One Mobikwik Systems Ltd IPO Opens On December 11. Check IPO Details Issue Date Price

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One Mobikwik Systems Ltd IPO Opens On December 11. Check IPO Details Issue Date Price

December 10, 2024
One Mobikwik Systems Ltd IPO Opens On December 11. Check IPO Details Issue Date Price

One Mobikwik Systems Limited is coming out with a fresh public issue to raise Rs. 572 crores from the market.

Below are the details of the One Mobikwik Systems Limited IPO:

  • Issue opens – December 11th (Wednesday)
  • Issue closes – December 13th (Friday)
  • Issue size – Rs. 572 crores
  • Price band – Rs. 265 to 279 per equity share
  • Bid lot – 53 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • One MobiKwik Systems Limited (the “Company” or “MobiKwik”) is a platform business at its core, that has a two-sided payments network, consisting of consumers and merchants.
  • MobiKwik has acquired 161.03 million Registered Users and enabled 4.26 million Merchants to make and accept payments online and offline, as of June 30, 2024. The usefulness of the platform for new and existing consumers increases, as the Company adds newer products to the digital credit, investments, and insurance verticals.
  • MobiKwik was founded by Bipin Preet Singh and Upasana Taku, who have prior experience in building scalable technology and financial products at their previous organisations.
  • The Company’s aim is to leverage technology as the primary factor to facilitate financial inclusion for the underserved population in India.
  • The Company capitalizes on various network effects, as outlined below:
    • Payments: The increase in the number of consumers leads to greater acceptance among merchants, and vice-versa.
    • Consumer Credit: The growth in payments data facilitates broader consumer underwriting. The availability of credit products to consumers leads to heightened spending within the network.
    • Investments: Utilizing personal financial management tools like Lens allows for a detailed comprehension of consumers’ financial data, resulting in personalized recommendations of investment products.

Issue Size : Rs. 572 Cr.

Issue break-up :

QIB – 75 % of the offer – Rs. 429 Cr.
NIB – 15 % of the offer – Rs. 86 Cr.
RET – 10 % of the offer – Rs. 57 Cr.

Listing: BSE & NSE

Registrar: Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Friday, December 13, 2024.

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