Mon Dec 16 22:46:54 UTC 2024: ## MobiKwik IPO Overwhelmingly Subscribed, Allotment Finalized

**Mumbai, India – December 17, 2024** – MobiKwik’s initial public offering (IPO), which closed last week, has been significantly oversubscribed, with allotments finalized and investors receiving bank debit messages. The IPO, which raised ₹572 crore (approximately $70 million USD) through the sale of fresh equity shares, saw a remarkable 125.69 times overall subscription. Retail investors alone subscribed 141.78 times, while Non-Institutional Investors and Qualified Institutional Buyers subscribed 114.7 and 125.82 times, respectively.

The IPO, priced between ₹265 and ₹279 per share, was significantly smaller than initial plans, reflecting a strategic adjustment to current market conditions. Anchor investors contributed ₹257 crore before the IPO opened.

The strong investor interest is further reflected in the grey market premium (GMP), which currently sits at ₹444 per share – a ₹165 premium (59.14%) over the upper price band. This suggests significant optimism surrounding MobiKwik’s market debut.

Investors can now check their allotment status on the BSE and NSE websites, as well as Link Intime’s portal. Shares are expected to be credited to Demat accounts today, with the official listing on the BSE and NSE scheduled for December 18th.

MobiKwik, founded by Bipin Preet Singh and Upasana Taku, is a prominent fintech company providing digital payment, credit, insurance, and investment services. The company’s successful IPO, despite scaling down its initial plans, demonstrates a strategic focus on sustainable growth and market leadership. The high subscription rate and strong GMP indicate considerable investor confidence in MobiKwik’s future prospects.

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