Fri Dec 13 00:58:29 UTC 2024: ## Mobikwik IPO Oversubscribed on Day 2, Trading at Significant Premium in Grey Market

**Mumbai, India** – The initial public offering (IPO) of One Mobikwik Systems Limited, a prominent Indian fintech company, is proving highly popular. The IPO, priced between ₹265 and ₹279 per share, opened on Wednesday, December 11th, 2024, and will close on Friday, December 13th. The company aims to raise ₹572 crore through the offering.

By the end of day two, the IPO was oversubscribed 20.41 times overall. Retail investors showed particularly strong interest, with the retail portion subscribed a remarkable 64.65 times. The Non-Institutional Investors (NII) portion was subscribed 30.07 times, and the Qualified Institutional Buyers (QIB) segment reached 84% subscription.

Adding to the excitement, the grey market premium (GMP) for Mobikwik shares is currently ₹136, indicating strong investor anticipation. One lot of the IPO comprises 53 shares. The share allotment is expected on December 14th, 2024, or at the latest, December 16th, with a listing on the BSE and NSE anticipated for December 18th, 2024. Link Intime India Private Limited is the registrar, and SBI Capital Markets and DAM Capital Advisors are the lead managers.

Analyst opinions are divided but largely positive. While some acknowledge the high P/E ratio (113x on the upper price band), citing concerns about valuation, several brokerage firms, including VLA Ambala, InBP Equities, and Swastika Investmart, have given the IPO a “subscribe” rating. These firms highlight Mobikwik’s strong revenue growth (59% YoY in FY24), improved profitability (achieving profitability at EBITDA and PAT levels in FY24), and the growth potential within the booming Indian digital payments market. They point to the company’s impressive growth in Payment GMV (45.9% annual growth) and Mobikwik ZIP GMV (112.2% annual growth) between FY22 and FY24.

However, potential investors are advised to conduct their own thorough due diligence and consult with financial advisors before making any investment decisions. The market capitalization of the Mobikwik IPO is ₹2,295.45 crore.

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