MobiKwik Systems IPO Day 1: Subscribed for almost 8 times; should you subscribe?

The initial public offering (IPO) of One Mobikwik Systems witnessed a good response on its first day of bidding (December 11, 2024), with bids received for 4,00,52,418 shares within hours of the share sale process. According to data from the BSE website, the IPO had received total bids for 4,00,52,418 shares, accounting for 337 per cent or 3.37 times against the total issue size of 1,18,71,696 shares.

By 12:57 pm, the category-wise retail investor class led the subscription with bids of 13.90 or 3,00,08,971 shares against 21,58,490 shares reserved for them. On the other hand, Qualified Institutional Buyers (QIBs) showed minimum interest. Here's how NIIs, RIIs, and QIBs subscribed so far on the first day of bidding:

• Retail Individual Investors (RIIs): Oversubscribed with bids for 3,00,08,971 shares or 13.90 times
• Non-Institutional Investors (NIIs): Oversubscribed to 3.10 times or 1,00,34,649 shares
• Qualified Institutional Buyers (QIBs): Showed minimal participation of 8,798 shares

The IPO do not have any reserved portion for Shareholder, and Employee quota.

Should you subscribe One Mobikwik Systems IPO?

Analysts at Bajaj Broking have recommended the IPO for the long-term instead of for a listing gain by citing that the issue is priced at a P/BV of 10.06 based on its NAV of Rs 27.74 as of June 30, 2024, and at a P/BV of 2.97 based on its post-IPO NAV of Rs 94.05.

"Annualised earnings of FY25 against its post-IPO fully diluted paid-up equity capital, the asking price results in a negative P/E due to Q1 losses," the brokerage said. The brokerage has recommended to an investor to apply the IPO from a long-term perspective.

One Mobikwik Systems IPO Key Details: Issue size, price band, and lot size

With the price band of Rs 265 to Rs 279/share the company launched the IPO with an issue size of Rs 572.00 crore. The lot size of the IPO is 53 shares.

One Mobikwik Systems | Allotment date

The allotment date of One Mobikwik Systems IPO is fixed on Monday, December 16 it means applicants can check their status on December 17.

One Mobikwik Systems | Listing Date

The One Mobikwik Systems stock will debut on Wednesday, December 18, 2024.

Key Details of One Mobikwik Systems IPO; BRLMs & registrar

Book Running Lead Managers (BRLMs): SBI Capital and DAM Capital

Official Registrar: Link Intime India Private