Mon Dec 16 18:25:15 UTC 2024: ## MobiKwik IPO Overwhelmingly Subscribed, Allotment Announced for Today

**Mumbai, India** – The highly anticipated MobiKwik IPO, which closed on Friday, has been massively oversubscribed, receiving 125.69 times its offer. Allotment of shares is expected to be finalized this evening, December 16th, with successful investors receiving confirmation via bank debit message. Refunds for unsuccessful applicants will begin tomorrow, December 17th. The company is slated to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on December 18th.

The IPO, offering 572 crore rupees worth of fresh equity shares priced between Rs 265 and Rs 279 per share, saw exceptionally strong demand across all investor categories: retail investors subscribed 141.78 times, non-institutional investors 114.7 times, and qualified institutional buyers 125.82 times. This strong demand is further reflected in the grey market premium (GMP), currently at Rs 444 per share – a significant 59.14% premium over the upper price band.

Investors can check their allotment status online through the BSE website (https://www.bseindia.com/investors/appli_check.aspx) or Link Intime’s IPO portal (https://www.linkintime.co.in/Initial_Offer/public-issues.html). The process requires entering the application number or PAN.

Founded by Bipin Preet Singh and Upasana Taku, MobiKwik is a prominent fintech player providing digital payment, credit, insurance, and investment services. The company initially aimed for a much larger IPO but strategically reduced the size to Rs 572 crore, securing Rs 257 crore from anchor investors beforehand. The strong subscription and high GMP suggest significant investor confidence in MobiKwik’s future prospects and potential for substantial listing gains.

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