MobiKwik IPO Listing Highlights: Stock nearly doubles from its issue price at the end of its trading debut

MobiKwik IPO Listing Live: Shares of One MobiKwik Systems Ltd., parent company of fintech services platform MobiKwik, will be making their stock market debut on Wednesday, December 18. The ₹572 crore IPO, which was a complete fresh share issue, saw strong demand from investors during the three-day bidding process. The IPO saw overall subscription of close to 120 times the total shares on offer, resulting in bids worth nearly ₹40,000 crore.

MobiKwik IPO Listing Live: Shares of One MobiKwik Systems Ltd., parent company of fintech services platform MobiKwik, ended their trading debut with gains of 90% from their IPO price. The stock nearly doubled on its first day as a public company in comparison to its IPO price of ₹279. The ₹572 crore IPO, which was a complete fresh share issue, saw strong demand from investors during the three-day bidding process. The IPO saw overall subscription of close to 120 times the total shares on offer, resulting in bids worth nearly ₹40,000 crore. MobiKwik had fixed the price band between ₹265 to ₹279 per share. Reports are currently indicating a Grey Market Premium (GMP) of ₹166, which implies a potential listing price of ₹445 per share, which is a 60% premium to the upper end of the IPO price. However, GMP is never an indicator of the actual listing price as it is speculative in nature.