Payment platform One MobiKwik Systems Ltd. received bids worth Rs 39,963.6 crore for its Rs 572-crore initial public offer, which closed on Dec. 13. The IPO was priced at Rs 279 per share at the upper end of the price band.
The company received close to 46.1 lakh applications across all categories making it one of the the most-participated IPO after Waaree Energies Ltd. this year. The IPO was subscribed 127 times with the retail portion getting subscribed 147.9 times.
But only 38,682 investor applications will receive allotment. That is because since the retail individual investor portion was subscribed 147.9 times, the minimum allotment that can be made per investor is 53 shares.
There were 20.5 lakh shares earmarked for the retail investors, and with minimum 53 shares required to be allocated to each one of the successful investors.
The retail segment received approximately 43.9 lakh applications. That means at least one in every 119 applications will get a minimum lot of 53 shares.
The issue size of Rs 572 crore, including anchor investor portion of Rs 257.4 crore, saw the qualified institutional buyers portion being subscribed 125.5 times. The allotment for this segment is made on a proportionate basis.
The small NII portion was subscribed 127.8 times, and there too, not all will get MobiKwik shares. This segment received 1.64 lakh applications. Only 1,381 applications will receive at least a minimum lot of 742 shares in this segment. This means, one in 119 applications will receive the minimum allotment, that is, at least shares worth little over Rs 2 lakh.
The big NII segment was subscribed 110.3 times. This segment received 59,524 applications. Here, a maximum of 2,763 applications will receive allotment based on a minimum allotment of at least 742 shares.
As per the rules, even if the big NII category has a minimum subscription amount of Rs 10 lakh, in case of oversubscription, shares worth at least Rs 2 lakh can be allotted—the minimum NII bid amount. This is similar to the allocation for the small NII sub-category.
A total of 163 QIBs were allotted shares based on the basis of allotment.
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