Tue Dec 17 00:57:12 UTC 2024: **Mobikwik IPO Allotment Finalized; Shares to Debut on Wednesday**

MUMBAI, INDIA – December 16, 2024 – Mobikwik’s initial public offering (IPO), which closed on December 13th, has finalized its allotment today. The ₹572 crore (approximately US$69 million) IPO, comprising a fresh issue of 2.05 crore equity shares priced between ₹265 and ₹279 per share, was significantly oversubscribed at 119.38 times.

The allotment details are now available on the BSE, NSE, and Link Intime India websites. Shares will be credited to Demat accounts on December 17th, with listing on the BSE and NSE scheduled for December 18th.

Mobikwik, a fintech company offering digital wallets and online payment services, saw strong participation from all investor categories. Retail investors subscribed over 141.78 times, Non-Institutional Investors (NIIs) 114.7 times, and Qualified Institutional Buyers (QIBs) 125.82 times. Despite reporting losses in recent quarters, the IPO attracted significant interest. The company’s revenue has shown significant growth, with a 59% increase from FY23 to FY24. The grey market premium (GMP) currently indicates a significant premium over the IPO price.

The proceeds from the IPO will be used to fund growth in financial and payment services, invest in technology (including AI and ML), and for general corporate purposes. Mobikwik’s debut will be one of several IPO listings on December 18th, creating considerable market buzz. The company’s addressable market is projected to grow substantially in the coming years.

**Note:** The Lubrizol information included in the original text is unrelated to the Mobikwik IPO and has been omitted from this news article.

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