Mon Dec 16 14:57:25 UTC 2024: ## Mobikwik IPO Allotment Announced: Overwhelming Response, Listing Expected December 18th

**MUMBAI, INDIA** – The allotment of Mobikwik’s Initial Public Offering (IPO) has been announced today, December 16th, 2024. The digital e-wallet company aimed to raise ₹572 crore (approximately $69 million USD) through the IPO, which was oversubscribed by approximately 125 times, receiving bids exceeding ₹395 crore (approximately $48 billion USD). The IPO opened for subscription on December 11th and closed on December 13th.

Investors who applied can check their allotment status online through the National Stock Exchange of India (NSE), the Bombay Stock Exchange (BSE), or Link Intime India, the registrar for the IPO. Step-by-step instructions for checking allotment status on these platforms are available.

Shares are currently trading at a 60% premium in the grey market, suggesting a potentially strong market debut. Mobikwik shares are expected to be listed on the stock exchanges on December 18th. The IPO price band was set between ₹265 and ₹279 per equity share. Refunds for unsuccessful applicants will be initiated on December 17th, while successful applicants will see shares credited to their demat accounts on the same day.

Geojit Financial Services has given the IPO a “subscribe” rating for long-term investment, citing Mobikwik’s strong brand recall, diversified product offerings, rapid scaling, consistent innovation, customer stickiness, and a favorable industry outlook. Despite the impressive oversubscription, the valuation remains a point of consideration for investors.

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