MobiKwik IPO gained attention in Dalal Street after filing the DRHP. The company will raise around ₹700 Crores from the fresh equity share issue. It will not include the Offer for Sale. The company is making its second attempt at the IPO. SEBI passed the first attempt of the IPO in 2021. However, the company refuses to continue due to some market situations. They were raising ₹1900 crores in their first IPO attempt. MobiKwik passed a resolution raising ₹880 Crores last week. The final raising amount is ₹700 crores.
MobiKwik IPO Date, Issue Size, Price Band, DRHP Details, and Grey Market Premium
MobiKwik has filled the draft papers for its second IPO attempt. The company will raise ₹700 crores from the fresh issue of equity shares with no offer-for-sale. However, they will also launch a pre-placement for ₹140 crores. Let us discuss some other important details as well. The share will have a face value of ₹2 per equity share. The MobiKwik IPO is expected to launch by March 2024. However, the company has yet to finalize the dates for the release. There will be a lot of things the company will discuss in the upcoming months. MobiKwik IPO price band is expected to range between ₹70 to ₹110. We will update you as soon as we get more information about it.
MobiKwik IPO shares will be reserved 75% for the Qualified Institutional Buyers QII, 15% for Non-Instituitional Buyers, and 10% for retail buyers. The company has planned out the requirements of the money as well. They will be utilizing around ₹70 crores for Capital Expenditure. MobiKwik plans to use AI and tech more in the products to stay fresh in the markets.
The company will utilize around ₹135 Crores to expand the payment service business and advance AI and tech usage. Around ₹250 Crores will be used for funding growth for the financial service business. They can also spend some amount on customer acquisition. MobiKwik has a good customer base. However, the company intends to make its connection stronger. The IPO’s issue and allotment date can be released in February 2024 or March 2024. MobiKwik worked on its cost calculation in this IPO. They have reduced the rising amount by more than half of the actual amount. The demand for the MobiKwik shares is already visible among investors. We hope you get enough details about the MobiKwik IPO above.