Mon Dec 16 10:10:10 UTC 2024: ## MobiKwik IPO Allotment Finalized, Shares to Debut Wednesday
**Mumbai, December 16, 2024** – The allotment of shares for the MobiKwik Initial Public Offering (IPO) has been finalized today. The ₹572 crore IPO, which closed on December 13th after being oversubscribed 119.38 times, will see its shares list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, December 18th.
The IPO, consisting entirely of a fresh issue of 2.05 crore equity shares, was priced between ₹265 and ₹279 per share. Investors can check their allotment status on the websites of BSE, NSE, or Link Intime India, the registrar for the issue. The grey market premium (GMP) currently indicates a significant surge, with shares trading at ₹444, a 59.14% increase over the upper price band.
MobiKwik, a fintech company founded in 2008, offers digital wallet and payment services. The company’s financial performance shows revenue growth of 59% and profit after tax (PAT) growth of 117% from FY23 to FY24. While it reported losses in previous years, it recorded a profit of ₹14.08 crore in FY24 and a smaller loss in Q1 FY25. Analysts project significant market growth for MobiKwik in the coming years, driven by increased digital adoption in India.
Lead managers for the IPO are SBI Capital Markets and Dam Capital Advisors. Promoters include Bipin Preet Singh, Upasana Rupkrishan Taku, and family trusts. MobiKwik’s debut coincides with several other IPO listings on December 18th, making it a busy week for the Indian stock market. The unrelated reappointment of RBL Bank’s CEO, R Subramaniakumar, for a three-year term was also announced.
First Piper 