flagship app MobiKwik offers consumers access to various payment options and financial products across digital credit, investments, and insurance. The company was founded in 2009 by Bipin Preet Singh and Upasana Taku. This is the second attempt at a public issue by the Gurugram-based firm after its first attempt in July 2021. Earlier, the company had shelved its IPO plans and withdrawn its draft papers due to adverse market conditions.
MobiKwik, one of India’s leading digital payments platforms, has announced its intention to go public via an initial public offering (IPO). This IPO is important for the company and is being closely watched by investors, analysts, and fintech industry stakeholders
Table of Contents
MobiKwik is a digital financial services company that offers a variety of products and services, including:
- Payments: MobiKwik’s digital wallet allows users to load money and make payments.
- Loans: MobiKwik offers a Buy Now Pay Later (BNPL) credit called ZIP, as well as personal loans through ZIP EMI.
- Insurance: MobiKwik offers accident, life, and fire insurance.
- Mutual funds: MobiKwik offers mutual funds.
- Bill payments: MobiKwik allows users to pay credit card bills and DTH recharges.
- Money transfers: MobiKwik allows users to send and receive money via a mobile app.
MobiKwik IPO GMP surged 40% ahead of launch this week.
The MobiKwik IPO will open for subscription on December 11, 2024, and close on December 13, 2024. The IPO will issue shares priced between ₹265 and ₹279 per share, with a minimum lot size of 53 shares, which works out to approximately ₹14,787 per lot. Retail investors can bid for up to 13 lots, which will amount to approximately ₹1,92,231.
MobiKwik is facing stiff competition from major competitors including Airtel Payments Bank, Phonepe , Paytm and FreeCharge.
- Key details:
– Issue size: ₹572 crore, entirely fresh issue (no offer for sale component).
– Listing date: Shares are expected to be on BSE and NSE on December 18, 2024.
– Allocation: 75% to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs) and 10% to retail investors.
– Registrar: Link Intime India Pvt Ltd.
– Lead Managers: SBI Capital Markets and DAM Capital Advisors.
- Financial Highlights:
– Revenue for FY24 was ₹890.32 crore, showing a significant increase from ₹561.12 crore in FY23.
– Net profit for FY24 was ₹14.08 crore, a significant improvement from the loss of ₹83.81 crore in FY23.
- Objectives of the IPO:
The funds raised will be used for the below options:
1. General corporate purposes.
2. Capital expenditure for payment instruments.
3. Investing in AI, ML and technology.
4. Expanding financial and payment services businesses.
If you are interested, you can apply through ASBA through your bank or stockbroker.