Mobikwik IPO GMP surges to 40% ahead of subscription this week - Key details

Mobikwik IPO to hit markets on Dec 11.

Mobikwik IPO GMP has surged to almost 40 percent as the subscription to Rs 572 crore issue is set to begin this week on December 11 in the primary market.

The issue will end on December 13, while the bidding for anchor portion will open for a day on December 10. The price band has been fixed at Rs 265-279 per equity share.

According to market observers tracking the grey market premium activities, the shares of Peak XV and ADIA-backed One MobiKwik Systems on Monday are commanding a GMP in the price range of Rs 111-120 in the unofficial market. According to these early trends by IPO Watch and Investorgain, the shares could list at a premium of around 40 percent.

It's better to bring it at a price we can justify for everyone: Mobikwik CEO on IPO valuation

In January, the company filed for a Rs 700-crore IPO. Later, it cut the size of the IPO to Rs 572 crore.

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This is the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021. Earlier, the company shelved its IPO plans and withdrew its draft papers due to unfavourable market conditions.

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

The company faces stiff competition from major players, including PhonePe, Paytm, Airtel Payments Bank and Freecharge.

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