MobiKwik IPO concludes with 119.38 times subscription, retail portion booked 134.67x; check GMP

MobiKwik IPO continues to garner robust subscription.

MobiKwik Systems continues to garner robust public subscription on the final day of bidding on December 13. The Rs 572 crore issue received 119.38 times subscription on Friday, driven by heavy participation from retail and non-institutional investors.

The initial share sale by the fintech firm One MobiKwik Systems Ltd received bids for over 141 crore shares against 1.18 crore shares on offer, data available with the NSE.

Retail Individual Investors (RIIs) part picked up 134.67 times subscription while the quota for non-institutional investors got subscribed 108.95 times. The Qualified Institutional Buyers (QIBs) portion attracted 119.50 times subscription.

Earlier, the issue garnered Rs 257 crore from anchor investors. The Rs 572-crore IPO will conclude on December 13. The company has fixed the price band for the offer at Rs 265-279 per share.

The public issue is entirely a fresh issuance of equity shares worth up to Rs 572 crore with no offer-for-sale (OFS) component.

According to market observers, the shares are commanding a GMP of around 55 percent. Investorgain quoted a grey market premium of Rs 150 in the unofficial market, indicating a listing day gain of 53.76 percent.

The shares of the company will be listed on the BSE and NSE on December 18, while the allotment is likely to take place on December 16.

Founded by Bipin Preet Singh and Upasana Taku, MobiKwik -- the company's flagship application -- provides consumers access to various payment options and financial products in digital credit, investments and insurance.

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