Mobikwik IPO day 1: GMP, subscription status, review & more – Should you apply?”
The Mobikwik IPO has launched today, marking a significant moment for the fintech company. Bidding opens from 10 AM today and will close on 13th December 2024. Mobikwik has set its IPO price band between ₹265 to ₹279 per share, aiming to raise ₹572 crore from this fresh issue. Investors can bid in lots, with each lot consisting of 53 shares. As per market reports, the stock is currently trading at a premium of ₹132 in the grey market.
The IPO details are as follows:
- The price band is ₹265 to ₹279 per equity share.
- The issue will raise ₹572 crore.
- One lot consists of 53 shares.
- The IPO is open from 11th to 13th December 2024.
- Allotment is expected by 14th December 2024, with listing on BSE and NSE scheduled for 18th December 2024.
The Mobikwik IPO has received mixed reviews from analysts. Some have assigned a “subscribe” rating, citing the company’s strong growth, especially with a 59% revenue increase year-over-year and a 117% rise in Profit After Tax (PAT). BP Equities points to the fintech company’s strong presence in digital payments, with expected growth in mobile wallet payments and digital transactions. However, concerns over its high P/E ratio, currently at 113x, make it a somewhat expensive investment. Despite this, the company’s market position and improved financials have prompted analysts to recommend the IPO to investors.
Investors looking to apply for the Mobikwik IPO should consider the company’s growing digital payment presence and strong revenue growth, despite the relatively high valuation.
