Mobikwik share price debuts at a solid premium of nearly 60%

Mobikwik IPO listing: Mobikwik share price made a solid debut in the Indian stock market on Wednesday, December 18. The stock was listed at ₹442.25 on the BSE, a premium of 58.5 per cent with respect to its issue price of ₹279. The stock further rose on the BSE to hit the level of ₹524, up 88 per cent from its issue price.

On the NSE, the stock opened at ₹440, a premium of nearly 58 per cent and rose to ₹525. Around 10:10 AM, the stock traded at ₹499.60 and ₹499.45 on the BSE and the NSE, respectively.

Track Mobikwik Share Price Live Updates Here

The stock was listed above the grey market's expectations. According to stock market observers, Mobikwik's IPO GMP on Wednesday morning was ₹160 per share. Considering the IPO price of ₹279 and the latest GMP, Mobikwik's listing price was expected to be ₹439 per share, reflecting a premium of 57.35 per cent.

Mobikwik IPO

Mobikwik IPO saw a stellar subscription of 119.38 times on the third and final day, receiving bids for 1,41,72,86,992 shares against 1.18 crore shares on the offer. Attractive pricing of the issue, the company's healthy growth prospects and its brand value were the key positives that attracted investors towards the mainboard issue.

The company became profitable at the EBITDA and PAT levels in FY24. Besides, experts pointed out its Payment GMV grew at an annual rate of 45.9 per cent, and MobiKwik ZIP GMV (Disbursements) grew at an annual rate of 112.2 per cent between FY22 and FY24.

The Mobikwik IPO opened for subscription from December 11 to December 13. The fintech company had a fixed price band of ₹265 to ₹279 per equity share.

SBI Capital Markets and DAM Capital Advisors were appointed as the book-running lead managers of the public issue.

In FY24, the fintech company's revenue grew by around 59 per cent year-on-year (YoY), whereas Profit After Tax (PAT) shot up nearly 117 per cent.

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