One MobiKwik Systems IPO: Price band set at ₹265-279 per share; check key dates, issue size, more

One MobiKwik Systems IPO price band: The One MobiKwik Systems IPO price band has been fixed in the range of ₹265 to ₹279 per equity share of the face value of ₹2. The One MobiKwik Systems IPO date of subscription is scheduled for Wednesday, December 11, and will close on Friday, December 13. The allocation to anchor investors for the One MobiKwik Systems IPO is scheduled to take place on Tuesday, December 10.

The One MobiKwik Systems IPO lot size is 53 equity shares and in multiples of 53 equity shares thereafter.

One Mobikwik IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors.

Tentatively, One Mobikwik IPO basis of allotment of shares will be finalised on Monday, December 16, and the company will initiate refunds on Tuesday, December 17, while the shares will be credited to the demat account of allottees on the same day following refund. One MobiKwik Systems share price is likely to be listed on BSE and NSE on Wednesday, December 18.

The company functions as a platform business with a robust two-sided payments network that links consumers and merchants effectively. As of June 30, 2024, we are proud to have acquired 161.03 million registered users and empowered 4.26 million merchants to facilitate payments online and offline. By continually enhancing our platform with innovative products in digital credit, investments, and insurance, we are significantly increasing its value for both new and existing consumers. This ongoing development positions us well for future growth and success.

The company stated in its red herring prospectus (RHP) that it is one of a few uniquely positioned players in sectors such as payment and financial services. As a result, there are no directly comparable companies in India or globally that have a similar business model and size.

MobiKwik reported a profit of ₹14.08 crore for FY24. The company's consolidated total income has risen significantly to ₹890.3 crore, reflecting a strong increase from ₹561.6 crore in FY23 and ₹543.2 crore in FY22. While the company did face challenges in the previous two fiscal years, with losses of ₹128.16 crore in FY22 and ₹83.8 crore in FY23.

MobiKwik Systems IPO details

MobiKwik Systems is poised to raise ₹572 crore through its initial public offering (IPO), which will consist entirely of a fresh issue of shares, with no offer-for-sale component.

This strategic move will accelerate growth in its financial and payment services sectors. MobiKwik is committed to investing in data, machine learning (ML), and artificial intelligence (AI) to further enhance its product and technology offerings. Additionally, the funds will be directed towards capital expenditures for payment devices as well as general corporate purposes, positioning the company for significant advancement in the competitive payments landscape.

The Mobikwik IPO's book running lead managers are SBI Capital Markets Limited and Dam Capital Advisors Ltd (formerly Idfc Securities Ltd), while the issue's registrar is Link Intime India Private Ltd.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.