Mon Dec 16 18:28:55 UTC 2024: ## MobiKwik IPO Oversubscribed 125 Times, Allotment Expected Today

**Mumbai, December 16, 2024** – Fintech company MobiKwik’s initial public offering (IPO), which closed on December 13th, was massively oversubscribed, reaching a subscription rate of 125.69 times. The ₹572 crore (approximately $70 million USD) IPO, consisting entirely of a fresh issue of 2.05 crore equity shares, priced between ₹265 and ₹279 per share.

Allotment of shares is expected to be finalized today, with shares tentatively scheduled to list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Wednesday, December 18th.

MobiKwik, founded in 2008, offers a range of digital payment services including mobile recharges, utility bill payments, online and offline merchant transactions, money transfers, and balance checks. The company plans to utilize the net proceeds from the IPO for various objectives (specific details not yet released). The strong oversubscription indicates significant investor confidence in MobiKwik’s future growth within the burgeoning Indian fintech market.

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