The Mobikwik IPO saw strong investor interest, with the offering fully subscribed within just 90 minutes of its opening on Wednesday, December 11, 2024. As of 11:21 AM, bids for 1,86,90,026 shares were received, surpassing the 1,18,71,696 shares available, resulting in an oversubscription of 1.57 times. Retail Individual Investors (RIIs) led the demand, subscribing to their reserved portion by 6.65 times, followed by Non-Institutional Investors (NIIs), who subscribed 1.34 times. However, the Qualified Institutional Buyers (QIBs) category received minimal interest, with only 2,968 bids against the 64,75,471 shares reserved.
The strong demand aligns with the grey market trend, where Mobikwik’s unlisted shares were trading at Rs 415, reflecting a 48.75% premium over the upper end of the IPO price band of Rs 279.
The IPO, valued at Rs 572 crore, is priced between Rs 265–279 per share, with a minimum lot size of 53 shares. The subscription window will remain open until Friday, December 13, 2024. The allotment process is expected to conclude on Monday, December 16, 2024, with shares credited to investors’ demat accounts by Tuesday, December 17, 2024. Mobikwik’s shares are expected to list on the BSE and NSE on Wednesday, December 18, 2024.
The IPO has attracted reviews from several brokerage firms, including Bajaj Broking, Swastika Investmart, and Anand Rathi Research.
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