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MobiKwik IPO Subscription Day 1: Mobikwik Systems Limited IPO will open for subscription today; Check key details before investing
MobiKwik IPO Opens Today
MobiKwik IPO Subscription Day 1: The initial public offering (IPO) of Mobikwik Systems Limited will open for subscription today, December 11, 2024, in the Indian primary market. The fintech company has set the price band for the Mobikwik IPO between Rs 265 and Rs 279 per share. The IPO subscription period will run from Wednesday to Friday, December 11 to 13, 2024.
MobiKwik Systems on Tuesday said it has garnered Rs 257 crore from anchor investors ahead of its initial public offering (IPO) . 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.
Mobikwik IPO Price Band: The fintech company has set a price band of Rs 265 to Rs 279 per equity share for the book-built issue.
Mobikwik IPO Opening Date: The Mobikwik IPO subscription will be open from December 11 to 13, 2024, meaning the book-built issue will be available for bidding from Wednesday to Friday.
Mobikwik IPO Size: The company aims to raise Rs 572 crore through a completely fresh issue of shares.
Mobikwik IPO Lot Size: Bidders can apply in lots, with each lot consisting of 53 shares of the company.
Mobikwik IPO GMP Today: According to stock market observers, the company’s shares are available at a premium of Rs 132 in today’s grey market.
The Grey Market Premium (GMP) refers to the unofficial market price of a company’s shares before they are listed on the stock exchanges, typically during an IPO (Initial Public Offering). It reflects the price at which the shares of an upcoming IPO are being traded in the grey market, which is a market that operates outside the formal stock exchanges.
GMP is used by traders and investors to gauge the market sentiment about an IPO. A higher GMP suggests strong demand for the shares and a positive outlook for the listing. Conversely, a low or negative GMP indicates weaker demand and possibly a less favorable listing.
However, it’s important to note that GMP is not an official or regulated metric, and it can fluctuate depending on market conditions and investor sentiment. It’s essentially a speculative figure based on unofficial transactions in the grey market.
Mobikwik IPO Share Allotment Date: The share allotment is most likely to take place on December 14, 2024, Saturday. In case of any delays, the allotment announcement may be made on December 16, 2024.
Mobikwik IPO Objective: The company plans to use the proceeds as follows: Rs 150 crore will be allocated for organic growth in its financial services business, Rs 107 crore for research and development in artificial intelligence, machine learning, and technology, and Rs 135 crore to expand its payment services. Additionally, Rs 70.2 crore will be used for capital expenditure on payment devices and for general corporate purposes.
SBI Capital Markets and DAM Capital Advisors are the public offer’s book-running lead managers, while Link Intime India is the registrar.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
