MobiKwik's IPO Soars with Overwhelming Investor Interest

Fintech firm One MobiKwik Systems Ltd's IPO was heavily oversubscribed, attracting 119.38 times the expected bids. The share sale raised Rs 572 crore, with strong participation from retail investors, QIBs, and non-institutional investors. This ICO marks the company's second attempt, following an initial setback in 2021.

The initial public offering of fintech company, One MobiKwik Systems Ltd, experienced a spectacular subscription rate of 119.38 times, surpassing expectations as the three-day share sale concluded on Friday with significant investor enthusiasm.

According to data from the National Stock Exchange (NSE), the IPO achieved bids for 1,41,72,65,686 shares, far exceeding the 1,18,71,696 shares available. The segment for Retail Individual Investors (RIIs) recorded a 134.67 times subscription, while Qualified Institutional Buyers (QIBs) saw a 119.50 times subscription. Non-institutional investors subscribed 108.95 times.

This marks the second attempt by the Gurugram-based firm to go public, following a previously shelved IPO plan in 2021 due to challenging market conditions. The company successfully raised Rs 257 crore from anchor investors earlier, with a price band set between Rs 265-279 per share. MobiKwik's IPO, managed by SBI Capital Markets and DAM Capital Advisors Ltd, will see shares listed on BSE and NSE.

(With inputs from agencies.)