Mobikwik IPO subscribed 17 times, driven by retail investors
Mobikwik Systems, which runs the digital payment application Mobikwik, saw its initial public offering being subscribed 17 times at the end of the second day, data from the BSE showed.
Showing healthy demand from investors, the retail portion of the IPO was subscribed 58 times, while the non-institutional portion was booked 22 times. However, institutional buyers are yet to fully subscribe to the shares reserved for them.
The IPO saw full subscription in the first few hours of its opening on Wednesday.
According to data released by the BSE on Thursday, out of the 11 million shares that are open to public investors, bids have been received for 226 million.
Mobikwik is looking to raise Rs 572 crore through the public issue, which is its second attempt to list the company in bourses. While the Gurugram-based startup had first decided to raise Rs 700 crore in its January prospectus filed with markets regulator Sebi, it eventually trimmed the size of the issue to Rs 572 crore.
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