The Mobikwik IPO, opening on Wednesday, December 11, 2024, is a significant event for the company, as it seeks to raise ₹572 crore through a fresh issue of shares. Key details of the offering include:
Mobikwik IPO details:
- IPO Size: ₹572 crore (entirely fresh issue of shares)
- Price Band: ₹265–279 per share
- Minimum Investment: 53 shares per lot (₹14,045 to ₹14,787
Here’s a detailed timeline for the Mobikwik IPO:
- IPO Open Date: Wednesday, December 11, 2024
- IPO Close Date: Friday, December 13, 2024
- Cut-off Time for UPI Mandate Confirmation: 5 PM on December 13, 2024
Post-IPO Events:
- Basis of Allotment Finalization: Monday, December 16, 2024
- Initiation of Refunds: Tuesday, December 17, 2024
- Credit of Shares to Demat Accounts: Tuesday, December 17, 2024
- Listing Date: Wednesday, December 18, 2024
About MobiKwik
The founders of MobiKwik, Bipin Preet Singh and Upasana Taku, have been instrumental in shaping the company since its inception in 2009. Singh’s technical background and entrepreneurial vision laid the foundation for MobiKwik as a key player in India’s digital payment ecosystem. Let me know if you’d like more details about their journey or the company’s growth!
1. Digital Wallet
- Users can add money to a digital wallet for seamless payments.
- The wallet can be used for various purposes like online shopping, bill payments, and peer-to-peer transfers.
2. Loans
- Offers personal loans of up to ₹2,00,000.
- Quick approval process, with funds disbursed directly to the user’s account.
- Flexible repayment options tailored to user needs.
3. Investments
- Digital Gold: Enables users to purchase, sell, and store gold digitally.
- Mutual Funds: Facilitates investment in diverse mutual fund options.
- Fixed Deposits (FDs): Provides access to secure, interest-earning deposit schemes.
- Peer-to-Peer (P2P) Lending: Allows users to lend money directly to borrowers and earn returns.
4. Pocket UPI
- Offers a unique feature where users can perform UPI transactions without needing a linked bank account.
- Ideal for those looking for a quick and convenient payment solution.
5. Credit Score
- Users can check their credit score for free every month.
- Helps users monitor their financial health and eligibility for loans or credit cards.
6. Bill Payments
- Supports payment of utility bills like electricity, water, gas, and mobile recharges.
- Also includes options for paying insurance premiums and broadband bills.
7. Online Shopping
- Users can shop at partnered e-commerce platforms and physical stores.
- Provides offers and discounts exclusive to MobiKwik users.
8. Peer-to-Peer Payments
Secure and instant transaction capability.
Facilitates seamless UPI-based money transfers to friends, family, or businesses.
This fresh issuance suggests that Mobikwik is likely aiming to fund its expansion, enhance technological capabilities, or meet general corporate expenses. Potential investors should carefully analyze the company’s financials, growth prospects, and the overall fintech market’s dynamics before subscribing.