Mobikwik IPO will open on December 11, 2024, and close on December 13, 2024. One MobiKwik Systems Limited is a fintech company that was incorporated in 2008. Through its own wallet, the company provides a system of a two-sided payment network for consumers and merchants. So, let’s go through the Mobikwik IPO details, listing, lot size, and past performance.
Mobikwik IPO Date 2024
The key pointers for the Mobikwik IPO date are:
- Bidding Opening Date: December 11, 2024
- Bidding Closing Date: December 13, 2024
- Basis of Allotment Date: December 16, 2024
- Initiation of Refunds (in case of less or no allotment): December 17, 2024
- Shares Credited to Your Demat Account: December 17, 2024
- IPO Listing Date: December 18, 2024
- Listing on Exchange: NSE and BSE
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Mobikwik IPO Details
One Mobikwik Systems Limited IPO size is set at ₹572 crores with only the fresh issue component.
Here are the key details of Mobikwik IPO:
- Mobikwik IPO Price Band: ₹265 to ₹279 per share
- Face Value: ₹2 per share
- Lot Size: 53 Shares
- Total Issue Size and Amount: 2,05,01,792 shares (amounting to ₹572 crores)
- Fresh Issue Size and Amount: 2,05,01,792 shares (amounting to ₹572 crores)
Mobikwik IPO Proceeds Usage
Mobikwik IPO proceeds will be used for the different expansion activities which are as follows:
- ₹150 crores for funding organic growth of the financial services business.
- ₹135 crores for funding organic growth of the payment services business.
- ₹107 crores for R&D in data, AI, ML, product, and technology development.
- ₹70.285 crores for fulfilling the capex requirements of the payment devices business.
- The remaining amount will be used for other corporate requirements.
Mobikwik IPO Reservation
Mobikwik IPO reservation to different investors are:
- For QIBs: Not less than 75% of the issue size
- For NIIs: Not more than 15% of the issue
- For Retail Investors: Not more than 10% of the issue
- Mobikwik IPO Shareholder Quota: There is no provision for shareholder quota in this IPO.
Mobikwik IPO Lot Size
Mobikwik IPO lot size is 53 shares, wherein bidding can be done in further multiples. The minimum and maximum of the lot size that each category of investor can apply in this IPO are:
| Applicant Type | Lot Size | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,787 |
| Retail (Max) | 13 | 689 | ₹1,92,231 |
| S-HNI (Min) | 14 | 742 | ₹2,07,018 |
| S-HNI (Max) | 67 | 3,551 | ₹9,90,729 |
| B-HNI (Min) | 68 | 3,604 | ₹10,05,516 |
Mobikwik IPO: Promoter Holding
The current promoters of One Mobikwik Systems Limited IPO are:
- Bipin Preet Singh
- Upasana Rupkrishan Taku
- Koshur Family Trust
- Narinder Singh Family Trust
One Mobikwik Systems Limited IPO: Company Overview
One Mobikwik Systems Limited is mainly in two types of businesses: Payment services and Financial services. In payment services, the company provides a merchant payment ecosystem, recharge and bill payments, credit card bill payments, and a UPI ecosystem. In financial services, the company provides pay-later, personal loans, merchant loans, and other lending services.
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The company has a registered user base of 16.10 crores and enabled 0.42 crores merchants as of June 30, 2024. From FY22 to FY24, its payment GMV (Gross Monetary Value) and MobiKwik ZIP GMV (Disbursements) have grown at an annual rate of 45.88% and 112.16%, respectively.
As of May 2024, One MobiKwik Systems Limited is the biggest wallet player in India with approximately 23.11% market share of the PPI wallet GTV (Gross Transaction Value). In August 2024, the company was ranked 6th among 80 customer operating units of the BBPS in terms of transactions, and complaints resolution.
One Mobikwik Systems Limited IPO: Financial and Operating Performance
MobiKwik key financials and operating performance for different periods are as follows:
| Particulars | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | YoY Change |
|---|---|---|---|---|
| Revenue | 345.83 | 890.32 | 561.12 | 59% |
| Profit After Tax | -6.62 | 14.08 | -83.81 | 117% |
| EBITDA | 2.23 | 37.22 | -55.92 | 167% |
| Assets | 908.10 | 854.65 | 714.33 | 20% |
| Total Borrowing | 206.34 | 211.70 | 192.27 | 10% |
| Platform Spend GMV | 28,578.25 | 47,677.73 | 26,235.03 | 82% |
| Digital Credit GMV | 2,346.71 | 9,093.35 | 5,114.98 | 78% |
*(in ₹ crores)
- In FY24, One Mobikwik Systems Limited’s revenue and PAT grew by 59% YoY and 117% YoY, respectively.
- EBITDA also increased by 167% from FY23 to FY24 while assets rose by 20%.
- Total borrowing increased by 10% YoY in FY24.
- In FY24, Platform Spend GMV and Digital Credit GMV both rose by 82% YoY and 78% YoY, respectively.
Competitor Analysis of Mobikwik IPO
The comparison of Mobikwik Limited’s performance with its peers in the same industry is as follows:
| Company Name | Basic EPS (₹) | RoNW (%) | EBITDA Margin (%) | Registered Users (in crores) |
|---|---|---|---|---|
| One MobiKwik Systems Limited | ₹2.46 | 8.66% | 4.18% | 15.58 |
| One 97 Communications Ltd (PayTM) | -₹22.33 | -10.70% | -3.61% | 30 |
| Affirm Holdings, Inc. | -₹133.60 | -18.95% | -26.51% | 1.87 |
| PayPal Holdings, Inc. | ₹308 | 20.17% | 16.89% | 39.1 |
*(For FY24 ending)
In FY24, One MobiKwik Systems Limited’s EPS is positive while RoNW is more than 8%, which is good.
EBITDA Margin is positive and it is 4.18%. From FY22 to FY24, the company’s registered user base has grown at a CAGR of 12.31%.
Risk Factors in One Mobikwik Systems Limited IPO
Mobikwik IPO GMP is ₹100 as of December 7, 2024 (at 9:54) and it is expected to list at a 35.84% gain. However, GMP is not the only criterion to bid for an IPO.
The company is exposed to various risk factors which can eventually affect the business and investor’s perception:
- Any regulatory proceedings and notices by the RBI can affect the operations and financial performance.
- Security breaches and attacks on the platform could affect the reputation and operations.
- Risk of not being able to maintain the past revenue growth in the future.
- The inability to retain or expand the network of customers, merchants, and lending partners can impact the revenues.
- The highly competitive fintech industry imposes the risk of pricing pressures on merchants and customers.
- The financial services business growth is dependent on the relationships with lending partners for the distribution of products.
Mobikwik IPO Contact Information
For inquiries related to the Mobikwik IPO details, you can contact at the following places:
Registered Office Address: Unit 102, 1st Floor, Block-B, Pegasus One, Golf Course Road, Sector-53, Gurugram, Haryana-122003, India
Email: ipo@mobikwik.com
Company Website: http://www.mobikwik.com/ir
Mobikwik IPO Registrar Details:
Registrar Name: Link Intime India Private Limited
Phone: 91 8108114949
Email: mobikwik.ipo@linkintime.co.in
For all the insights on Mobikwik IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for this IPO easily on the SMC ACE App by opening demat account now.
FAQs
1. Is MobiKwik owned by HDFC Bank?
No, Mobikwik is not owned by the HDFC Bank. MobiKwik is a TPAP (Third-Party Application Provider) authorized by NPCI to facilitate payments through PSP Bank – HDFC Bank Limited.
2. What is the issue price of MobiKwik?
One MobiKwik Systems Limited IPO issue price band is set between ₹265 – ₹279 per share.
3. Is MobiKwik an IPO?
Mobikwik IPO will open on December 11, 2024 and its total issue size is ₹572 crores.
References:
https://www.sebi.gov.in/filings/public-issues/dec-2024/one-mobikwik-systems-limited-rhp_89348.html
SMC Global Securities Research Team
Author: All Content is verified by SMC Global Securities.
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