Mobikwik IPO sails through in the first hour of launch

Mobikwik, based in Gurgaon, has established a price range of Rs 265 to Rs 279 per share for its initial public offering (IPO) worth Rs 572 crore. As of 12.15 pm, retail investors booked nearly 11 times their allocation, while the total issue was subscribed 2.64 times.

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The public issue of digital payments firm Mobikwik was fully subscribed within the first hour of opening on Wednesday led by strong interest from retail investors . As of 12.15 pm, retail investors booked nearly 11 times their allocation, while the total issue was subscribed 2.

64 times. The non institutional investors portion, which includes corporates and high networth individuals, was subscribed 2.35 times.



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The issue does not include an offer for sale component. The fintech platform had also reduced its valuation significantly to $250 million for the IPO, almost a fourth of its last private fundraise valuation from 2021..