Mon Dec 16 07:25:53 UTC 2024: ## MobiKwik IPO Oversubscribed by a Massive 119 Times
**MUMBAI, December 14, 2024** – MobiKwik Systems Limited’s initial public offering (IPO) concluded yesterday with phenomenal success, exceeding expectations by a significant margin. The IPO, priced between ₹265 and ₹279 per share, was oversubscribed a staggering 119.38 times. This strong investor response reflects considerable confidence in the digital payments platform.
All investor categories participated enthusiastically. Qualified Institutional Buyers (QIBs) led the charge, oversubscribing their portion by 119.50 times, with Foreign Institutional Investors playing a major role. Retail Individual Investors (RIIs) demonstrated equally strong interest, oversubscribing their allocation by 134.67 times. Even Non-Institutional Investors showed keen interest, with an oversubscription of 108.95 times.
Gaurav Garg, Research Analyst at Lemonn Markets Desk, noted that the fresh issue of ₹572 crore was oversubscribed by an impressive 125.69 times, highlighting significant investor optimism. The high level of oversubscription, particularly in the retail segment, suggests extremely low chances of allotment for individual investors.
The IPO, which opened on December 11th, is now awaiting its listing date. The strong performance indicates a positive outlook for MobiKwik’s future.
First Piper 