MobiKwik shares settled at Rs 528 per share on the NSE on its debut trade, rising 89.24 percent from its IPO price of Rs 279 apiece.
MobiKwik stock listed with a premium of nearly 60 percent on December 18 after a bumper response to its three-day share sale in the primary market last week.
Fintech firm One MobiKwik Systems Ltd stock listed at Rs 440 per share on the NSE, a significant premium of 57.71 percent against the issue price of Rs 279. The company's market valuation stood at Rs 3,890.14 crore post listing of the shares.
At the BSE, the shares of the company were listed at Rs 442.25 per share, a premium of 58.51 percent.
The public issue of One MobiKwik Systems Ltd had seen demand soaring to 119.38 times at a price range of Rs 265-279 per share with investors bidding for over 141 crore shares against 1.18 crore shares on offer, generating a demand of Rs 39,542 crore crore.
MobiKwik shares poised for strong stock market debut on Dec 18; analysts recommend 'long-term hold'
One Mobikwik Systems Limited is a platform business at its core, that has a two-sided payments network, consisting of consumers and merchants. The company’s aim is to leverage technology as the primary factor to facilitate financial inclusion for the underserved population in India.
Narendra Solanki, Head of Fundamental Research - Investment Services at Anand Rathi Shares said at the upper band company is valuing at 155x its FY24. "We believe that the issue is richly priced and recommend “Subscribe – Long Term” rating to the IPO."
The public issue by the Gurugram-based firm was entirely a fresh issuance of equity shares worth up to Rs 572 crore with no offer-for-sale (OFS) component.
The company ranked third on the registered number of wallet users, which amounts to 135.41 million users as of FY24.
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