Mon Dec 16 05:50:11 UTC 2024: ## Mobikwik IPO Overwhelmingly Oversubscribed; Listing Expected Wednesday
**Mumbai, India – December 16, 2024** – Mobikwik Systems Limited’s Initial Public Offering (IPO) concluded yesterday with a phenomenal response from investors, closing 119.38 times oversubscribed. The IPO, one of three open last week, attracted the highest level of interest, with retail investors leading the charge at 134.67 times oversubscription. Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) also showed strong interest, subscribing 119.50 and 108.95 times, respectively.
Share allotment will be finalized today, December 16th. Investors can check their allotment status online via the Bombay Stock Exchange (BSE) website or the Link Intime India Private Ltd website using their application number and PAN card. Successful applicants will see shares credited to their demat accounts tomorrow, December 17th.
Mobikwik is slated to debut on the BSE and NSE on Wednesday, December 18th. The grey market premium (GMP) currently stands at Rs 156, suggesting a potential listing price of Rs 435 (adding the GMP to the upper price band of Rs 279). This indicates a possible gain of around 55.91% for investors. However, it’s crucial to remember that the GMP is not a guaranteed indicator of future stock performance. The strong GMP reflects significant investor confidence in the fintech company’s prospects.
First Piper 