Showing healthy demand from investors, the retail portion of the IPO was subscribed 58 times, while the non-institutional portion was booked 22 times. However, institutional buyers are yet to fully subscribe to the shares reserved for them.
The IPO saw full subscription in the first few hours of its opening on Wednesday.
According to data released by the BSE on Thursday, out of the 11 million shares that are open to public investors, bids have been received for 226 million.
Mobikwik is looking to raise Rs 572 crore through the public issue, which is its second attempt to list the company in bourses. While the Gurugram-based startup had first decided to raise Rs 700 crore in its January prospectus filed with markets regulator Sebi, it eventually trimmed the size of the issue to Rs 572 crore.
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Mobikwik has fixed the IPO price band between Rs 265 and 279 and is set to list on the exchanges on December 18.
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On Tuesday, Mobikwik informed the stock exchanges that it raised Rs 257.4 crore from anchor investors. The anchor placement round saw 21 investors, including 10 domestic funds which accounted for Rs 137.4 crore of the total amount raised.Mobikwik’s institutional shareholders include Peak XV Partners, Abu Dhabi Investment Authority (ADIA) and American Express. None of its investors are selling their shares through the IPO.
In FY24, the company reported an operating revenue of Rs 875 crore, up 62% on year.
