Shares of One MobiKwik Systems Ltd., the parent company of fintech services platform MobiKwik, have experienced a remarkable run on the stock market since their debut. The stock, which began trading at ₹440 per share, a 58% premium to its IPO price of ₹279, has nearly doubled in value in just two days of trading.
On its first trading day, MobiKwik’s shares surged by 90% from the IPO price, closing at ₹532 per share. The rally continued on the second day (today), with the stock trading nearly 7% higher, reaching ₹561.95 as of Thursday morning. This robust performance has cemented MobiKwik’s position as one of the most successful IPOs in recent times.
Highlights of MobiKwik’s Market Debut:
- IPO Details:
- The IPO was priced in a band of ₹265 to ₹279 per share.
- The ₹572 crore IPO comprised a complete fresh issue of shares.
- The offering received overwhelming demand, with a subscription rate of nearly 120 times the shares on offer, generating bids worth ₹40,000 crore.
- Listing Day Performance:
- Shares listed at ₹440, reflecting a 58% premium to the issue price.
- The Grey Market Premium (GMP) prior to listing indicated a price of ₹445, closely matching the actual debut price.
- The stock closed 90% higher than the issue price on the first day.
- Second Day Momentum:
- The stock continued its upward trajectory, gaining nearly 7% on the second day, as strong buying interest persisted.
The strong debut reflects investors’ confidence in MobiKwik’s growth potential in the fintech space. The company’s IPO was one of the most oversubscribed in recent months, and its Grey Market Premium of ₹166 prior to listing hinted at the stellar performance that followed.
Reports prior to the IPO’s debut indicated a GMP of ₹166, suggesting a listing price of approximately ₹445. The actual listing price closely aligned with this, underscoring the speculative yet predictive nature of GMP in this instance.
MobiKwik’s debut and subsequent performance on the stock market showcase the company’s strong fundamentals and robust investor interest. With its share price doubling within two days of trading, MobiKwik has delivered significant returns for its IPO investors, reinforcing confidence in the fintech sector’s potential for growth.
