Mon Dec 16 06:29:53 UTC 2024: ## MobiKwik IPO Overwhelmingly Subscribed, Poised for Strong Market Debut

**Gurugram, India (December 16, 2024)** – MobiKwik’s initial public offering (IPO) concluded with phenomenal success, exceeding expectations with a 125.69 times subscription rate. The IPO, which closed on December 13th, saw 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.

Priced between Rs 265 and Rs 279 per share, the IPO raised Rs 572 crore in fresh equity. This is MobiKwik’s third attempt at an IPO, significantly smaller than its initially planned Rs 1,900 crore offering. The company secured an additional Rs 257 crore from anchor investors prior to the IPO launch.

The allotment of shares will be finalized this evening, December 16th. Investors can check their allotment status on the BSE website (https://www.bseindia.com/investors/appli_check.aspx) or Link Intime’s portal (https://www.linkintime.co.in/Initial_Offer/public-issues.html). Shares are scheduled to list on the BSE and NSE on December 18th.

Market enthusiasm for MobiKwik is high, with unlisted shares currently trading at Rs 444, a 59.14% premium over the upper price band. This Grey Market Premium (GMP) suggests a strong market debut is anticipated.

SBI Capital Markets and DAM Capital Advisors Ltd acted as book-running lead managers for the IPO. MobiKwik, founded by Bipin Preet Singh and Upasana Taku, offers a range of financial services including digital payments, credit, investments, and insurance through its app. The company’s successful IPO marks a significant milestone in India’s growing fintech sector.

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