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Fintech Firm One Mobikwik Systems Ltd Sees Shares Surge Over 58% on First Trading Day
Fintech Firm One Mobikwik Systems Ltd Sees Shares Surge Over 58% on First Trading Day
Fintech company One Mobikwik Systems Ltd witnessed a significant surge in share prices, rising over 58% to Rs 524 on the first trading day.
Shares of One Mobikwik Systems Ltd, a fintech company, made an impressive debut on Tuesday, witnessing a significant surge of over 58 per cent from its issue price of Rs 279. The stock opened at Rs 442.25 on the Bombay Stock Exchange (BSE), reflecting a 58.51 per cent premium. It reached an intraday high of Rs 524, registering a jump of 87.81 per cent during the session.
On the National Stock Exchange (NSE), the shares listed at Rs 440, marking a 57.70 per cent rise compared to the issue price. The market capitalization of the company was recorded at Rs 3,435.68 crore following the strong performance.
The initial public offering (IPO) of One Mobikwik Systems Ltd attracted robust investor interest, achieving a subscription rate of 119.38 times on Friday. The Rs 572-crore IPO was priced within a band of Rs 265 to Rs 279 per share and consisted entirely of a fresh issue of equity shares, with no Offer-for-Sale (OFS) component.
This marked the second public issue attempt for the Gurugram-based company after an earlier attempt in July 2021. The strong market response underscored the confidence of investors in the company’s business model and growth prospects.
Founded by Bipin Preet Singh and Upasana Taku, One Mobikwik Systems Ltd operates through its flagship application, MobiKwik. The platform provides users with access to digital payment solutions, credit products, insurance services, and investment options.
The company’s strong debut reflects the growing interest in fintech firms offering digital financial services, a sector that has seen rapid adoption in recent years.
