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.

The IPO of One MobiKwik Systems Limited was quickly oversubscribed within an hour of bidding, primarily driven by retail and Non-Institutional Investors, as per available data.

ONE-MOBIKWIK-SYSTEMS-IPO:MobiKwik’s $67 million India IPO fully sold in first hour as retail investors rush in

The initial public offering (IPO) of fintech company One MobiKwik Systems got subscribed 7.3 times, receiving an overwhelming response from retail investors, on the first day of sale on Wednesday (December 11, 2024).

MobiKwik, the Indian fintech giant, has opened its Initial Public Offering (IPO) with an overwhelming response from investors.

The retail portion of the MobiKwik IPO is booked 6.14 times while the Non-Institutional Investors’ (NIIs) category is subscribed 1.2 times so far. The Qualified Institutional Buyers applied for only 2,

MobiKwik IPO was subscribed 7.32 times on the first day of subscription, with the portion reserved for retail investors booked the highest among the three groups of investors.

MobiKwiks IPO has sparked strong investor interest, being fully subscribed within an hour of its launch. Heres what you need to know about this public issue.

The IPO is entirely a fresh issue of up to Rs 572 crore and will close on December 13, Friday. Singh further added that promoters are not selling any shares in this IPO.