Mobikwik IPO Latest News :The IPO of digital payment platform One MobiKwik Systems Limited can prove to be a blockbuster for retail investors. At least this is what the gray market premium and subscription status is indicating. The gray market premium of IPO is continuously increasing. At the same time, tremendous response is also being received from investors. This IPO will remain open for public subscription till December 13, 2024. The size of the IPO is around Rs 572 crore. The company has fixed the price band for the IPO at Rs 265-279 per share. The brokerage house has advised to subscribe for long term.
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Mobikwik IPO:Latest subscription status
The IPO of MobiKwik Systems Limited has been subscribed 11.67 times or 1167 percent till 12:30 pm on the second day. 10 percent share in the IPO is reserved for retail investors and till now it has been filled 41.47 times or 4147 percent. There is a reserve of 15 per cent in the IPO for Non-Institutional Investors (NII) and so far it has been filled 15.09 times or 1509 per cent. Whereas for Qualified Institutional Buyers (QIB), 75 percent of its share is reserved and so far it has been filled 0.03 times or 3 percent.
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Mobikwik IPO GMP
There is a tremendous craze in the gray market regarding the IPO of One MobiKwik Systems Limited. The unlisted stock of the company is trading at a premium of Rs 150 in the gray market. In terms of upper price band Rs 279, this premium is 54 percent. This premium is indicating that the company’s stock may be listed at Rs 429 compared to its issue price of Rs 279. Shares will be allotted to bidders in the IPO on 16 December 2024, while the company’s shares will be listed in the stock market on 18 December.
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What is the advice of the brokerage house?
Brokerage House Swastika InvestmartHas advised only risk taking investors to subscribe to Mobikwik’s IPO. The brokerage says that however, the company has shown consistent growth in its revenues and has recently turned profitable after previous losses. The brokerage said the company operates in a highly competitive fintech environment, which could impact its future growth and market share. According to the brokerage, the valuation of Mobikwik’s IPO is high.
Brokerage House Anand Rathi Research has advised to subscribe for long term in MobiKwik IPO. According to the brokerage, the valuation of the company at the upper price band is 15.5 times the earnings of FY 2024. After the issuance of equity shares, the company has a market capitalization of Rs 2,167.45 crore with a market cap to sales ratio of 2.4 based on FY2024 earnings.
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Brokerage House Bajaj Broking Has advised to subscribe for long term on One MobiKwik Systems IPO. The brokerage says that the company is known for its digital payment solutions and Buy Now Pay Later product. The company aims to use the proceeds to expand its financial services, payment systems and data technology capabilities. Bajaj Broking says that MobiKwik’s diversification into financial products and its focus on the middle income segment can increase revenue and profits in the future.
MobikWik Systems: Company Strengths
Drive growth through the company’s legacy of providing positive and sustainable consumer experiences.
Efficient operational management of loan products distributed by the company
Increasing trust in brand
Technology and product first approach to business
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IPO Key Risks: Major Risks
Security breaches and attacks against the Platform, and any potential breach or failure to otherwise protect personal, confidential and proprietary information, could harm the Company’s reputation. It may also adversely affect the company’s financial condition and results of operations.
There may be a question whether the company will be able to maintain the level of growth including the financial services business or not. There is no indication whether the company’s performance in the past will continue in the future or not. Also, it cannot be an indicator of future financial results.
(Disclaimer: The view or advice on the share is given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
