Fintech company One Mobikwik Systems is set to launch its initial public offering (IPO) next week to raise ₹572 crore from the primary market. One Mobikwik Systems is a fintech platform providing services to customers and merchants.
Mobikwik IPO will open for public subscription on Wednesday, December 11, and close on Friday, December 13. The IPO allotment is likely to be fixed on December 16 and the equity shares of One Mobikwik Systems will be listed on both the stock exchanges, BSE and NSE, on December 18.
Mobikwik IPO price band has been set at ₹265 to ₹279 per share and the public issue is entirely a fresh issue of 2.05 crore equity shares. The IPO lot size is 53 shares.
The fintech company proposes to utilise the net issue proceeds towards funding growth in the financial services and payment services businesses, investment in data, ML, AI, product and technology, capital expenditure for the payment devices business and general corporate purposes.
SBI Capital Markets and Dam Capital Advisors Ltd are the book running lead managers of the Mobikwik IPO, while Link Intime India is the IPO registrar.
Ahead of the Mobikwik IPO opening, investors may look at the trends in the grey market for Mobikwik shares. Here’s what Mobikwik IPO grey market premium signals ahead of issue opening.
Mobikwik IPO GMP
Mobikwik shares are showing a bullish trend in the unlisted market. According to stock market experts, Mobikwik IPO grey market premium (GMP) has remained in the positive zone ahead of the issue opening.
Mobikwik IPO GMP today is ₹120 per share, stock market observers said. This signals that in the grey market, Mobikwik shares are trading higher by ₹120 than their issue price of ₹279 per share. Mobikwik IPO GMP indicates that the equity shares of One Mobikwik Systems are trading at ₹300 per share in the grey market, a premium of 43.01% to the IPO price.
Investors should note that the grey market premium is just an indicative price in the market and should not be solely considered to make investment decisions.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
