MobiKwik Systems IPO Day 1: Issue subscribed over 7 times; should you apply?
The initial public offering (IPO) of One Mobikwik Systems witnessed a good response on its first day bidding process (December 11, 2024), with bids received for 2,46,05,091 shares against the offered 1,18,71,696 shares.
)
MobiKwik IPO Subscription Status: The initial public offering (IPO) of One Mobikwik Systems witnessed a good response on its first day of bidding (December 11, 2024). According to data from the exchanges, the IPO had received total bids for 8,69,30,070 shares, accounting for oversubscribed at 732 per cent or 7.32 times against the total issue size i.e. 1,18,71,696 shares.
The category-wise retail investor class led the higher subscription numbers with a bid of 26.75 times or 5,77,48,111 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 on the first day of bidding:
- Retail Individual Investors (RIIs): Oversubscribed with bids for 5,77,48,111 shares or 26.75 times
- Non-Institutional Investors (NIIs): Oversubscribed to 8.98 times or 2,90,64,299 shares
- Qualified Institutional Buyers (QIBs): Showed minimal participation, applied bid for 1,17,660 shares
The IPO does not have any reserved portion for Shareholder, and Employees.
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
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
