One Mobikwik Systems IPO Closed
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Schedule of One Mobikwik Systems
| Issue open date | 11 Dec 2024 |
| Issue close date | 13 Dec 2024 |
| UPI mandate deadline | 13 Dec 2024 (5 PM) |
| Allotment finalization | 16 Dec 2024 |
| Refund initiation | 17 Dec 2024 |
| Share credit | 17 Dec 2024 |
| Listing date | 18 Dec 2024 |
| Mandate end date | 28 Dec 2024 |
| Lock-in end date for anchor investors (50%) | 15 Jan 2025 |
| Lock-in end date for anchor investors (remaining) | 16 Mar 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About One Mobikwik Systems
Mobikwik is a leading fintech platform offering prepaid digital wallets and online payment services. With 161M+ users and 4.26M+ merchants, it enables seamless bill payments, purchases (online and offline), money transfers, and QR-based payments. The company also provides digital credit, investments, and insurance products, driving financial inclusion and growth. FY24 profit stood at ₹140.79M, with payment GMV growing at 45.88% CAGR (FY22-24).
Financials of One Mobikwik Systems
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹572 crores |
| Fresh Issue | ₹572 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding organic growth in financial services business | 150 (26.22%) |
| Funding organic growth in payment services business | 135 (23.60%) |
| Research and development in data, ML, AI, and technology | 107 (18.71%) |
| Capital expenditure for payment devices business | 70.28 (12.29%) |
| General corporate purposes | 109.72 (19.18%) |
Strengths
- Strong user base with 161 million registered users and 4.26 million merchants.
- Diverse financial offerings, including digital credit, investments, and insurance.
- High growth in payment GMV (45.88% CAGR FY22-24) and digital credit (112.16%).
- Low operating costs with a frugal innovation model driving profitability.
Risks
- Competition from established fintech and payment players.
- Dependence on regulatory compliance in a dynamic environment.
- High reliance on digital credit and associated risks of defaults.
- Potential scalability challenges as the ecosystem expands.
Subscription Figures for One Mobikwik Systems
Subscription numbers as of 5:00 PM on 13 Dec 2024:
| Category | Shares Reserved | Shares Bid | Subscription (No. of times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 64,75,471 | 51,99,25,760 | 80.29 |
| Non Institutional Investors | 32,37,735 | 15,35,19,588 | 47.42 |
| Retail Individual Investors (RIIs) | 21,58,490 | 12,06,40,879 | 55.89 |
| Total | 1,18,71,696 | 79,40,86,227 | 66.89 |