MobiKwik IPO: One Mobikwik Systems Limited raised nearly ₹257 crore from anchor investors ahead of its IPO subscription opening for bidding tomorrow. The fintech major’s initial public offering (IPO) is all set to hit the primary market for its three-day subscription period, opening on Wednesday, December 11, 2024, and closing on Friday, November 13, 2024.
Foreign and domestic institutions who participated in the anchor round included Government Pension Fund (Norges Fund), Eastspring Investments, Morgan Stanley Investments, White Oak Capital, 360 One Asset & Wealth Management, HDFC Mutual Fund (MF), Axis MF, SBI MF and SBI General Insurance, according to a circular uploaded on BSE’s website.
According to the circular, MobiKwik has decided to allocate 92.26 lakh equity shares to 21 funds at ₹279 apiece, which is also the upper end of the price band. This translates into the transaction size to ₹257.4 crore.
Fintech major One MobiKwik System’s public issue is set to hit the market to open for subscription on December 11. Incorporated in March 2008, Mobikwik is a fintech company providing prepaid digital wallets and online payment services. MobiKwik provides a range of payment services, enabling consumers to pay utility bills, such as mobile recharges, electricity, and credit card bills, among others.
One Mobikwik IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors.
