One MobiKwik Systems Ltd Shares Skyrocket with Stellar Market Debut

One MobiKwik Systems Ltd, a fintech firm, saw its shares surge by 90% on their stock market debut. The IPO received a high subscription rate, highlighting strong investor interest. With no Offer-for-Sale component, the company aims to expand its digital payment and financial services.

Fintech firm One MobiKwik Systems Ltd experienced a remarkable stock market debut, ending nearly double its issue price. On the BSE, shares opened at Rs 442.25, leaping 58.51% from the issue price of Rs 279 and closing at Rs 530.30, representing a 90.07% increase.

On the NSE, the stock started at Rs 440 and ended at Rs 528, marking an 89.24% rise. The company's market capitalization is now valued at Rs 4,119.71 crore. In trading volumes, 26.03 lakh shares were exchanged on the BSE and 295.75 lakh on the NSE.

This follows an IPO subscription rate of 119.38 times, with a price band of Rs 265-279 per share. There was no Offer-for-Sale component, a strategic move in this second attempt at a public offering by the company, founded by Bipin Preet Singh and Upasana Taku.

(With inputs from agencies.)