One Mobikwik Systems Limited (Mobikwik) IPO
Fintech company Mobikwik is one of India’s largest mobile wallets, and one of the largest Buy Now Pay Later (BNPL) players. It was founded by Bipin Preet Singh and Upasana Taku in 2009.
Since then, it expanded and included various services like bill payments, eCommerce shopping, food delivery, petrol pumps, large retail chains, pharmacies, Kirana stores, etc. It also provides peer-to-peer payments via unified payment interface (UPI), MobiKwik Wallet, and MobiKwik Wallet to bank payments. Over the years, it has amassed over 101 million Registered Users and more than 3 million eCommerce, physical retail and biller partners.
In 2012 Mobikwik introduced its payment gateway subsidiary Zaakpay to further enhance the value proposition to online merchants. Zaakpay allows online websites and mobile apps to collect payments from their users using multiple payment options, comprising debit cards, credit cards, mobile wallets, UPI and net banking.
In May 2019, it launched MobiKwik Zip, their flagship BNPL product, focusing on the Indian middle-class population to allow them to make payments for their day to day activities. MobiKwik Zip is focused on providing this unserved Indian population with their first experience of credit. One can get a credit up to ₹30,000 at ZERO cost to shop, pay bills and much more, making it easier for the users to manage the cash crunch.
MobiKwik enables its users to pay & save on online transactions and provides wealth management and credit facilities. One can choose Mutual funds, Digital Gold, Instant Loans, Money Transfers, Pay later & more services.
With MobiKwik, one can invest in the right Mutual Fund starting at just ₹100, giving them the freedom to start small and build their investment portfolio with several investment options.
Qualitative factors
• Strong network effects benefiting end-users, retail merchants, lending institutions and other partners.
• Large and engaged user base with low CAC.
• Strong consumer brand recognised across India.
• Technology and product-first approach to business.
Objects of the offer
- Funding organic growth initiatives.
- Funding inorganic growth.
- General corporate purposes.
Financials of Mobikwik
| Parameter (₹ in million) | FY21 | FY20 | FY19 |
| Total Assets | 4,231.39 | 3,379.36 | 3,350.84 |
| Total Income | 3,022.56 | 3,698.54 | 1,602.32 |
| Total Expenses | 4,040.70 | 4,544.91 | 3,020.98 |
| PAT | (1,113.00) | (999.20) | (1,479.73) |
| EPS | (22.18) | (20.45) | (31.01) |
Mobikwik IPO Issue Details
| Issue Open | |
| Issue Type | Book Built Issue IPO |
| Issue Size | [.] equity shares of ₹ 2 (aggregating up to ₹ 1,900 Cr) |
| Fresh Issue | [.] equity shares of ₹ 2 (aggregating up to ₹ 1,500 Cr) |
| Offer for Sale | [.] equity shares of ₹ 2 (aggregating up to ₹ 400 Cr) |
| Face Value | ₹ 2 per equity share |
| Issue Price | |
| Market Lot | |
| Min Order Quantity | |
| Listing At | BSE, NSE |
| Allotment Date | |
| Listing Date |
Mobikwik IPO Bid Details
| Sl No. | Category | Subscription Status (No. of times) | ||
| 1. | QIB | |||
| 2. | NII | |||
| 3. | RII | |||
| 4. | Employee | |||
| Total | ||||
| Book Running Lead Managers |
| 1. ICICI Securities Limited |
| 2. BNP Paribas |
| 3. Credit Suisse Securities (India) Private Limited |
| 4. IIFL Securities Limited |
| 5. Jefferies India Private Limited |
| Registrar to the Offer |
| Link Intime India Private Limited |
| C 101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai 400 083 Maharashtra, India Tel: +91 22 4918 6200 E-mail: mobikwik.ipo@linkintime.co.in Investor grievance e-mail: mobikwik.ipo@linkintime.co.in Contact person: Shanti Gopalkrishnan Website: www.linkintime.co.in SEBI Registration: INR000004058 |
Registered and Corporate Office: 5th Floor, HUDA City Centre, Metro Station, Sector 29, Gurugram, Gurgaon, Haryana, 122 001 |
Source: One Mobikwik Systems Limited DRHP
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