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Journalism of Courage
Shares of fintech firm One Mobikwik Systems Ltd on Wednesday listed with a huge premium of over 58 percent against the issue price of Rs 279.
The stock began the trade at Rs 442.25, reflecting a jump of 58.51 percent from the issue price on the BSE. Later, it zoomed 87.81 percent to Rs 524.
At the NSE, shares of the firm listed at Rs 440, surging 57.70 percent.
The company’s market valuation stood at Rs 3,435.68 crore.
The initial public offer of One MobiKwik Systems Ltd received a staggering 119.38 times subscription on Friday, amid overwhelming participation from investors.
The public issue had a fresh issuance of equity shares worth up to Rs 572 crore with no Offer-for-Sale (OFS) component.
This was the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021.
Founded by Bipin Preet Singh and Upasana Taku, MobiKwik, the company’s flagship application provides consumers access to various payment options and financial products in digital credit, investments, and insurance.
