Mobikwik IPO: GMP, price band, other key details of upcoming IPO

The initial public offering (IPO) of fintech company One Mobikwik Systems will open for public subscription this week. Mobikwik IPO is a mainboard IPO which will compete with two other offerings opening on the same day - Vishal Mega Mart IPO and Sai Life Sciences IPO.

The bidding for Mobikwik IPO commences on Wednesday, December 11, and concludes on Friday, December 13. The IPO allotment is expected to be finalised on December 16 and the IPO listing date is likely December 18. Mobikwik shares will be listed on both the stock exchanges - BSE and NSE.

Mobikwik IPO price band has been fixed at ₹265 to ₹279 per share and the IPO lot size is 53 shares. At the upper-end of the price band, the fintech company aims to raise ₹572 crore from the issue which is entirely a fresh issue of 2.05 crore equity shares.

The company proposes to utilise the net issue proceeds towards funding growth in the financial services and payment services businesses, investment in data, ML, AI, product and technology, capital expenditure for the payment devices business and general corporate purposes.

SBI Capital Markets and Dam Capital Advisors Ltd are the book running lead managers of the Mobikwik IPO, while Link Intime India is the IPO registrar.

As the Mobikwik IPO opens soon, investors look at the trends in the grey market for Mobikwik shares. Here’s what Mobikwik IPO grey market premium (GMP) signals ahead of issue opening on Wednesday:

Mobikwik IPO GMP

The trend for Mobikwik shares in the unlisted market remains bullish. According to stock market observers, Mobikwik IPO grey market premium (GMP) has remained in the positive zone.

Mobikwik IPO GMP today is ₹112 per share, stock market experts said. This indicates that in the grey market, Mobikwik shares are trading higher by ₹112 than their issue price of ₹279 per share.

Mobikwik IPO GMP indicates that One Mobikwik Systems shares are trading at ₹391 apiece in the grey market, a premium of 40% to the IPO price of ₹279 apiece.

Investors should note that the grey market premium is just an indicative price in the market and should not be solely considered to make investment decisions.

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