Mobikwik

Mobikwik Makes Strong Debut, Shares Open 58% Above ₹279 IPO Price on BSE and NSE, High-Impact Entry

 

The fintech leader, Mobikwik, debuted on the stock market today in a stunning manner. Its shares opened at ₹442.25 on the Bombay Stock Exchange, posting a 58.51% premium over the allotment price of ₹279 in the IPO. The listing price on the National Stock Exchange was ₹440, posting a 57.70% premium.

The IPO received an overwhelming response. The IPO was oversubscribed to the tune of 119.38 times, which proved that investors were quite confident of the company's growth story. The grey market premium was in line with this expectation and was at ₹439, which meant a similar premium.

 

Investor Returns and Market View

 

Early investors have pocketed the handsome gains, with each share delivering a profit of around ₹163.25 at the opening price. Analysts say that the healthy listing reflects the company's newfound profitability and the rising usage of digital payment services.

The same is also being carried forward today with caution; however, it remains challenging. Wealth at Swastika Investmart Head Shivani Nyati asked investors to book some profit if they choose to hold. She said a stop loss could be placed at ₹400 to curb risks.

 

The Vision behind mobikwik's IPO

 

The proceeds from the ₹572 crore IPO will be utilized to expand Mobikwik. The company plans to strengthen its financial and payment services further and invest in new-age technologies like data analytics, artificial intelligence, and machine learning.

MobiKwik will also be spending on capital expenditure for its payment devices business to gain a competitive advantage in the fast-evolving fintech sector.

 

A Leading Player in Digital Payments

 

Best known for its versatile digital wallet and payment platform, Mobikwik remains very buoyant in the growing digital economy across India. This portal allows consumers to pay for bills, recharge services, and shop through all sorts of online as well as offline merchants.

Stellar Market Debut Indicates Massive Opportunities for Fintech Player Mobikwik, But Further Reflects Growth Trend For Fintech in the Indian Markets.