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.

According to stock market observers, the company’s shares are available at a premium of ₹132 in the grey market today.

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.

MobiKwik's IPO was fully subscribed within hours, with a subscription rate of 2.61 times by 11:11 AM on the first day. Retail investors subscribed 10.88 times, while non-institutional investors subscribed 2.

Mobikwik shares were trading at Rs 415 apiece, reflecting a grey market premium (GMP) of Rs 136 or 48.75 per cent per share

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

The initial public offering (IPO) of One MobiKwik Systems Limited has hit the primary market, opening today, December 11, 2024, and running through December 13, 2024. The fintech company, known for its digital payment and financial services platform,

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.

The initial public offering (IPO) of the digital payments platform One MobiKwik Systems will begin accepting public subscriptions on December 11, aiming to raise Rs 572 crore from the primary market.