Mobikwik, a leading fintech company, is set to launch its Initial Public Offering (IPO) to raise ₹572 crore. The issue, entirely a fresh issue, will consist of 2.05 crore shares. The IPO will open for subscription on December 11, 2024, and close on December 13, 2024. The tentative listing date for Mobikwik shares on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) is December 18, 2024.
Mobikwik IPO: Key Details
| Particulars | Details |
|---|---|
| IPO Date | December 11, 2024 – December 13, 2024 |
| Listing Date | December 18, 2024 |
| Face Value | ₹2 per share |
| Price Band | ₹265 to ₹279 per share |
| Lot Size | 53 Shares |
| Total Issue Size | ₹572 Crore (2.05 Crore shares) |
| Issue Type | Book Built Issue |
| Listing At | BSE, NSE |
| Pre-IPO Shareholding | 57,184,521 shares |
| Post-IPO Shareholding | 77,686,313 shares |
*The face value of a share is its original value, set by the company, like ₹2, and shows the basic worth of the share. The price band is the range of prices, like ₹265 to ₹279, at which the shares will be sold during the IPO, based on what the company thinks is fair for investors.
Mobikwik IPO Tentative Timeline
The IPO process will follow this tentative timeline:
| Event | Date |
|---|---|
| IPO Opening Date | December 11, 2024 |
| IPO Closing Date | December 13, 2024 |
| Basis of Allotment Finalization | December 16, 2024 |
| Initiation of Refunds | December 17, 2024 |
| Credit of Shares to Demat | December 17, 2024 |
| Listing Date | December 18, 2024 |
| Cut-off Time for UPI Mandate Confirmation | 5 PM on December 13, 2024 |
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Mobikwik IPO Reservation Breakdown
The Mobikwik IPO allocation is reserved as follows:
| Investor Category | Shares Offered |
|---|---|
| Qualified Institutional Buyers (QIBs) | Minimum 75% of the Net Issue |
| Retail Investors | Maximum 10% of the Net Issue |
| Non-Institutional Investors (NII) | Maximum 15% of the Net Issue |
Mobikwik IPO Investment Lot Sizes
For retail and high-net-worth individuals (HNIs), the investment structure is as follows:
| Application Type | Lot Size (Shares) | Amount (₹) |
|---|---|---|
| Retail Investors (Min) | 53 (1) | ₹14,787 |
| Retail Investors (Max) | 689 (13) | ₹192,231 |
| S-HNI Investors (Min) | 742 (14) | ₹207,018 |
| S-HNI Investors (Max) | 3,551 (67) | ₹990,729 |
| B-HNI Investors (Min) | 3,604 (68) | ₹1,005,516 |
About Mobikwik
Founded in 2008, Mobikwik is a leading fintech company in India that provides prepaid digital wallets and payment services. Mobikwik enables consumers to pay utility bills, make purchases, transfer money, and check bank balances. It also offers innovative products such as:
- MobiKwik ZIP: A buy now, pay later service.
- Merchant Cash Advance: A credit product for merchants.
- MobiKwik Soundbox & EDC Machines: Devices to improve merchant payment experiences.
- QR Payment Solutions: Enabling retail merchants to accept payments through UPI and wallets.
As of June 2024, Mobikwik has over 161 million registered users and serves over 4.26 million merchants. The company is positioned as one of India’s most trusted fintech brands.
Financial Overview
The company’s revenue has grown significantly, with a 59% increase in FY 2023-2024, and a 117% rise in profit after tax (PAT) from FY 2022-2023. Below are key financial figures:
| Period | Revenue (₹ Crore) | Profit After Tax (₹ Crore) |
|---|---|---|
| June 2024 | 345.83 | -6.62 |
| March 2024 | 890.32 | 14.08 |
| March 2023 | 561.12 | -83.81 |
| March 2022 | 543.22 | -128.16 |
IPO Objectives
The funds raised from the Mobikwik IPO will be used to:
- General corporate purposes.
- Expand its financial services business.
- Grow its payment services business.
- Invest in data, machine learning, artificial intelligence, and technology.
- Capex for payment devices business.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice or an endorsement of any IPO or investment opportunity. While we strive to ensure the accuracy of the details shared, the content is based on publicly available information, research, and reports from credible sources. Readers are advised to verify the details independently and consult with a financial advisor before making any investment decisions.Stay informed and exercise caution while making financial decisions.
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