Mobikwik Systems Stock Soars 58% on Debut
By Rediff Money Desk, New Delhi Dec 18, 2024 10:30
One Mobikwik Systems' stock made a strong market debut, jumping over 58% on Wednesday. The fintech firm's IPO was heavily oversubscribed, indicating strong investor confidence.

Photograph: Kind courtesy Mobikwik/Instagram
New Delhi, Dec 18 (PTI) Shares of fintech firm One Mobikwik Systems Ltd on Wednesday listed with a huge premium of over 58 per cent against the issue price of Rs 279.
The stock began the trade at Rs 442.25, reflecting a jump of 58.51 per cent from the issue price on the BSE. Later, it zoomed 87.81 per cent to Rs 524.
At the NSE, shares of the firm listed at Rs 440, surging 57.70 per cent.
The company's market valuation stood at Rs 3,435.68 crore.
The initial public offer of One MobiKwik Systems Ltd received a staggering 119.38 times subscription on Friday, amid an overwhelming participation from investors.
The Rs 572-crore initial share sale had a price band of Rs 265-279 per share.
The public issue had a fresh issuance of equity shares worth up to Rs 572 crore with no Offer-for-Sale (OFS) component.
This was the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021.
Founded by Bipin Preet Singh and Upasana Taku, MobiKwik -- the company's flagship application -- provides consumers access to various payment options and financial products in digital credit, investments and insurance.
The stock began the trade at Rs 442.25, reflecting a jump of 58.51 per cent from the issue price on the BSE. Later, it zoomed 87.81 per cent to Rs 524.
At the NSE, shares of the firm listed at Rs 440, surging 57.70 per cent.
The company's market valuation stood at Rs 3,435.68 crore.
The initial public offer of One MobiKwik Systems Ltd received a staggering 119.38 times subscription on Friday, amid an overwhelming participation from investors.
The Rs 572-crore initial share sale had a price band of Rs 265-279 per share.
The public issue had a fresh issuance of equity shares worth up to Rs 572 crore with no Offer-for-Sale (OFS) component.
This was the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021.
Founded by Bipin Preet Singh and Upasana Taku, MobiKwik -- the company's flagship application -- provides consumers access to various payment options and financial products in digital credit, investments and insurance.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.47 (+ 2.05)
- 61048233
- Thinkink Picturez
- 0.45 ( 0.00)
- 22664084
- G G Engineering
- 1.22 ( -3.94)
- 18109205
- Srestha Finvest
- 0.69 ( -1.43)
- 12131937
- Hathway Cable & Data
- 14.75 ( -2.12)
- 11583833
MORE NEWS
VA Tech WABAG Wins Rs 3,251 Crore Sewage...
VA Tech WABAG secures a USD 371 million (Rs 3,251 crore) order for a 200 MLD...

Prestige Estates Plans Rs 30K Cr Housing Launch...
Prestige Estates to launch Rs 30,000 crore worth of housing projects in Q4 FY25,...

Madhya Pradesh Attracts Rs 1.8 Lakh Cr...
Madhya Pradesh CM Mohan Yadav secured Rs 1.8 lakh crore in investment commitments ahead...