Review of One Mobikwik Systems Limited IPO (Mobikwik IPO): Lot Size, Check Issue Date, Price

Mobikwik IPO Price: ₹265 to ₹279 per share
IPO Dates: 11 December 2024 – 13 December 2024

Founders and Vision

Founded by Bipin Preet Singh and Upasana Taku, MobiKwik aims to leverage technology to promote financial inclusion in underserved communities in India. The platform’s diverse offerings in payments, credit, investments, and insurance underscore its commitment to becoming a comprehensive financial services provider.

Key Services for Consumers

1. Payment Solutions:
   • Utility Payments: Pay bills for mobile recharges, electricity, credit cards, and FASTags.
   • Shopping: Make payments at online e-commerce stores and offline merchants, including retail stores and fuel stations.
   • Money Transfers: Send money to phone numbers, UPI IDs, or bank accounts.
   • QR Payments: Scan QR codes to make payments using UPI or RuPay credit cards.
   • Pocket UPI: Make UPI payments through the MobiKwik wallet without linking a bank account.
2. Digital Credit Products:
   • MobiKwik ZIP: A flagship “buy now, pay later” product with a 30-day interest-free credit line.
   • ZIP EMI: Offers personal loans repayable in instalments.
   • Credit Cards: Co-branded credit cards backed by fixed deposits.
3. Investment Products:
   • Lens: A personal financial management tool providing insights on bank accounts and other financial data using AI-powered chatbots.
   • Xtra: A peer-to-peer lending product offered in collaboration with NBFC partners.
   • Fixed Deposits: Available through RBI-registered NBFCs and banks.
   • Mutual Funds and Digital Gold: Distribution of these investment options for consumers.

Merchant-Focused Offerings

1. Payment Solutions:
   • Online Checkout: Supports payments via UPI, wallets, cards, and pay-later options for e-commerce merchants.
   • Kwik QR Codes: Retail merchant partners can accept payments across multiple modes, including UPI and wallets.
2. Devices and Terminals:
   • MobiKwik Vibe (Soundbox): A QR-enabled device that announces payment confirmations for enhanced merchant experiences.
   • MobiKwik EDC Machine: A point-of-sale terminal for in-person payments via credit cards, debit cards, UPI, and more.
3. Merchant Cash Advance: A credit solution providing accessible and affordable financing options to merchants for business needs.

Growth and Achievements

As of June 30, 2024, MobiKwik boasts 161.03 million registered users and 4.26 million enabled merchants. The company reported a profit of ₹140.79 million for the fiscal year ending March 2024, highlighting its success in delivering innovative, scalable solutions with low employee cost-to-revenue ratios.

From Fiscal 2022 to Fiscal 2024, MobiKwik achieved an annual growth rate of 45.88% in payment GMV and 112.16% in MobiKwik ZIP GMV. The company has earned several accolades, such as the Economic Times Most Promising Brands Award and the Innovative DevOps Excellence Award.

Competitive Strengths

• Sustainable Consumer Experience: Focused on positive, scalable, and sustainable user engagement.
• Efficient Operations: Streamlined loan distribution processes and cost-effective management.
• Strong Brand Trust: A recognized and trusted name in the digital payments space.
• Tech-Driven Approach: Innovations to enhance user and merchant experiences.

MobiKwik continues to build its platform with a commitment to frugality, scalability, and innovation, solidifying its position in India’s digital financial ecosystem.

Intellectual Property

As of December 2024, the company holds 19 registered trademarks and has filed 11 additional trademark applications under the Trade Mark Act of 1999.

Bidding Starts In

Mobikwik IPO Specifics:

Mobikwik IPO Timetable (Important Dates)

Mobikwik IPO Lot Size

Bidders have the opportunity to bid for a minimum of 53 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.

Mobikwik IPO Reservation

One Mobikwik Systems Limited IPO Financial Information

One Mobikwik Systems Limited experienced a substantial surge in its revenue, witnessing a notable 59% increase, while the profit after tax (PAT) soared significantly by 117% during the period spanning from the financial year concluding on March 31, 2024, to March 31, 2023.

Key Performance Indicator – Mobikwik IPO

Objects of the Issue:

The company plans to allocate the Net Proceeds for the following purposes:

1. Supporting general corporate requirements
2. Expanding its financial services operations
3. Driving growth in its payment services segment
4. Investing in data analytics, machine learning, artificial intelligence, product development, and technology advancements
5. Funding capital expenditures for its payment devices segment

Prospectus Links:

Prospectus: Official documents that provide detailed information about the IPO and the company.