One MobiKwik Systems IPO gets subscribed 20.37X on Day 2; retail investors steal the show
The IPO received bids for 24,18,36,721 shares against 1,18,71,696 shares on offer, data available with the NSE showed.
The initial public offer of fintech firm One MobiKwik Systems Ltd received 20.37X subscriptions on the second day of bidding on Thursday, driven by heavy participation from retail and non-institutional investors.
The IPO received bids for 24,18,36,721 shares against 1,18,71,696 shares on offer, data available with the NSE showed.
The Retail Individual Investors (RIIs) category picked up 64.52x subscriptions, while the quota for non-institutional investors got subscribed 30 times. The Qualified Institutional Buyers (QIBs) portion attracted 84% subscriptions.
On Tuesday, One MobiKwik Systems said it 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.
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 the draft papers due to unfavourable market conditions.
Mobikwik has reduced its IPO size from its earlier plans of Rs 1,900 crore in 2021 to Rs 700 crore in January this year to Rs 572 crore now.
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.
SBI Capital Markets and DAM Capital Advisors Ltd are the book-running lead managers to the offer.
The shares of the company will be listed on the BSE and NSE.
Edited by Jyoti Narayan
