Fri Dec 13 01:48:06 UTC 2024: **MobiKwik IPO Oversubscribed, Commands High Grey Market Premium**

MUMBAI, INDIA – MobiKwik’s Rs 572-crore initial public offering (IPO) was fully subscribed within its first hour on December 11th, exceeding expectations. The IPO, priced between Rs 265-279 per share, saw 7.31 times oversubscription on its first day, with strong interest from retail individual investors (26.69 times oversubscription) and non-institutional investors (8.97 times oversubscription). Anchor investors contributed Rs 257 crore before the public offering began.

The fintech company’s shares are slated to list on the NSE and BSE on December 18th. Unofficial grey market premiums are indicating a potential listing gain of around 50%, with some sources quoting a premium of Rs 136 per share.

This strong investor interest comes amidst a booming online payments market in India. MobiKwik, which counts Bajaj Finance, Peak XV, and Abu Dhabi Investment Authority as existing shareholders, is offering only new shares in the IPO.

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