MobiKwik stock settles at 90% premium on listing day
One MobiKwik Systems Listing Day Gain: One Mobikwik Systems shares made a stellar entry into the secondary market on December 18, with the stock debuting at a premium of up to 58.5 per cent on the exchanges. The stock finished the listing day at a premium of up to 90 per cent. Read on to learn more about the newly-listed MobiKwik stock.
One MobiKwik Systems Listing Day Gain: One MobiKwik Systems shares—now traded with the symbol MOBIKWIK on stock exchanges BSE and NSE—made a stellar entry into the listed space on Wednesday, December 18, with the digital banking platform stock debuting at a premium of 57-58 per cent over the issue price. At the end of its first day in the secondary market, MobiKwik shares stood at standing at Rs 530.3 apiece on BSE and Rs 528 apiece on NSE, a premium of 89-90 per cent over the issue price.
The stellar listing for the One MobiKwik Systems stock follows strong demand for the company's IPO, which was open for subscription from December 11 to December 13.
MobiKwik IPO Highlights
At the end of the three-day bidding process, the IPO secured an overall subscription of 119.4 times the shares on offer, according to provisional exchange data.
| Investor category | Subscription (No. of times the equity reserved) |
| Qualified institutional buyers (QIBs) | 119.5 |
| Non-institutional investors (NIIs) | 109 |
| Retail investors | 134.7 |
| Overall | 119.4 |
During the session, the stock hit a high of Rs 530.7 apiece on BSE, a premium of 90.2 per cent over the issue price.
What market wizard Anil Singhvi suggests
Zee Business Managing Editor Anil Singhvi, who predicted a strong listing for MobiKwik, is positive on the stock from a long-term perspective.
He suggests long-term investors hold the stock.
ALSO READ: Vishal Mega Mart ends listing day at 43.5% premium; catch key takeaways on latest market debutants
Anchor investors
Prior to the IPO, One Mobikwik Systems mobilised Rs 257.4 crore by allotting shares to anchor investors including Morgan Stanley and Government Pension Fund Global.
What does MobiKwik do?
MobiKwik offers a wide range of financial products for both consumers and merchants, including payments, digital credit and investments, according to its website.
Catch all the latest stock market updates here. For all other news, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.