One Mobikwik Systems IPO

The One Mobikwik Systems mainboard IPO opens for subscription on 11 Dec 2024 and closes on 13 Dec 2024, offered at a price band of ₹265–279 per share, and is set to list on NSE and BSE. In total, the issue aims to mobilise ₹572 crore.

Issue structure

The IPO is structured entirely as a fresh issue of ₹572 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Listing performance

One Mobikwik Systems listed on 18 Dec 2024 at ₹442.25, a premium of +58.5% over the issue price of ₹279.

About One Mobikwik Systems

Incorporated in 2009, Mobikwik is a technology-driven Fintech company and is among one of the largest mobile wallets (MobiKwik Wallet) and Buy Now Pay Later (BNPL) players in India. The company offers various payment services, allowing consumers to Pay utility bills (e.g., mobile recharges, electricity, credit card bills), Make payments at online and offline merchants (retail, fuel pumps), Transfer money to phone numbers, UPI IDs, or bank accounts, Check bank balances, scan QR codes, and pay using UPI or Rupay credit. As of September 30, 2023, the company operates a two-sided payments network, comprising 146.94 million registered users and 3.81 million merchants, enabling both online and offline payments. As they expand their platform with new offerings in digital credit, investments, and insurance, the consumer base continues to grow, further enhancing their services. Through in-house models and strategic partnerships with lending partners, the company has developed innovative products such as MobiKwik ZIP, ZIP EMI for consumers, and Merchant Cash Advance for merchants. These offerings leverage digital public infrastructure (DPI) like Aadhaar, E-Nach, Digi-locker, and NSDL to create seamless, digital-first consumer experiences. As of September 30, 2023, They had 1233 employees, including 604 permanent employees and 629 contract employees. Their range of products includes: Online Checkout for E-commerce Merchants: Enables merchants to accept payments through all major modes, including UPI, wallets, cards, and pay-later options. Scan and Pay with Kwik QRs: Allows retail merchant partners to accept payments via UPI, wallets, cards, and pay-later options using QR codes. MobiKwik Vibe (Soundbox): A QR-enabled device that announces payment confirmations for merchants, enhancing the customer experience. MobiKwik EDC Machine: A point-of-sale terminal that allows merchants to accept all in-person payment modes, including credit cards, debit cards, and UPI. Merchant Cash Advance: A flagship credit product that provides accessible, affordable credit to merchants using the company's payment solutions for their business needs. Their payments services products for the consumers (via UPI, MobiKwik Wallet, cards, and pay-later): Recharge and Bill payments: Consumers can search for the relevant utility services and pay their bills, such as mobile recharges, electricity bills, Fastags, credit card bills, etc. Payments at online e-commerce merchants. Payments at offline Merchants like organized retail and fuel pumps. Transfer money to any other phone number, contact, UPI ID, or bank account. Consumers can also check their bank balance, scan QRs to pay others, or pay via bank or Rupay credit through UPI. MobiKwik ZIP is a flagship product that lets consumers buy now, and pay later within 30 days, offering flexibility and easy repayment options. Their Financial Services products for the consumers: The Digital credit products include MobiKwik ZIP, ZIP EMI, Investment products include Lens, Xtra, mutual funds, and digital gold. Their Strengths are: Empowering Journeys through the Company's legacy of providing positive and sustainable consumer experience Efficient operational management of loan products distributed by them. The trust in their brand Technology and product first approach to business