Mobikwik shares to debut today. Check GMP and analyst predictions
Considering the upper price band of Rs 279, the stock is expected to see a premium of just over 57% on listing.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO of Mobikwik received massive response from investors with an overall subscription of 119 times at close. The Rs 572 crore IPO is completely a a fresh issue of up to 2.05 crore equity shares and the proceeds will be used for growth in financial and payment services, research and development in AI and machine learning, and expansion of payment device infrastructure.
Founded in 2008, MobiKwik operates a dual-sided payments platform catering to over 161 million registered users and 4.26 million merchants as of June 2024. The company offers services spanning digital payments, credit, and investment products.
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