Fintech firm One MobiKwik Systems Ltd's IPO was heavily oversubscribed, attracting 119.38 times the expected bids. The share sale raised Rs 572 crore, with strong participation from retail investors,

One MobiKwik Systems'' IPO received a whopping 119.38 times subscription, with strong participation from retail, institutional, and non-institutional investors.

MobiKwik's [ONEM.NS] 5.72 billion-rupee ($67.4 million) IPO was snapped up in under an hour on Wednesday as retail investors flooded in, betting on the Indian fintech firm's long-term prospects in a booming online payments market and short-term gains once the stock lists.

MobiKwik's IPO, seeking to raise Rs 572 crore, saw enthusiastic subscription, exceeding 20 times overall. Retail investors showed particularly strong interest, subscribing 64 times. The proceeds will fuel growth in financial services and AI.

MobiKwik’s IPO continued to see robust demand from investors, with the issue getting oversubscribed 35.59 times on the final day of bidding.

One Mobikwik Systems' IPO received a bid for 1,14,84,94,047 shares or 96.74 times against the total issue size i.e. 1,18,71,696 shares so far on the third-day bidding process until 3:39: pm, according to the data from exchanges. The fintech company's IPO window opened on December 11, 2024, and will be closed today (December 13).

The public issue is entirely a fresh issuance of equity shares worth up to Rs 572 crore with no offer-for-sale (OFS) component.

PM on the third day of bidding, the MobiKwik IPO had received bids for 50 crore shares shares, surpassing the 1.18 crore shares on offer, according to NSE data.

Mobikwik IPO aims to raise ₹572 crore with a price range of ₹265 to ₹279 per share. The issue has seen strong investor interest, being subscribed 20.41 times by the second day. Retail investors can invest a minimum of ₹14,

The grey market premium (GMP) for Mobikwik's IPO surged to Rs 149 on Day 2, up from the previous day, indicating a potential 53.41% listing gain over the upper price band of Rs 279 per share.

Mobikwik's Rs 572 crore IPO saw strong investor interest on its first day, being subscribed 7.3 times. Retail investors led the charge, bidding for 27 times their allocated quota. The company plans to use the proceeds for business growth and lending partner guarantees.