After a successful initial public offering, Indian fintech company Mobikwik has announced the allotment status of its shares to investors. The allotment status revealed that the shares are being traded at a premium of Rs 166 in the grey market, indicating a potential 59% premium for the company's shares when they are listed on the stock exchange in three days. Shareholders can check the allotment status on the NSE and registrar's websites to get the latest information about their investment. As demonstrated by the media reports, this is a significant milestone for Mobikwik, and all eyes will be on the stock exchange as investors eagerly await the listing of the company's shares.
Mobikwik IPO Allotment Status: Shares Trade at Premium in Grey Market
Background:
Mobikwik, an Indian fintech company, recently concluded its initial public offering (IPO), raising approximately $195 million. The IPO was oversubscribed by 1.09 times, with qualified institutional buyers (QIBs) accounting for nearly 80% of the total subscriptions.
Allotment Status:
The allotment status of Mobikwik shares was finalized and announced on July 28, 2023. Shareholders can check their allotment status on the NSE and registrar's websites. According to the allotment information, the shares are currently trading at a premium of Rs 166 in the grey market, indicating a potential 59% premium when they are listed on the stock exchange on July 31, 2023.
FAQs:
1. When will Mobikwik shares be listed on the stock exchange? A: Mobikwik shares are expected to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on July 31, 2023.
2. What is the issue price of Mobikwik shares? A: The issue price of Mobikwik shares was set at Rs 190 per share.
3. How can I check my Mobikwik IPO allotment status? A: Shareholders can check their allotment status on the NSE website (https://www.nseindia.com/), BSE website (https://www.bseindia.com/), or through the registrar to the issue, Link Intime India Private Limited (https://linkintime.co.in/).
4. What factors are driving the premium in the grey market? A: Several factors may be contributing to the premium, including the strong fundamentals of the company, the oversubscription of the IPO, and the positive sentiment towards the fintech sector.
5. What are the key takeaways from the Mobikwik IPO? A: The successful IPO of Mobikwik highlights the growing investor appetite for fintech companies in India. It also validates the company's business model and growth prospects.
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