Tue Dec 17 01:49:30 UTC 2024: **MobiKwik IPO Overwhelmingly Subscribed, Allotment Completed**

**Mumbai, India – December 17, 2024** – MobiKwik Systems Ltd.’s initial public offering (IPO), which closed on December 13th, has concluded with a remarkably high subscription rate of 125.69 times. Allotment of shares has been finalized, and investors are now receiving confirmation via bank debit messages. The IPO, which offered shares priced between Rs 265 and Rs 279, raised Rs 572 crore through the sale of fresh equity shares. A further Rs 257 crore was raised from anchor investors prior to the IPO.

The strong demand was evident across all investor categories: retail investors subscribed 141.78 times, non-institutional investors 114.7 times, and qualified institutional buyers 125.82 times. This overwhelming response has fueled a significant grey market premium (GMP) with unlisted shares trading at Rs 444, a 59.14% premium over the upper price band.

Investors can check their allotment status on the BSE and NSE websites, as well as on Link Intime’s portal (links provided in the original article). Refunds for unsuccessful applicants began on December 17th, with shares credited to successful applicants’ demat accounts on the same day. MobiKwik is scheduled to list on the BSE and NSE on December 18th.

The high subscription rate and strong GMP suggest considerable investor confidence in MobiKwik, a leading fintech company offering digital payments, credit, insurance, and investment services. The company’s strategic reduction of its initial IPO plan from Rs 1,900 crore to Rs 572 crore is seen as a move to align with current market conditions. The successful IPO marks a significant milestone for founders Bipin Preet Singh and Upasana Taku.

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