New Delhi. Mobikwik IPO has also opened from today. The digital wallet and online payment services provider has brought this IPO to raise Rs 572 crore. The price band for this IPO is Rs 265 to Rs 279 per share. The good news is that this share price is performing well in the gray market. It is said to be trading at a premium of Rs 136 (roughly Rs 415). Meanwhile, it has been reported that the retail portion of this APO has been fully filled. However, bidding will continue for three days.
Each investor has to bid for at least 53 cities. For this he has to keep Rs 14787 as reserve. As per the information received, you can bid till 13th December 2024. The allotment of this share is likely to take place on December 16. The shares will be credited to your demat account by December 17. Shares of MobiKwik may be listed on NSC and BSE on December 18.
What is the maximum amount investors can invest?
The price band of the IPO is Rs 265-279 per share. An investor will need to reserve Rs 14,787 for a minimum of 53 shares, while a retail investor can bid up to a maximum of Rs 2 lakh. Accordingly, investors can bid for a maximum of 13 lots (689 shares).
According to information provided in the draft paper to the exchange, the company will use the funds to expand its payment and financial services. It also plans to invest in research and development (R&D), machine learning (ML), artificial intelligence (AI) and other technologies.
Should you subscribe to Mobikwik IPO?
Although this decision is yours to make, you must know the gray market premium and expert opinion. Shares of Mobikwik are trading at Rs 415 in the gray market, representing a premium of 48.75 per cent.
MobiKwik’s strong brand image, technology-first approach, and efficient operational management make it a good choice for the long term, Bajaj Broking said. However, there are security risks. Swastika Invest Mart said if you are a high risk investor then this may be good for you. The company’s valuation is quite high and there is stiff competition in the fintech sector.
According to Anand Rathi Research, the company has a market cap of Rs 2,167.45 crore and is launching new products to broaden its financial platform. However, there has been a loss in the first quarter of FY25 due to pre-funding expenses.
Tags: IPO, Money making tips, Stock market
First Publication: December 11, 2024, 11:24 IST
Details of Mobikwik IPO
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