<p>New Delhi: The <a href="https://www.deccanherald.com/tags/ipo">initial public offering (IPO)</a> of fintech company One <a href="https://www.deccanherald.com/tags/mobikwik">MobiKwik</a> Systems got fully subscribed within an hour of opening of the issue on Wednesday.</p>.<p>The initial share sale received bids for 2,16,17,852 shares, as against 1,18,71,696 on offer, translating into 1.82 times subscription, as per data available with NSE till 11:40 hours.</p>.<p>Retail Individual Investors (RIIs) subscribed 7.69 times, while the Non-Institutional Investors (NIIs) portion received 1.55 times subscription.</p>.<p>One MobiKwik Systems on Tuesday said it garnered Rs 257 crore from anchor investors.</p>.<p>The Rs 572-crore IPO is available for public subscription during December 11 to 13.</p>.<p>The company has fixed the price band of Rs 265-279 per share.</p>.<p>The public issue is entirely a fresh issuance of equity shares worth up to Rs 572 crore with no offer-for-sale (OFS) component.</p>.Vishal Mega Mart collects Rs 2.4K cr from anchor investors; IPO opens for subscription.<p>Proceeds from the fresh issue will be used for organic growth in its financial services business, for expanding its payment services and for research and development in AI, machine learning, and technology.</p>.<p>Funds will also be used for capital expenditure on payment devices.</p>.<p>MobiKwik, the company's flagship application, provides consumers access to various payment options and financial products in digital credit, investments, and insurance.</p>.<p>This is the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021. Earlier, the company shelved its IPO plans and withdrew its draft papers due to unfavourable market conditions.</p>.<p>It was founded by Bipin Preet Singh and Upasana Taku.</p>.<p>The company faces stiff competition from major players, including PhonePe, Paytm, Airtel Payments Bank and Freecharge.</p>.<p>The digital payments firm reported a consolidated total income of Rs 890.3 crore in FY24, compared to Rs 561.6 crore in FY23 and Rs 543.2 crore in FY22.</p>.<p>It incurred losses amounting to Rs 128.16 crore and Rs 83.8 crore in FY22 and FY23, respectively. However, for the financial year 2023-24, the company posted a profit of Rs 14.08 crore.</p>.<p>The shares of the company are proposed to be listed on the BSE and NSE. </p>
<p>New Delhi: The <a href="https://www.deccanherald.com/tags/ipo">initial public offering (IPO)</a> of fintech company One <a href="https://www.deccanherald.com/tags/mobikwik">MobiKwik</a> Systems got fully subscribed within an hour of opening of the issue on Wednesday.</p>.<p>The initial share sale received bids for 2,16,17,852 shares, as against 1,18,71,696 on offer, translating into 1.82 times subscription, as per data available with NSE till 11:40 hours.</p>.<p>Retail Individual Investors (RIIs) subscribed 7.69 times, while the Non-Institutional Investors (NIIs) portion received 1.55 times subscription.</p>.<p>One MobiKwik Systems on Tuesday said it garnered Rs 257 crore from anchor investors.</p>.<p>The Rs 572-crore IPO is available for public subscription during December 11 to 13.</p>.<p>The company has fixed the price band of Rs 265-279 per share.</p>.<p>The public issue is entirely a fresh issuance of equity shares worth up to Rs 572 crore with no offer-for-sale (OFS) component.</p>.Vishal Mega Mart collects Rs 2.4K cr from anchor investors; IPO opens for subscription.<p>Proceeds from the fresh issue will be used for organic growth in its financial services business, for expanding its payment services and for research and development in AI, machine learning, and technology.</p>.<p>Funds will also be used for capital expenditure on payment devices.</p>.<p>MobiKwik, the company's flagship application, provides consumers access to various payment options and financial products in digital credit, investments, and insurance.</p>.<p>This is the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021. Earlier, the company shelved its IPO plans and withdrew its draft papers due to unfavourable market conditions.</p>.<p>It was founded by Bipin Preet Singh and Upasana Taku.</p>.<p>The company faces stiff competition from major players, including PhonePe, Paytm, Airtel Payments Bank and Freecharge.</p>.<p>The digital payments firm reported a consolidated total income of Rs 890.3 crore in FY24, compared to Rs 561.6 crore in FY23 and Rs 543.2 crore in FY22.</p>.<p>It incurred losses amounting to Rs 128.16 crore and Rs 83.8 crore in FY22 and FY23, respectively. However, for the financial year 2023-24, the company posted a profit of Rs 14.08 crore.</p>.<p>The shares of the company are proposed to be listed on the BSE and NSE. </p>