Gurugram-based One Mobikwik Systems sold its shares in the price band of Rs 265-279 apiece, for which Investors could apply for a minimum of 53 shares and its multiples to raise Rs 572 crore.
One Mobikwik Systems is likely to finalize the basis of allotment of its shares on Monday, December 16. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, December 17. The fintech solutions provider saw a robust response from the investors during the three-day bidding.
The IPO of Gurugram-based One Mobikwik Systems was open for bidding between December 11 and December 13. It had offered its shares in the price band of Rs 265-279 per share with a lot size of 53 shares. The company raised a total of Rs 572 crore via IPO, which was entirely a fresh share sale of up to 2,05,01,792 equity shares.
The issue was overall subscribed a whopping 119.38 times. The allocation for the qualified institutional bidders (QIBs) was subscribed 119.50 times The portion allocated for retail investors was subscribed 134.67 times. Allocations for non-institutional investors (NIIs) were booked 3.44 times during the bidding process.
The grey market premium of One Mobikwik Systems has improved following a strong bidding from all categories of investors, attracting birds worth Rs 40,000 crore. Last heard, the company was commanding a premium of Rs 165-170 in the unofficial market, suggesting a listing for the investors of 60 per cent. The GMP stood around Rs 150 on the last day of bidding.
Incorporated in 2009, Gurugram-based Mobikwik is a fintech company providing prepaid digital wallets and online payment services. The company provides a range of payment services, enabling consumers to pay utility bills, to make payments for online and offline purchases, transfer of money and scan QR codes and make payments using UPI or Rupay credit cards.
Brokerage firms had mostly had a positive view on the issue but suggested it for a long-term on the back of strong track record, improving financial health, low cost of customer acquisition and technological advancement. However, RBI’s regulations, security breaches, low entry barriers and stiff competition are the key concern areas for the company.
DAM Capital Advisors (formerly IDFC Securities) and SBI Capital Markets are the book running lead managers of the Mobikwik IPO, while Link Intime India Private Ltd is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE on December 18, Wednesday.
Investors, who had bid for the issue of One Mobikwik Systems, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select One Mobikwik Systems Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit search button
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
