Mobikwik Shares List on the BSE and NSE for a 59% Premium

On Wednesday, December 18, 2024, One Mobikwik Systems stock made a strong debut on D-Street. Mobikwik shares were launched on the BSE at Rs 442.25 apiece, representing a 58.51 percent premium over the IPO allotment price of Rs 279.

Mobikwik shares were launched on the National Stock Exchange (NSE) at Rs 440, representing a somewhat smaller premium of 57.70 percent per share over the issue price. Thus, with the listing, investors who received Mobikwik shares during the IPO rounds profited by around Rs 163.25 per share.

Mobikwik's IPO offering meets grey market expectations. Mobikwik's unlisted shares were quoted trading at Rs 439 each before listing on Wednesday, indicating a grey market premium (GMP) of Rs 160, or 57.35 percent, above the issue price of Rs 279, according to individuals following grey market activity.

Following the listing, Shivani Nyati, head of wealth at Swastika Investmart, stated that the company's recent turn to profitability, together with the growing usage of digital payments, increased market confidence. She feels that the company's ability to retain profitability and carve out a position in the competitive fintech market will be critical to maintaining its momentum.

The Mobikwik IPO is a completely new offering of 20,501,792 shares valued at up to Rs 572 crore. The public offering was priced at Rs 265-279 per share, with a lot size of 53.

Investor demand in Mobikwik's first public offering (IPO) was so strong that it was oversubscribed 119.38 times by the time the subscription window closed on Friday, December 13, 2024. On Monday, December 16, 2024, the basis for distributing Mobikwik IPO shares was then finalized.

The fintech business Mobikwik offers pre-paid digital wallets and online payment services. The business offers a range of payment methods, enabling customers to make purchases from both online and physical merchants, pay utility bills, and recharge their credit cards and smartphones.