Fintech platform company, One MobiKwik Systems IPO will open for subscription on Wednesday, December 11, 2024, and will close on Friday, December 13, 2024. Investors can bid for a minimum of 53 equity shares and in multiples of 53 equity shares thereafter.

Here are the key details you need to know about the upcoming IPO:

Price Band

The price band for the One MobiKwik Systems IPO is set between Rs 265 to Rs 279 per equity share with a face value of Rs 2 each.

One MobiKwik Systems IPO GMP

As per recent trends, the grey market premium (GMP) for One MobiKwik System IPO stands at Rs 95-100 per share as of 1500 IST on December 9, highlighting that the shares are trading at almost 35% premium to the issue price.

One Mobikwik Systems ipo listing date

The One MobiKwik Systems IPO is expected to be listed on the Indian bourses on December 18.

One MobiKwik Systems IPO Risk Factors

As per the DRHP filed by One MobiKwik Systems IPO, a muted growth outlook is one of the key concerns. As per the company statement, “As of June 30, 2024, the platform has acquired 161.03 million registered users and enabled 4.26 million merchants to transact both online and offline.”

“We may not be able to maintain the levels of growth, including in our Financial Services business, and our historical performance may not be indicative of our future growth or financial results, which could adversely affect our business, results of operations and financial condition,” it added.

One MobiKwik Systems IPO Financial Highlights

Between the fiscal year 2022 and 2024, the fintech platform’s payment GMV has grown at an annual rate of 45.88 per cent, and its MobiKwik ZIP GMV (Disbursements) achieved a remarkable annual growth rate of 112.16 per cent between Fiscal 2022 and Fiscal 2024.

One MobiKwik Systems IPO Details

The public offering of One MobiKwik Systems IPO is entirely a fresh issue of up to Rs 572 crore and with no offer of sale component. The issue is being made through the book-building process, wherein not less than 75 per cent of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers.

Furthermore, not more than 15 per cent of the issue shall be available for allocation to non-institutional investors, and not more than 10 per cent of the issue shall be available for allocation to retail individual bidders.

Fund utilisation

The proceeds from its fresh issuance will be used to the extent of Rs 150 crore for funding organic growth in its financial services business. Apart from this, the company will utilise Rs 135 crore for funding organic growth in its payment services business and Rs 107 crore for Research and development (R&D) investment in data, ML and AI and product and technology.

Furthermore, the company will use Rs 70.28 crore for capital expenditure for its payment devices business, and general corporate purposes.

Book Leading Managers and Registrar

The book-running lead managers of the issue are SBI Capital Markets, and DAM Capital Advisors, and Link Intime India is the registrar of the issue.

About the company

One MobiKwik Systems is a platform business with a two-sided payments network consisting of consumers and merchants, One MobiKwik Systems was founded by Bipin Preet Singh and Upasana Taku. As of June 30, 2024, the fintech platform has acquired 161.03 million registered users and enabled 4.26 million merchants to transact both online and offline.