One MobiKwik Systems IPO makes an exceptional debut on the exchange; closes at 90% premium

Mumbai, December 18, 2024: Shares of One MobiKwik Systems Limited makes an exceptional debuted on the exchange to close at 90% premium.

The scrip listed Rs 442.25 per share on BSE, a premium of 58.51% and Rs 440 per share on NSE, a premium of 57.71%. The company's share price closed at Rs 530.30 per share on the BSE, a 90.07% premium, and at Rs 528 per share on the NSE, a 89.25% premium.

As per NSE, the total quantity traded stood at 295.75 lakh shares, on BSE the total Quantity stood at 26.03 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1601.45 crore.

The Market Capitalization of the Company at today’s closing price stood at Rs. 4,119.71 Crore as per BSE and Rs. 4,101.84 Crore as per NSE.

The company had offered Rs 572 crore issue for subscription from December 11 to December 13. This garnered substantial interest, and the offer was subscribed 119.38 times. Qualified Institutional Buyer and Non-Institutional Investors Portion was subscribed 119.50 times and 108.95 times respectively. Retail Portion was subscribed 134.67 times.

One MobiKwik Systems, founded by Bipin Preet Singh and Upasana Taku, primarily with key businesses consisting of payment services and financial services.

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. By continuously adding new offerings to its digital credit, investments, and insurance verticals, MobiKwik enhances the platform’s value for consumers, aiming to create a comprehensive and profitable ecosystem. This strategy contributed to a profit of ₹14.08 crore for the fiscal year ending March 31, 2024.

Demonstrating a commitment to growth through innovative and cost-efficient solutions, MobiKwik has built a diverse portfolio of products while maintaining one of the lowest employee cost-to-revenue ratios among digital financial service platforms in Fiscal 2023 (Source: RedSeer Report). The company’s Payment GMV has grown at an annual rate of 45.88%, and its MobiKwik ZIP GMV (Disbursements) achieved a remarkable annual growth rate of 112.16% between Fiscal 2022 and Fiscal 2024.

As of June 2024, MobiKwik has established a broad footprint across 99% of India’s pin codes. It has 161.03 million registered users, including 70.88 million KYC-completed users, and reported a robust platform to spend GMV of ₹28,578.25 crore. The company has facilitated credit disbursals worth ₹2,346.71 crore year-to-date, with 34.28 million pre-approved digital credit users and 7.27 million active digital credit users. Additionally, MobiKwik has secured investments totaling ₹6,692.85 crore as an Authentication User Agency (AUA) and achieved a competitive customer acquisition cost (CAC) of just ₹33.53.