December 18, 2024
New Delhi, India
Mobikwik Makes a Grand D-Street Debut, Surging Over 50% on Listing Day
Mobikwik shares soared on Wednesday, December 18, 2024, marking a stellar debut on Dalal Street. The shares listed at ₹442.25 on the BSE, a premium of 58.51% over the issue price of ₹279. On the NSE, the stock began trading at ₹440, reflecting a 57.71% premium.
The ₹572 crore initial public offering (IPO) of One Mobikwik Systems garnered significant interest, with a massive overall subscription of 119.38 times. Retail investors led the charge with a subscription rate of 134.67 times, while Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) subscribed 119.50 times and 108.95 times, respectively.
The funds raised will be channeled into enhancing financial and payment services, advancing AI and machine learning research, and expanding the company’s payment device infrastructure.
Key Highlights:
- Issue Price: ₹279
- BSE Listing Price: ₹442.25 (58.51% premium)
- NSE Listing Price: ₹440 (57.71% premium)
- Overall Subscription: 119.38 times
According to market analysts, Mobikwik’s recent profitability and the increasing adoption of digital payments have elevated investor confidence. However, experts urge caution. “The high listing gains present an opportunity to book profits. Long-term holders should consider setting a stop loss at ₹400,” suggested Shivani Nyati, Head of Wealth at Swastika Investmart Ltd.
Mobikwik’s strong performance reflects optimism in India’s fintech sector, but sustaining growth will depend on the company’s ability to navigate a competitive landscape while maintaining profitability.
Mobikwik shares were traing 80% higher after debut at 503 a pience on NSE by 10:51 AM IST.
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