Mobikwik IPO is a book built issue of Rs 572.00 crores. The issue is entirely a fresh issue of 2.05 crore shares.
Mobikwik IPO opens for subscription on December 11, 2024 and closes on December 13, 2024. The allotment for the Mobikwik IPO is expected to be finalized on Monday, December 16, 2024. Mobikwik IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, December 18, 2024.
Mobikwik IPO price band is set at ₹265 to ₹279 per share. The minimum lot size for an application is 53 Shares. The minimum amount of investment required by retail investors is ₹14,787. The minimum lot size investment for sNII is 14 lots (742 shares), amounting to ₹207,018, and for bNII, it is 68 lots (3,604 shares), amounting to ₹1,005,516.
SBI Capital Markets Limited and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) are the book running lead managers of the Mobikwik IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Mobikwik IPO RHP for detailed information.
Mobikwik IPO Details
| IPO Date | December 11, 2024 to December 13, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹265 to ₹279 per share |
| Lot Size | 53 Shares |
| Total Issue Size | 20,501,792 shares (aggregating up to ₹572.00 Cr) |
| Fresh Issue | 20,501,792 shares (aggregating up to ₹572.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 57,184,521 |
| Share holding post issue | 77,686,313 |
Mobikwik IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not Less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Isssue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Isssue |
Mobikwik IPO Timeline (Tentative Schedule)
Mobikwik IPO opens on December 11, 2024, and closes on December 13, 2024.
| IPO Open Date | Wednesday, December 11, 2024 |
| IPO Close Date | Friday, December 13, 2024 |
| Basis of Allotment | Monday, December 16, 2024 |
| Initiation of Refunds | Tuesday, December 17, 2024 |
| Credit of Shares to Demat | Tuesday, December 17, 2024 |
| Listing Date | Wednesday, December 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 13, 2024 |
Mobikwik IPO Lot Size
Investors can bid for a minimum of 53 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,787 |
| Retail (Max) | 13 | 689 | ₹192,231 |
| S-HNI (Min) | 14 | 742 | ₹207,018 |
| S-HNI (Max) | 67 | 3,551 | ₹990,729 |
| B-HNI (Min) | 68 | 3,604 | ₹1,005,516 |
| Lot Size Calculator | |||
Mobikwik IPO Promoter Holding
Bipin Preet Singh, Upasana Rupkrishan Taku, Koshur Family Trust, and Narinder Singh Family Trust are the company’s promoters.
| Share Holding Pre Issue | 32.96% |
| Share Holding Post Issue | 25.18% |
About One Mobikwik Systems Limited
Incorporated in March 2008, Mobikwik is a fintech company providing prepaid digital wallets and online payment services.
The company provides a range of payment services, enabling consumers to:
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- Pay utility bills, such as mobile recharges, electricity, and credit card bills
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- Make purchases at both online and offline merchants, including retail stores and fuel stations
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- Transfer money to phone numbers, UPI IDs, or bank accounts
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- Check bank balances
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- Scan QR codes and make payments using UPI or Rupay credit cards.
The company has created innovative products such as MobiKwik ZIP, ZIP EMI for consumers, and Merchant Cash Advance for merchants through in-house models and strategic partnerships with lending partners. These offerings utilize digital public infrastructure (DPI) such as Aadhaar, E-Nach, Digi-Locker, and NSDL to provide seamless and digital-first experiences for consumers.
As of June 30, 2024, the company has 161.03 million registered users and has enabled 4.26 million merchants to make and accept payments both online and offline.
The product range of the company includes the following
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- Online Checkout for E-commerce Merchants: Enables merchants to accept payments through all major modes, including UPI, wallets, cards, and pay-later options.
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- Scan and Pay with Kwik QRs: This feature allows retail merchant partners to accept payments via UPI, wallets, cards, and pay-later options using QR codes.
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- MobiKwik Vibe (Soundbox): A QR-enabled device that announces payment confirmations for merchants, enhancing the customer experience.
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- MobiKwik EDC Machine: A point-of-sale terminal that allows merchants to accept all in-person payment modes, including credit cards, debit cards, and UPI.
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- Merchant Cash Advance: A flagship credit product that provides accessible, affordable credit to merchants using the company’s payment solutions for their business needs.
MobiKwik ZIP is a flagship product that lets consumers buy now and pay later within 30 days, offering flexibility and easy repayment options.
As of June 30, 2024, the company has 226 permanent employees in its technology function.
As of December 2024, the company had obtained 19 registered trademarks and had applied for 11 trademark applications under the Trade Mark Act of 1999.
Competitive Strengths:
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- Empowering Journeys through the Company’s legacy of providing a positive and sustainable consumer experience
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- Efficient operational management of loan products distributed by them.
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- The trust in their brand
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- Technology and product first approach to business
Company Financials
One Mobikwik Systems Limited Financial Information (Restated Consolidated)
One Mobikwik Systems Limited’s revenue increased by 59% and profit after tax (PAT) rose by 117% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 908.1 | 854.65 | 714.33 | 836.13 |
| Revenue | 345.83 | 890.32 | 561.12 | 543.22 |
| Profit After Tax | -6.62 | 14.08 | -83.81 | -128.16 |
| Net Worth | 216.54 | 142.69 | 162.59 | 158.65 |
| Reserves and Surplus | 147.21 | 151.15 | 131.26 | 205.1 |
| Total Borrowing | 206.34 | 211.7 | 192.27 | 150.91 |
Key Performance Indicator
The market capitalization of Mobikwik IPO is Rs 2295.45 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| Debt/Equity | 0.73 |
| RoNW | 8.66% |
| P/BV | 9.81 |
Check Mobikwik IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.46 | -3.22 |
| P/E (x) | 113.32 | -86.75 |
Note:
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- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
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- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.
Objects of the Issue (Mobikwik IPO Objectives)
The Company proposes to utilise the Net Proceeds towards the following objects:
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- Funding growth in the financial services business
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- Funding growth in the payment services business
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- Investment in data, ML, AI, product and technology
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- Capital expenditure for the payment devices business
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- General corporate purposes
Mobikwik IPO Review (May apply)
[Dilip Davda] The company is a fintech platform providing services to customers and merchants. It posted growth in its top lines and improving trends in bottom lines till FY24. It is gearing to add other services like investment, insurance to become all finance related services on digital platform, that will add to its revenue and profits going forward. It reported losses for Q1 of FY25 on account of provisioning of pre-funding cost adjustments. Based on FY24 earnings, the issue appears aggressively priced. Well-informed investors may park moderate funds for long term. Read detail review…
Mobikwik IPO Prospectus
One Mobikwik Systems Limited Contact Details
One Mobikwik Systems Limited
Unit 102, 1st Floor, Block-B,
Pegasus One, Golf Course Road,
Sector-53, Gurugram, 122 003
Phone: +91 1244903344
Email: ipo@mobikwik.com
Website: https://www.mobikwik.com/ir
Mobikwik IPO Registrar
Phone: +91-22-4918 6270
Email: mobikwik.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html