MobiKwik Systems Limited GMP IPO Details

MobiKwik, founded in 2009, started as a mobile wallet in the early days of India’s digital payments industry. The company aimed to simplify utility bill payments by allowing users to load money into a mobile wallet. Over time, it has expanded its services to cover e-commerce, food delivery, petrol pumps, retail chains, pharmacies, and peer-to-peer payments through UPI.

MobiKwik operates in three segments: buy now, pay later (Zip EMI and MobiKwik Zip), consumer payments (MobiKwik Wallet), and payment gateway (Zaakpay). With over 100 million registered users and more than 3.4 million partners as of March 2021, the company has experienced significant growth.

The parent company, One MobiKwik Systems, is now preparing to launch an IPO to raise capital. The IPO will include an offer for sale and a fresh issue. The funds raised from the fresh issue will be utilized for various purposes, including user and merchant acquisition and retention, investment in data science, products, and technology, cash collateral for Buy Now Pay Later (BNPL) partners, and funding for inorganic growth.

Key MobiKwik IPO details: 

Company NameOne MobiKwik Systems LimitedCompany TypePrivate
Founder’s NameBipin Preet Singh and Upasana TakuCompany Established OnApril 2009
MobiKwik IPO Opening DateTBAMobiKwik IPO Closing Date TBA
MobiKwik IPO Allotment StatusTBACredit of Shares to the Demat AccountTBA
MobiKwik IPO Listing DateTBAMobiKwik IPO Face Value Rs. 2 per share
MobiKwik IPO Lot SizeTBAMobiKwik IPO Issue SizeTBA
MobiKwik IPO to be Listed onBSE, NSEMobiKwik IPO Price band TBA

Financial snapshot 

ParticularsFY 19FY 20FY 21
Revenue₹ 148.4 crore₹ 355.6 crore₹ 288.5 crore
Net Loss₹ -147.9 crore₹ -99.9 crore₹ -111.3 crore

Strengths of MobiKwik IPO:

  • MobiKwik is one of the largest mobile wallets and Buy Now, Pay Later (BNPL) providers in India.
  • It offers a unique combination of everyday mobile payments with the convenience and benefits of BNPL.
  • The flagship BNPL product, MobiKwik Zip, has a high repeat rate of 79.1% in FY21, indicating customer loyalty.
  • MobiKwik provides accessible and affordable small-ticket credit through its BNPL segment, catering to the needs of a wide user base.
  • The company has a strong focus on technology, utilizing big data analytics and deep data science, including machine learning.
  • Through the acquisition of Clearfunds, an online mutual fund platform, MobiKwik expanded its offering to include wealthtech products.
  • MobiKwik has established partnerships with 36 asset management companies and four insurance companies.
  • Its payment gateway aggregator, Zaakpay, offers comprehensive payment processing solutions to online merchants.

Risks and threats of MobiKwik IPO:

  • The company faces numerous and evolving cybersecurity threats, including computer viruses and malware, which pose a risk to its operations and customer data.
  • MobiKwik operates in a highly competitive fintech industry, facing substantial and increasing competition from other players.
  • Historical losses have been incurred due to significant investments required for business growth and user acquisition costs.
  • The BNPL business exposes MobiKwik to credit risk, as default rates or delayed payments by borrowers can impact its financial performance.
  • The success of BNPL products relies on maintaining strong relationships with lending partners.
  • There is a possibility that borrowers may not view or treat their BNPL credit obligations with the same level of significance as other financial obligations.

MobiKwik IPO details

MobiKwik has filed its Draft Red Herring Prospectus with the market regulator SEBI. The opening and closing dates of the MobiKwik IPO, as well as the allotment date, are yet to be announced. Share allotment will be credited to investors’ demat accounts after the allotment date. The listing date, when the company’s shares are listed on the stock exchanges (NSE and BSE), is also yet to be announced. Stay updated with Upstox for the latest updates on the MobiKwik IPO.

The MobiKwik IPO is a book-built issue, and the price band has not been set yet. Investors will need to choose a price within the price band when the IPO opens for subscription. The listing price, which is the price at which the shares debut on the stock exchanges, will be determined on the listing date.

The lot size for the MobiKwik IPO has not been disclosed. However, investors can typically apply for a minimum of 1 lot. According to news reports, the issue size for the MobiKwik IPO is expected to be around ₹1,900 crore.

IPO analysis

Registrar information

Name: Link Intime India Private Limited

Phone number: +91 022 4918 620

Email ID: mobikwik.ipo@linkintime.co.in

Red herring prospectus

Review the company’s submitted documents to gain a deeper understanding of its operations and relevant information.

Mobikwik IPO FAQ’s

How can I pre-apply for the MobiKwik IPO?

Pre-applying for the MobiKwik IPO is not currently open. The pre-apply option will be available two days before the IPO launch date. Payment for pre-applying can be made by accepting the UPI mandate received after pre-application.

What are the opening and closing dates for the MobiKwik IPO subscription?

The opening and closing dates for the MobiKwik IPO subscription have not been announced yet.

What is the lot size and minimum investment required for the MobiKwik IPO?

The lot size and minimum investment details for the MobiKwik IPO have not been announced yet.

What is the price band for the MobiKwik IPO?

The price band for the MobiKwik IPO is not currently available.

What is the size of the MobiKwik IPO?

The size of the MobiKwik IPO has not been announced yet.

How many bids can I place for the MobiKwik IPO?

You can place up to three bids for a single application.

Can bids be placed at different times during the IPO subscription period?

No, all bids must be placed at once. If you want to add an additional bid, you will need to delete your application and reapply.

When will MobiKwik shares be credited to my demat account?

The date for crediting MobiKwik shares to the demat account has not been announced yet.

On which exchanges will MobiKwik list?

MobiKwik shares will be listed on the NSE and BSE exchanges.

When will MobiKwik shares be listed on the exchanges?

The listing date for MobiKwik shares has not been announced yet.

Note: The MobiKwik Systems Limited IPO price band and date are not officially announced yet. The IPO Status of MobiKwik Systems Limited will be added to the IPO Status page as it will start.

Follow IPO Watch for the upcoming IPO news and their reviews, also keep following us on TwitterFacebook, and Instagram. For IPO latest News, Join our Telegram channel.

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