Mobikwik, a fintech company, on Wednesday (December 18) made its highly anticipated debut on the Indian bourses The IPO, which garnered overwhelming interest during the subscription period, debuted on the stock market with a premium of 58.5 per cent. On BSE, the shares got listed at Rs 442.25 and on NSE it opened at Rs 440.
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Grey Market Premium Before Listing
Ahead of its listing, Mobikwik shares created in the grey market stood at Rs 160, which indicated a potential listing price of Rs 439, that is 57.35 per cent premium over the upper IPO price of Rs 279.
IPO Details and Key Highlights
The Mobikwik IPO, which was valued at Rs 572 crores, consisted entirely of a fresh issue of 2.05 crore equity shares.
The price band for the public offering was set between Rs 265 and Rs 279 per share, with retail investors needing a minimum investment of Rs 14,787 for one lot of 53 shares.
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Subscription Numbers
During the three-day subscription window which ran from December 11 to 13, Mobikwik’s IPO garnered an overwhelming response. The issue was subscribed 125.69 times overall, with retail investors oversubscribing 141.78 times, followed by Non-Institutional Investors (114.7 times) and Qualified Institutional Buyers (125.82 times).
Lead managers and Registrars
The IPO was managed by SBI Capital Markets and Dam Capital Advisors, with Link Intime India served as the registrar for the issue.
Anchor Investors
Before the opening of the public issue, Mobikwik secured Rs 257.40 crores from anchor investors on December 10.
