Subscribe for One Mobikwik Systems Ltd IPO; Anand Rathi

Anand Rathi, has come out with its report on One Mobikwik Systems Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on December 10 2024.

Broker Research

December 11, 2024 / 10:44 IST

IPO

Anand Rathi, One Mobikwik Systems Ltd

One Mobikwik Systems Limited was founded by Bipin Preet Singh and Upasana Taku, who have prior experience in building scalable technology and financial products at their previous organisations. The company’s aim is to leverage technology as the primary factor to facilitate financial inclusion for the underserved population in India. They are a platform business at its core, that has a two-sided payments network, consisting of consumers and merchants. The company has acquired 161.03 million Registered Users and enabled 4.26 million Merchants to make and accept payments online and offline, as of June 30, 2024. The usefulness of their platform for new and existing consumers increases, as they add newer products to their digital credit, investments, and insurance verticals. As they continue to expand the portfolio of products under these verticals, they believe they can transform the platform into an increasingly compelling offering for their consumers while simultaneously enhancing its profitability and value. As a result, they have achieved Profit /(loss) for the year ended March 31, 2024, amounting to ₹ 140.79 million.

Valuation and Outlook

However, it reported losses for Q1 FY25 due to prefunding cost adjustment provisions. We believe that the issue is richly priced and recommend “Subscribe – Long Term” rating to the IPO.

For all IPO report, click here