The Mobikwik IPO price band is set at ₹265 to ₹279 per share, with a minimum lot size of 53 shares. Retail investors will need to invest at least ₹14,787, while the minimum investment for small Non-Institutional Investors (sNII) is 14 lots (742 shares), amounting to ₹207,018. For big Non-Institutional Investors (bNII), the minimum investment is 68 lots (3,604 shares), requiring an investment of ₹1,005,516.
The Mobikwik IPO is a book-built issue with a total size of ₹572 crores, comprising an entirely fresh issue of 2.05 crore equity shares. The IPO opens for subscription on December 11, 2024, and closes on December 13, 2024. The allotment of shares is expected to be finalized on Monday, December 16, 2024, with the company’s shares scheduled to list on BSE and NSE on Wednesday, December 18, 2024.
The allocation quotas for the Mobikwik IPO are divided as follows: Retail investors are allotted not more than 10%, Qualified Institutional Buyers (QIBs) are allotted not more than 75%, and Non-Institutional Investors (NIIs) are allotted not more than 15%.
This structured breakdown ensures investors can clearly understand the subscription and investment requirements for the upcoming Mobikwik IPO.
Overview of Contents
About Mobikwik Company
Established in 2009 and founded by Bipin Preet Singh and Upasana Taku, Mobikwik is a leading fintech company in India, revolutionizing the future of finance with its wide range of digital banking services. The company offers a variety of payment services, enabling consumers to pay utility bills, such as mobile recharges, electricity, and credit card bills, make purchases at online and offline merchants, transfer money to phone numbers, UPI IDs, or bank accounts, check bank balances, and scan QR codes for payments using UPI or Rupay credit cards.
Mobikwik has also introduced innovative products like MobiKwik ZIP and ZIP EMI for consumers, helping them manage payments and access quick digital credit. As a digital banking platform, Mobikwik provides secure payment solutions, investment opportunities, and more, making financial transactions faster, smarter, and more accessible. With a commitment to expanding its product portfolio, the company continues to offer new services in digital credit, investments, and insurance, aiming to add value to both new and existing customers.
Mobikwik’s focus on innovation and customer-centric solutions has driven its growth, with the company reporting a profit of ₹94.78 million for the six months ending on September 30, 2023. With a vision to simplify money management, Mobikwik remains at the forefront of India’s digital finance landscape.
Mobikwik IPO Details
| Details | Information |
|---|---|
| IPO Date | December 11, 2024, to December 13, 2024 |
| Listing Date | December 18, 2024 (Tentative) |
| Face Value | ₹2 per share |
| Price Band | ₹265 to ₹279 per share |
| Lot Size | 53 Shares |
| Minimum Investment (Retail) | ₹14,787 (1 lot) |
| Minimum Investment (sNII) | ₹207,018 (14 lots) |
| Minimum Investment (bNII) | ₹1,005,516 (68 lots) |
| Total Issue Size | 20,501,792 shares (aggregating up to ₹572.00 Cr) |
| Fresh Issue | 20,501,792 shares (aggregating up to ₹572.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Pre-Issue Shareholding | 57,184,521 shares |
| Post-Issue Shareholding | 77,686,313 shares |
| Retail Quota | Not more than 10% |
| QIB Quota | Not more than 75% |
| NII Quota | Not more than 15% |
| Allotment Date | December 16, 2024 |
| Strengths | Established fintech brand with diversified offerings. |
| Risks | Competition in the digital payment ecosystem. |
Mobikwik IPO Schedule
| Event | Date and Details |
|---|---|
| IPO Open Date | Wednesday, December 11, 2024 |
| IPO Close Date | Friday, December 13, 2024 |
| Cut-off Time for UPI Mandate | 5:00 PM on Friday, December 13, 2024 |
| Basis of Allotment Finalization | Monday, December 16, 2024 |
| Initiation of Refunds | Tuesday, December 17, 2024 |
| Credit of Shares to Demat Accounts | Tuesday, December 17, 2024 |
| Listing Date | Wednesday, December 18, 2024 |
| Lot Size | 53 Shares |
| Minimum Investment | ₹14,787 per lot for retail investors |
| Price Band | ₹265 to ₹279 per share |
| Issue Type | Book Built Issue IPO |
| Listing Platforms | BSE, NSE |
| Strength of the Company | Strong digital payments brand with a growing customer base. |
| Risk Factors | High competition in the fintech space and regulatory risks. |
Mobikwik IPO Lot Size
| Category | Lots | Shares | Investment Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,787 |
| Retail (Max) | 13 | 689 | ₹192,231 |
| S-HNI (Min) | 14 | 742 | ₹207,018 |
| S-HNI (Max) | 67 | 3,551 | ₹990,729 |
| B-HNI (Min) | 68 | 3,604 | ₹1,005,516 |
Key Highlights for Investors:
- Retail Investors: Can bid for up to 13 lots, amounting to ₹192,231.
- S-HNI Category: Minimum investment begins at ₹207,018 for 14 lots.
- B-HNI Category: Requires a minimum bid of 68 lots, translating to an investment of ₹1,005,516.
- The IPO is book-built, with a price band of ₹265-₹279 per share, and the lot size is 53 shares.
Mobikwik IPO Promoter Holding
The promoters of Mobikwik IPO include Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust, and Narinder Singh Family Trust. Together, these promoters hold a 32.96% stake in the company prior to the issue. This significant holding reflects their deep involvement in the company’s operations and strategic direction. The IPO will provide an opportunity for the company to expand its reach while offering new investors a chance to participate in its growth story.
Mobikwik IPO: Company Financial Report
Mobikwik has shown growth in revenue over the past few years, with a notable improvement in its loss figures. The company reported an increase in revenue from ₹526.57 crores in 2022 to ₹539.47 crores in 2023. Additionally, the loss narrowed significantly from ₹128.16 crores in 2022 to ₹83.81 crores in 2023, reflecting the company’s efforts to improve its financial position.
| Period Ended | Revenue (₹ Crores) | Expense (₹ Crores) | Profit After Tax (₹ Crores) | Assets (₹ Crores) |
|---|---|---|---|---|
| 2021 | ₹288.57 | ₹404.07 | ₹111.30 | ₹423.14 |
| 2022 | ₹526.57 | ₹658.63 | ₹128.16 | ₹836.13 |
| 2023 | ₹539.47 | ₹617.04 | ₹83.81 | ₹714.33 |
| September 2023 | ₹381.09 | ₹366.83 | ₹9.48 | ₹687.35 |
Key Highlights:
- Revenue Growth: Mobikwik reported a revenue increase of 2.45% in 2023, from ₹526.57 crores in 2022 to ₹539.47 crores in 2023.
- Reduction in Loss: The loss decreased significantly by 34.5%, from ₹128.16 crores in 2022 to ₹83.81 crores in 2023, indicating better financial management.
- Improved Profitability: In the first half of FY2023, Mobikwik generated a small profit after tax of ₹9.48 crores, indicating a positive shift toward profitability.
- Asset Position: The company’s assets stood at ₹714.33 crores in 2023, showing a decrease from ₹836.13 crores in 2022, primarily due to changes in operational costs.
Mobikwik’s improved revenue and decreasing losses indicate positive momentum as the company continues its journey toward profitability.
Mobikwik IPO: Objects of the Issue
The company aims to utilize the net proceeds from the Mobikwik IPO to support various growth initiatives across its financial services and payment sectors. These objectives are aligned with Mobikwik’s commitment to expanding its product offerings, improving technology, and scaling operations. The table below outlines the key areas where the net proceeds will be allocated:
| Object | Purpose |
|---|---|
| Funding Growth in Financial Services Business | To expand and enhance the company's financial service offerings, including digital credit, insurance, and investment products. |
| Funding Growth in Payment Services Business | To scale up Mobikwik's payment infrastructure and services, aiming for increased adoption across both online and offline merchants. |
| Investment in Data, Machine Learning (ML), AI, Product, and Technology | To strengthen the company's technological capabilities by investing in cutting-edge technologies, enabling smarter payment solutions and product development. |
| Capital Expenditure for Payment Devices Business | To expand and enhance the payment devices business, which includes hardware solutions for merchants to accept digital payments. |
| General Corporate Purposes | To meet general corporate needs, including working capital and other business operations that support long-term growth. |
One Mobikwik Systems Limited Contact Details
Unit 102, 1st Floor, Block-B,
Pegasus One, Golf Course Road,
Sector-53, Gurugram, 122 003
Phone: +91 1244903344
Email: ipo@mobikwik.com
Website:Â https://www.mobikwik.com/ir
Mobikwik Systems IPO Registrar
- Link Intime India Pvt Ltd
- C-101, 1st Floor, 247 Park L.B.S. Marg,
- Vikhroli West, Mumbai – 400 083, Maharashtra
- Phone:Â +91 810 811 4949
- Email:Â mobikwik.ipo@linkintime.co.in
Website:Â www.linkintime.co.in
Strategic Goals
Mobikwik is focusing on driving growth and innovation through technological advancements and product diversification. By investing in AI, machine learning, and data analytics, the company plans to provide more personalized and efficient services to both consumers and merchants. Additionally, the funds allocated to payment services and payment devices will help Mobikwik strengthen its market position as a leading digital payment provider in India.
Mobikwik Systems IPO FAQs
What is the Mobikwik IPO?
Mobikwik is launching an IPO to raise ₹572 crores, offering a fresh issue of 2.05 crore shares. The IPO will be listed on BSE and NSE.
When does the Mobikwik IPO open?
The IPO opens for subscription on December 11, 2024, and closes on December 13, 2024.
What is the price band for the Mobikwik IPO?
The price band for the IPO is set between ₹265 to ₹279 per share.
How many shares can an investor apply for?
Retail investors can apply for a minimum of 53 shares (1 lot), with a maximum of 689 shares (13 lots).
What is the listing date of the Mobikwik IPO?
The IPO is expected to list on the stock exchanges on December 18, 2024.
What is the minimum investment for retail investors?
Retail investors need to invest a minimum of ₹14,787 for 53 shares.
What is the company’s financial performance?
Mobikwik reported a revenue of ₹539.47 crores in 2023, with a loss of ₹83.81 crores. The company is focused on improving profitability and expanding its services.
How will the IPO proceeds be used?
The funds will be used for business growth in financial services, payment services, investment in AI and technology, capital expenditure for payment devices, and general corporate purposes.
Who are the promoters of Mobikwik?
The promoters are Bipin Preet Singh, Upasana Taku, Koshur Family Trust, and Narinder Singh Family Trust.
What is the current shareholding of the promoters?
The promoters hold 32.96% of the company before the IPO.