Strong Market Entry for One MobiKwik Systems Ltd

One MobiKwik Systems Ltd, a prominent fintech company, made a remarkable market debut on Wednesday, closing at a 90% premium above its issue price of Rs 279. The company's stock began trading at Rs 442.25 on the BSE, marking a 58.51% increase from the issue price. By the day's end, the stock reached Rs 530.30.

Similarly, on the NSE, the shares started at Rs 440, reflecting a 57.70% rise, and concluded at Rs 528, showcasing an 89.24% increase. This surge propelled the company's market capital to Rs 4,119.71 crore.

Market Trends and IPO Performance

Despite the positive debut of One MobiKwik Systems Ltd, the broader market indicators showed a downtrend. The BSE benchmark fell by 502.25 points or 0.62% to close at 80,182.20, marking its third consecutive day of decline. Meanwhile, the NSE Nifty dropped by 137.15 points or 0.56% to 24,198.85.

Earlier, the company's IPO received an overwhelming response, being subscribed 119.38 times. The Rs 572-crore initial share offering was priced between Rs 265-279 per share, consisting entirely of fresh equity shares worth Rs 572 crore.

About One MobiKwik Systems Ltd

Founded by Bipin Preet Singh and Upasana Taku, One MobiKwik Systems Ltd operates MobiKwik, a primary application offering users a variety of payment solutions and financial products including digital credit, investments, and insurance.