One MobiKwik Systems Raises Rs 257 Crore From Anchor Investors Ahead Of IPO
One MobiKwik Systems Ltd. raised Rs 257 crore from anchor investors on Tuesday ahead of the launch of its initial public offering a day later. The company allotted 92.2 lakh shares at Rs 279 apiece to 21 anchor investors, according to an exchange filing.
The investors include HDFC Mutual Fund-HDFC Multi Cap Fund, Morgan Stanley Investment Fund Inc., SBI Magnum Children's Benefit Fund- Investment Plan, Quant Mutual Fund- Quant BFSI Fund.
SBI Magnum Children's Benefit Fund-Investment Plan secured 15.54% of the allocation, while HDFC Mutual Fund-HDFC Multi Cap Fund and HDFC Mutual Fund-HDFC Banking and Financial Fund mopped up 4.98% each.
Six domestic mutual funds have applied through a total of 10 schemes. They have collectively netted 53.42% of the anchor portion for Rs 137.5 crore, the filing stated.
HDFC Bank, through three of its funds, has secured an allocation of 12.62%, while Whiteoak Capital acquired 3.89% through its two funds.
MobiKwik's IPO is entirely a fresh issue of up to Rs 572 crore and with no offer-for-sale component. The price band for the IPO has been set in the range of Rs 265–279 per share..
Out of the total amount, MobiKwik plans to utilise Rs 150 crore to fund organic growth in financial services while Rs 135 crore will be used in payment services. An investment of Rs 107 crore will be used in research and development, focusing on data, machine learning, artificial intelligence, and product technology.
The remaining Rs 70.3 crore will be allocated for capital expenditure in the payment devices business and other general corporate purposes.
Business
MobiKwik was incorporated on March 20, 2008, in New Delhi. The firm, founded by Bipin Preet Singh and Upasana Taku, was later converted to a public limited company on June 25, 2021.
Koshur Family Trust and Narinder Singh Family Trust are also promoters of the company.
As of June 30, the platform had gained 161 million registered users and supported 4.26 million merchants in conducting transactions both online and offline.
Watch The IPO Adda Here
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
