Shares of One Mobikwik Systems opened around 9 percent higher on December 19, a day after listing on both exchanges. At 9:44 am, the stock was trading around 12 percent higher at Rs 588.
On December 18, the stock had a bumper debut on both bourses, listing at Rs 442.25, at a 58.5 percent premium against the offer price of Rs 279. During the day, the stock hit the upper circuit, One Mobikwik Systems closed at Rs 530.70, a 20 percent increase from the listing price. The current market cap of Mobikwik is now pegged at Rs 3,870 crore.
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In a post-IPO comment, Bajaj Broking noted that this strong demand reflects investor confidence in MobiKwik’s growth potential within India's expanding online payment market. "The fintech sector is expected to grow significantly, which positions MobiKwik to capitalize on this upward trend. Overall, the successful listing indicates robust market interest and optimism regarding MobiKwik’s future in the fintech industry," the brokerage said.
In an earlier conversation with Moneycontrol, Digital payments and financial services platform MobiKwik's MD and CEO Bipin Preet Singh said the company is now graduating to a more sustainable, profitable growth model and has been re-investing margins back into the business in order to fuel expansion. The company, he said plans to introduce more products and services in the coming years in its pursuit to become a comprehensive fintech platform.
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