Today, December 16, 2024, the much-awaited allotment of shares for Mobikwik Pvt Ltd will be finalized. Issuance of shares comes as a relief for the investors as it is a well-sought-after IPO. The IPO offer went live on the 11th of December extending to the 13th, 2024, however, the interest from investors exceeded expectations with a total subscription of 119.38 times. BSE and Link Intime can share the detailed status of the subscription for interested investors.
MobiKwik Initial Public Offering (IPO) has a lower price range of about ₹265 and a higher price range of approximately ₹279. The IPO was available as a minimum lot size of 53 shares, the issuance was highly grabbed by investors in all regions. The lead was taken by the retail investors, who subscribed for around 134.67 times their allocation, followed by Qualified Institutional Buyers at 119.50. Their subscription was followed closely by Non-Institutional Investors, who bid for 108.95 times as much as they were allowed to.
Out of the blue, Mobikwik shares unlisted began trading well above the grey market price which fueled issues concerning Mobikwik’s IPO. By the 18th of December 2024 when Mobikwik was set to release their shares on the stock market, the investors had already set a price of 444 on the grey market, which was a drastic increase of 59.14% from their upper band pricing of 279. These indicators strongly suggest that the investors have high hopes and faith in Mobikwik for their stock market launch.
As a technology-driven financial services provider with a user base exceeding 161 million and a vast merchant network of 4.26 million, Mobikwik has carved a niche in the competitive digital payments ecosystem. The response to its IPO highlights its market appeal and the trust investors place in its growth potential.
For those eagerly awaiting results, allotment status can be checked via PAN or IPO application numbers on BSE or Link Intime India’s websites. With market sentiments running high, all eyes are now on Mobikwik’s much-anticipated listing later this week.
Mobikwik is an E-financial technology service that boasts a wide consumer base of more than 161 million and a vast merchant network of 4.26 million. It is steadily creating for itself, hence, a claim for recognition within the competitive digital payments ecosystem.The IPO result shows that there is huge market interest and confidence from investors in its growth potential.
Investors awaiting allotment status can check with BSE or Link Intime India via PAN and IPO application numbers.
