MobiKwik IPO: Bipin Preet Singh and Upasana Taku founded MobiKwik – a significant financial technology business that provides online payment services and prepaid digital wallets in 2008. Purchases, utility bill payments, money transfers to bank accounts, UPIs and phone numbers, as well as QR-based payments are all made possible by it. If you are interested to take initiatives for some investment then Set up your Demat account now with Angel One

Updates and news analysis on MobiKwik IPO: 

• After a successful subscription, the MobiKwik IPO allotment status is expected to be finalized on Monday, December 16. On the websites of the BSE and NSE users can check their allotment status online. 
• On Wednesday-December 18, One MobiKwik Systems’ shares will be placed on public exchanges.
• With bids for 1,41,72,65,686 equity shares against 1,18,71,696 shares on offer, the ₹572 crore initial share offering had a total subscription of 119.38 times. 
• Retail investors pushed the demand, subscribing 134.67 times the amount set aside for them. Non-institutional investors (NIIs) subscribed their quota 108.95 times, while the portion reserved for qualified institutional buyers (QIBs) was booked 119.50 times.
• The company has raised ₹257 crore from anchor investors previous to the IPO.
• The company’s offer was a new issue worth ₹572 crore, with a price range of ₹265 to ₹279 per share. The offer-for-sale element was absent.

MobiKwik IPO allotment: Steps to check status online on NSE: 

• Go to the IPO status page of the NSE CLICK HERE.
• Log in (New users need to sign up.)
• Select MobiKwik IPO from the drop-down menu.
• Enter details like application number and PAN card details
• Click on ‘submit’

MobiKwik IPO listing:

On Wednesday – December 18, One MobiKwik Systems’ (MobiKwik) shares will be listed on the NSE and the BSE (formerly known as the Bombay Stock Exchange). The company plans to invest in data, artificial intelligence, machine learning, product development, and technology with the proceeds from its initial public offering (IPO) in order to finance the expansion of its financial services and payment services businesses. Additionally, it will be utilized for corporate general purposes and capital expenditures for fintech equipment. The company’s promoters include Koshur Family Trust, Narinder Singh Family Trust, Upasana Taku and Bipin Singh. After the issue, their present 32.96% stake will drop to 25.18%. 

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(Disclaimer: Demat Dive is not giving any buying advice on any stock. Consult a SEBI registered advisor before investing anywhere.)

Authored by – Deepa Trivedi 

MobiKwik IPO