MobiKwik IPO subscribed nearly 7.31 times on Day 1; retail portion booked nearly 26x

MobiKwik IPO fully subscribed within an hour of opening on Day 1.

MobiKwik IPO Subscription Status Today: One MobiKwik Systems' Rs 572-crore initial public offer (IPO) was fully subscribed within the first hour of the issue opening on December 11, as investors bet on strong growth prospects in India's booming online payments market.

The issue got subscribed 7.31 times on the first day of share sale on Wednesday.

The share sale received bids for 8.67 crore shares against 1.18 crore shares on offer, as per NSE data.

The Retail Individual Investors (RIIs) part got subscribed 26.69 times and non-institutional investors category received 8.97x subscription.

The fintech firm is taking bids from December 11-13 in a price range of Rs 265-279 per share, targeting a valuation of Rs 2,168 crore.

MobiKwik shares are proposed to be listed on both NSE and BSE on December 18 (Wednesday).

MobiKwik IPO GMP Today Price

According to market observers tracking the grey market premium activities, the shares of MobiKwik are commanding a GMP of around 50 percent in the unofficial market. Investorgain quoted a GMP of Rs 136 over the IPO price of MobiKwik, indicating a listing gain of 48.75 percent.

Earlier, on December 10, the issue garnered Rs 257 crore from anchor investors. Foreign and domestic institutions who participated in the anchor round included Government Pension Fund (Norges Fund), Eastspring Investments, Morgan Stanley Investments, White Oak Capital, 360 One Asset & Wealth Management, HDFC Mutual Fund (MF), Axis MF, SBI MF and SBI General Insurance, according to a circular uploaded on BSE's website.

According to the circular, MobiKwik has decided to allocate 92.26 lakh equity shares to 21 funds at Rs 279 apiece, which is also the upper end of the price band. This translates into the transaction size to Rs 257.4 crore.

The company, which counts non-bank lender Bajaj Finance, Peak XV and Abu Dhabi Investment Authority as existing shareholders, is selling only new shares in the IPO.

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