Tue Dec 10 14:05:55 UTC 2024: ## MobiKwik IPO to List on December 18th

**MUMBAI, December 11, 2024** – Fintech company One MobiKwik Systems Ltd. is launching its initial public offering (IPO) today, with shares priced between Rs 265 and Rs 279. The IPO, consisting entirely of a fresh issue of 2.05 crore equity shares, will be open for subscription until December 13th. Allotment is expected on December 16th, with shares listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on December 18th.

The IPO lot size is 53 shares, and retail investors can apply for up to 13 lots (689 shares) for a maximum bid of Rs 200,000. Ahead of the listing, the IPO is showing strong interest, with a grey market premium (GMP) of 39.78% at the upper price band.

MobiKwik, founded by Bipin Preet Singh and Upasana Taku, offers a range of payment and financial services including digital credit, investments, and insurance. The company boasts approximately 161.03 million registered users and 4.26 million merchants (as of June 30, 2024). However, it faces stiff competition from established players like PhonePe, Paytm, and Airtel Payments Bank.

The company initially aimed for a Rs 700 crore IPO but later reduced the size to Rs 572 crore. Net proceeds will be used to fund growth in financial and payment services, invest in technology and AI, and support capital expenditure for its payment devices business. SBI Capital Markets and Dam Capital Advisors are the book-running lead managers, with Link Intime India serving as the registrar.

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