Liquidity Events
Fintech co. Mobikwik’s Rs.572-Cr IPO gets subscribed 125x
The initial public offering (IPO) of Gurugaon-based payments firm Mobikwik (operated by One Mobikwik Systems) has received bids for 140 crore shares against 1.12 crore shares on offer. The retail category was subscribed 136.38 times, while the portion reserved for QIBs saw a subscription rate of 125.82 per cent and the non-institutional investors' (NII) category was subscribed 114 times.The INR 572-crore IPO is entirely a fresh share sale of 20,501,792 equity shares. The price band of Mobikwik IPO was fixed at INR 265 - 279 per share. SBI Capital Markets Limited and Dam Capital Advisors Ltd are the book running lead managers of the Mobikwik IPO.Prior to the IPO, Mobikwik had issued 92.26 lakh shares to 21 funds at INR 279 apiece and raised a total of INR 257.4 crore from anchor book.The net proceeds from the issue will be utilized towards funding growth in financial services and payment services, investment in data & AI-ML, product and technology, capital expenditure for the payment devices business and general corporate purposes.
Between Mar 2014 and Mar 2024, Mobikwik had raised over USD 100 M from ADIA, Peak XV Partners, GMO Venture Partners, Amex Ventures and Others
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