Ahmedabad : One MobiKwik Systems Limited, a platform business with a two-sided payments network consisting of consumers and merchants, has fixed the price band of Rs 265/—to Rs 279/—per Equity Share of face value Rs 2/—each for its maiden initial public offer. The Company’s Initial Public Offering (“IPO” or “Offer”) will open for subscription on Wednesday, December 11, 2024, and close on Friday, December 13, 2024. Investors can bid for a minimum of 53 Equity Shares and in multiples of 53 Equity Shares thereafter.The IPO is entirely a fresh issue of up to Rs 572 crore and with no offer of sale component. The proceeds from its fresh issuance will be utilized to the extent of Rs 150 crore for funding organic growth in its financial services business; Rs 135 crore for funding organic growth in its payment services business; Rs 107 crore for Research and development (“R&D”) investment in data, ML and AI and product and technology; Rs 70.28 crore for capital expenditure for its payment devices business; and general corporate purposes.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 Rs 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 Rs 28,578.25 crore. The company has facilitated credit disbursals worth Rs 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 totalling Rs 6,692.85 crore as an Authentication User Agency (AUA) and achieved a competitive customer acquisition cost (CAC) of just Rs 33.53.SBI Capital Markets Limited, and DAM Capital Advisors Limited are the book-running lead managers, and Link Intime India Private Limited is the registrar of the issue.The issue is being made through the book-building process, wherein not less than 75% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the issue shall be available for allocation to non-institutional investors, and not more than 10% of the issue shall be available for allocation to retail individual bidders.