Mobikwik Debuts at a Premium of 58%

MobiKwik made a stellar debut on the bourses as the shares opened 58.6% higher than its issue price in the initial public offering. Currently, the shares of the company are trading at ₹523.30.

On BSE the shares started trading at ₹442.25 as compared to IPO price of ₹279, while it opened at ₹440 on the NSE, up by 57.7%.The company raised ₹572 crore through the public issue.

The IPO received bids to the tune of 120 times where Retail investors and non-institutional investors subscribed by 134 times and 108 times respectively. Institutional investors subscribed 119.5 times, BSE data said.

During FY24, the operating revenue shot up by 62% YoY at ₹875 crore. Previously, Mobikwik raised Rs 257.4 crore from anchor investors