Mobikwik IPO day 1: GMP, subscription status, review, other details. Apply or not? | Stock Market News

Mobikwik IPO: The initial public offering (IPO) of One Mobikwik Systems Limited has hit the Indian primary market today. Bidding for the public issue will begin from 10:00 AM today and remain open until 5:00 PM on 13th December 2024. The fintech company has fixed the Mobikwik IPO price band at ₹265 to ₹279 per equity share. The company aims to raise ₹572 crore from this public offer, which is entirely fresh. A bidder can apply in lots, and one lot of the Mobikwik IPO will comprise 53 company shares. According to stock market observers, One Mobikwik Systems Limited shares are available in the grey market. They said that Mobikwik shares are available at a premium of ₹132 in the grey market today.

1] Mobikwik IPO GMP today: According to stock market observers, the company’s shares are available at a premium of ₹132 in the grey market today.

2] Mobikwik IPO price band: The fintech company has a fixed price band of the book build issue at ₹265 to ₹279 per equity share.

3] Mobikwik IPO date: The Mobikwik IPO subscription will remain open from 11 to 13 December 2024. This means the book build issue will remain open from Wednesday to Friday.

4] Mobikwik IPO size: The company aims to raise ₹572 crore from this entirely new public issue.

5] Mobikwik IPO lot size: Bidders can apply in lots, and one lot of the public issue will comprise 53 company shares.

6] Mobikwik IPO allotment date: The most likely date of share allotment is Saturday, December 14th, 2024. In case of any delay, the announcement of share allotment can be expected on 16 December 2024.

7] Mobikwik IPO registrar: Link Intime India Private Limited has appointed this public offer’s official registrar.

8] Mobikwik IPO Lead Managers: SBI Capital Markets and DAM Capital Advisors have been appointed lead managers of the public issue.

9] Mobikwik IPO listing date: The book build issue is proposed for listing on the BSE and the NSE. The most likely Mobikwik IPO listing date is 18 December 2024.

Mobikwik IPO: Apply or not?

10] Mobikwik IPO review: Assigning a ‘buy’ tag to Mobikwik IPO, VLA Ambala, Co-founder of Stock Market Today, said, “The digital banking platform Mobikwik Systems Limited has created a buzz in the banking sector with the news of its INR 572 crore IPO. The fintech company has recorded a decent Y-O-Y revenue growth of 59% and a 117% increase in its PAT. While this revenue surge suggests strong financial management, the company’s total borrowings are also rising. According to analysis, its P/E is 113.32 before IPO, which may adjust to -86.75 post-IPO issue. The company plans to use the proceeds from the IPO sale to fund financial and PaymentPayment service growth, invest in data, AI, and machine learning, enhance products and technology, and boost CAPEX. The ₹265 to ₹279 per share price band for this IPO is deemed moderate. Based on these, investors can apply to the Mobikwik IPO.”

BP Equities has also given a ‘subscribe’ tag to Mobikwik IPO, saying, “MobiKwik enables consumers to pay utility bills, such as mobile recharges, electricity, and credit card dues, as well as make purchases at both online and offline merchants, including retail stores and fuel stations. With features like money transfers to phone numbers, UPI IDs, bank accounts, bank balance checks, and QR-based payments via UPI or RuPay credit cards, the platform ensures convenience and accessibility for users. Digital payments are on a growth trajectory, as the value of digital transactions stood at USD 30 trillion in FY24, growing at a CAGR of 19% between FY21 and FY24. The value of transactions is further expected to grow at a CAGR of 22% between FY24 and FY28 to reach USD 60-70 trillion by FY28. At the same time, the value of Mobile Wallet Payments stood at USD 29 billion in FY24 and is expected to grow at a CAGR of 20-25% between FY24 and FY28 to reach USD 65-75 billion by FY28. The company delivered a total income of ₹3,458.29 million on the financial front, demonstrating a CAGR of 28% from FY22 to FY24. PAT stood at Rs.140.79 million, and the EBITDA margin improved from (21.24%) in FY22 to 4.18% in FY24.”

“The company became profitable at the EBITDA and PAT levels in FY24. Further, the company’s PaymentPayment GMV grew at an annual rate of 45.9%, and MobiKwik ZIP GMV (Disbursements) grew at an annual rate of 112.2% between FY22 and FY24. The issue is valued at a P/E of 113x on the upper price band based on FY24 earnings, which is expensive. However, given the company’s strong market presence, improved financial performance, and industry tailwinds, we recommend a “SUBSCRIBE” rating for the issue,” BP Equities adds.

The market capitalization of the Mobikwik IPO is ₹2295.45 crore. In FY24, the fintech company’s revenue grew by around 59% YoY, whereas Profit After Tax (PAT) shot up nearly 117%

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.