New Delhi. Mobikwik IPO has also opened from today. The company providing digital wallet and online payment services has brought this IPO to raise Rs 572 crore. The price band for this IPO has been kept at Rs 265 to Rs 279 per share. The good news is that the price of this share is doing well in the gray market. It is being told that it is trading at a premium of Rs 136 (approximately Rs 415). Meanwhile, information has come that the retail portion of this APO has been completely filled. However, the bids will continue for three days.
Every investor will have to bid for at least 53 cities. For this he will have to keep Rs 14787 as reserve. According to the information received, you can bid till 13 December 2024. There is a possibility of allotment of this share on 16th December. Shares will be credited to your demat account by 17th December. MobiKwik shares may be listed on NSC and BSE on 18th December.
What is the maximum amount investors can invest?
The price band of IPO is Rs 265-279 per share. An investor will need to reserve Rs 14,787 for a minimum of 53 shares, while a retail investor can bid up to a maximum of Rs 2 lakh. Accordingly, investors can bid for a maximum of 13 lots (689 shares).
According to the information given in the draft paper to the exchange, the company will use this amount to expand its payment and financial services. Apart from this, there are also plans to invest in Research and Development (R&D), Machine Learning (ML), Artificial Intelligence (AI) and other technologies.
Should you subscribe to Mobikwik IPO?
Although this decision has to be taken by you, but you must know the gray market premium and expert opinion. Mobikwik shares are trading at Rs 415 in the gray market, which represents a premium of 48.75 percent.
Bajaj Broking said that MobiKwik’s strong brand image, technology-first approach, and efficient operational management make it a good choice for the long term. However, security risks exist. Swastika Investmart has said that if you are a high-risk investor then this may be good for you. The valuation of the company is quite high and there is tough competition in the fintech sector.
According to Anand Rathi Research, the company has a market cap of Rs 2,167.45 crore and is launching new products to broaden its financial platform. However, there has been a loss in Q1 FY25 due to pre-funding costs.
Tags: IPO, Money Making Tips, stock market
FIRST PUBLISHED: December 11, 2024, 11:24 IST