MobiKwik IPO

About Mobikwik IPO

Mobikwik IPO is a book-built issue worth ₹572 crore, featuring a fresh issue of 2.05 crore shares. This much-anticipated IPO opens for subscription on December 11, 2024, and closes on December 13, 2024. Mobikwik IPO share allotment is expected to be finalised on December 16, 2024, with a tentative listing date of December 18, 2024, on the BSE and NSE.

The price band for Mobikwik IPO is set at ₹265 to ₹279 per share. Retail investors can apply for a minimum lot size of 53 shares, requiring a minimum investment of ₹14,787. For small Non-Institutional Investors (sNII), the minimum investment is 14 lots (742 shares), amounting to ₹2,07,018. For big Non-Institutional Investors (bNII), the minimum is 68 lots (3,604 shares), requiring ₹1,005,516.

SBI Capital Markets Limited and Dam Capital Advisors Ltd are the lead managers for the IPO, while Link Intime India Private Ltd serves as the registrar. Investors are encouraged to review the Mobikwik IPO Red Herring Prospectus (RHP) for comprehensive details on the offering.

Industry Outlook

1. India’s consumer internet economy is projected to surpass USD 600 billion by FY28, driven by online retail, edtech, fintech, gaming, and travel. This presents a significant growth opportunity for digital payment platforms like Mobikwik to tap into an expanding user base.
2. By FY28, ~90% of merchants in India are expected to adopt digital payment solutions, up from the current surge in adoption. This shift is driven by increased convenience, reduced costs, and improved transaction security, which aligns with Mobikwik’s focus on providing seamless digital payment solutions.

Mobikwik IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. The funds will be used to boost financial services growth that will enhance capital adequacy for default loss guarantees.
2. ₹1,350 million will be allotted for scaling payment services business.
3. ₹1,070 million will be allocated for recruiting skilled personnel and advancing data, machine learning (ML), artificial intelligence (AI), and product development.
4. ₹702.85 million will fund POS machines and soundboxes, strengthening merchant networks and enabling financial product offerings like merchant loans.
5. The remaining funds will be allocated for general corporate purposes.

About One Mobikwik Systems Limited 

One Mobikwik Systems Limited, founded in March 2008 by, is a prominent fintech company offering digital wallets, payment solutions, and financial services. The company aims to leverage technology to enhance financial inclusion for underserved populations in India. With a platform-based approach, Mobikwik connects 161.03 million registered users and 4.26 million merchants as of June 30, 2024, enabling seamless online and offline transactions.

The Mobikwik application provides consumers with diverse payment options, including UPI, Mobikwik Wallet, and co-branded credit cards. Users can pay utility bills, make e-commerce purchases, shop at retail stores, and transfer money. Unique features like Pocket UPI allow payments through the wallet without linking a bank account.

The company also offers credit products like MobiKwik ZIP, a pay-later facility with a 30-day interest-free credit line, and ZIP EMI for installment-based personal loans. Its investment products include mutual funds, digital gold, fixed deposits, and peer-to-peer lending. Advanced tools like Lens provide personalised financial insights, enhancing the user experience.

Merchant-focused solutions include digital payment acceptance through POS devices and soundboxes, fostering financial inclusion across Tier 2+ cities, small retailers, and large chains.

Peer Details

According to RHP, One 97 Communications Limited is the only listed peer of One Mobikwik Systems Limited.

How To Check the Allotment Status of Mobikwik IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

How to apply for Mobikwik IPO online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the One Mobikwik Systems IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.

Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Mobikwik IPO 

Registered office: Unit 102, 1st Floor, Block-B, Pegasus One, Golf Course Road, Sector-53, Gurugram, Haryana-122003, India

Phone:+91 (124) 490 3344

E-mail:  ipo@mobikwik.com

Mobikwik IPO Reservation

Mobikwik IPO Lot Size

Mobikwik IPO Promoter Holding

The company is promoted by Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust, and Narinder Singh Family Trust.

Key Performance Indicators for Mobikwik IPO

Mobikwik IPO Anchor Investors Details

Mobikwik has secured ₹257.40 crore from anchor investors ahead of its IPO. The anchor bidding for the Mobikwik IPO took place on December 10, 2024.

Mobikwik IPO Prospectus

• One Mobikwik Systems IPO RHP
• One Mobikwik Systems IPO DRHP

Mobikwik IPO Registrar and Lead Managers

Mobikwik IPO Book Running and Lead Managers

• SBI Capital Markets Limited (Past IPO Performance)
• Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) 

Registrar for Mobikwik IPO

Link Intime India Private Ltd

• Contact Number: +91-22-4918 6270
• Email Address: ipo.helpdesk@linkintime.co.in

Website: One Mobikwik Systems IPO Registrar