Mon Dec 16 11:31:58 UTC 2024: ## MobiKwik IPO Oversubscribed by 119 Times on Final Day

**MUMBAI, December 13, 2024** – The initial public offering (IPO) of fintech company One Mobikwik Systems concluded today, significantly oversubscribed by a massive 119.38 times. The IPO, which opened on December 11th, aimed to raise ₹572 crore at the upper end of its price band (₹265-₹279 per share).

The strong demand was evident across investor categories. Retail investors oversubscribed their portion by 134.67 times, while Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) subscribed 119.50 and 108.95 times, respectively. This translates to bids for 141,72,86,992 shares against the 1.18 crore shares on offer.

MobiKwik, boasting 161.03 million registered users and 4.26 million merchant partners as of June 30, 2024, showcased impressive growth metrics. Its Payment GMV grew at a 45.88% annual rate, while MobiKwik ZIP GMV (Disbursements) saw a remarkable 112.16% annual growth from FY2022 to FY2024. The company also achieved profitability at both EBITDA and PAT levels in FY24, with revenue reaching ₹875 crore.

Analysts highlighted the company’s strong brand recognition, low customer acquisition cost, and expansion into wealth management, with Assets Under Administration (AUA) soaring from ₹323.68 crore in FY22 to ₹6,692.85 crore by June 30, 2024. Several brokerage firms issued positive recommendations, citing attractive valuations and the company’s growth potential in India’s expanding fintech market. The grey market premium (GMP) for MobiKwik shares reached ₹158, indicating a strong investor sentiment. The allotment is expected on December 16th, with listing likely on December 18th.

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