Mon Dec 16 06:48:45 UTC 2024: ## Mobikwik IPO Oversubscribed by Over 125 Times

**Mumbai, December 16, 2023** – The initial public offering (IPO) of fintech company Mobikwik has received an overwhelming response from investors, closing over 125 times subscribed. The retail category witnessed the highest subscription level at 141.78 times, while the Qualified Institutional Buyer (QIB) category received 125.82 times the number of bids. The Non-Institutional Investor (NII) category saw a subscription of 114.70 times.

Mobikwik aims to raise ₹572 crore through the IPO by issuing 205,01,792 new shares. No shares were offered for sale (OFS) as part of this IPO. Share allotment is scheduled for December 16th, with shares credited to successful investors’ demat accounts by December 17th. The listing on the BSE and NSE is slated for December 18th.

The grey market is reflecting significant optimism, with Mobikwik shares trading at a 59% premium (₹165) on December 15th. This suggests a potential listing price around ₹444 (₹279 upper price band + ₹165 premium). However, grey market premiums are speculative. Market experts anticipate further increases in the grey market premium before the listing, potentially leading to substantial profits for investors.

Established in 2008, Mobikwik offers a digital payment platform allowing users to link their bank accounts for online transactions, including money transfers, mobile recharges, bill payments, and online shopping.

**Disclaimer:** Investing in the stock market involves risks. Consult a financial expert before making any investment decisions.

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