MobiKwik’s shares jump
the Indian fintech company, saw an impressive debut on the stock market, with its shares surging 85% on the first day of trading. This significant jump has brought the company’s valuation to approximately ₹40 billion (₹4,000 crore).
Key Highlights:
- IPO Performance: The strong debut reflects robust investor interest in the company, likely driven by its position in the growing digital payments and fintech ecosystem in India.
- Market Sentiment: The rally suggests optimism about the growth potential of digital payment platforms, especially with India’s increasing shift toward a cashless economy.
- Business Model: MobiKwik offers a variety of financial services, including digital wallets, payments solutions, and Buy Now, Pay Later (BNPL) offerings, which have gained traction among users.
- Industry Context: The listing comes amid rising interest in India’s fintech space, with peers like Paytm, PhonePe, and BharatPe also gaining attention.
a prominent Indian fintech company, made a remarkable entry into the stock market on December 18, 2024. Its shares surged by 85% on the first day, elevating the company’s valuation to approximately ₹40 billion.
IPO Details:
- Issue Size: The Initial Public Offering (IPO) aimed to raise ₹572 crore, with shares priced between ₹265 and ₹279 each. Chittorgarh
- Subscription Rate: The IPO garnered significant interest, being oversubscribed about 120 times, indicating strong investor confidence in MobiKwik’s business model and growth prospects. Reuters
- Listing Performance: Shares debuted at ₹440 on the National Stock Exchange, a 57% premium over the issue price, and continued to rise, reflecting robust demand. Times of India
Financial Performance:
- Revenue Growth: In the fiscal year 2021-2022, MobiKwik reported revenues of ₹540 crore, marking an 80% year-over-year increase. MobiKwik Documents
- Profitability: The company achieved a profit of ₹14.1 crore in the last financial year, a significant turnaround from a loss of ₹83.8 crore in fiscal 2023. NDTV Profit
Market Context:
MobiKwik’s successful listing underscores the growing investor interest in India’s fintech sector. The digital payments market in India is expanding rapidly, with transaction values projected to rise from ₹265 trillion in 2023-24 to ₹593 trillion by 2028-29.
The company’s strong market debut reflects its solid financial performance and the positive outlook for the fintech industry in India.
MobiKwik’s IPO and Market Debut
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