Mon Dec 16 20:09:40 UTC 2024: ## Mobikwik IPO Oversubscribed 125 Times, Trading at Significant Premium in Grey Market
**Mumbai, December 16, 2024** – The Mobikwik Initial Public Offering (IPO), which closed on December 13th, has been massively oversubscribed, attracting bids 125.69 times the number of shares on offer. The IPO, priced between ₹265 and ₹279 per share, raised ₹572 crore. Trading in Mobikwik shares will begin on the BSE SME platform in December.
The digital payments firm’s IPO has generated significant buzz in the grey market, currently trading at a premium of ₹165 per share. This indicates a potential listing price of ₹444, representing a potential profit of approximately 59.14% for investors on the listing day. However, market experts advise investors to base their decisions on the company’s financial health rather than solely relying on grey market indicators.
Mobikwik, founded by Bipin Preet Singh and Upasana Taku, boasts 16.1 crore users and 42.6 crore merchants on its platform as of June 30, 2024. The company reported a revenue of ₹875 crore for the fiscal year 2024.
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