MobiKwik stock performance after IPO
After doing its initial public offering (IPO), widely popular Indian fintech startup MobiKwik has had a significant effect on the stock market. On 18 December 2024, the company’s equity was listed on the BSE at ₹442.25, a substantial 58.5% premium over the issue price of ₹279. Relegating the earlier extraordinary start, the price closed at ₹530.30 90.07% increase on the first day.
Shares of MobiKwik jumped an additional 14% to a new high of ₹605 in the second trading hour on December 19. In just 2 days, this grew the total appreciation by more than 116.8% above the IPO price, which provided early investors with a substantial returns.
Not only the IPO received considerable attention, it was 125.69 times oversubscribed. The realization of the company’s strong financial performance and the rapid growth of India’s digital payments market were the main forces behind such a massive demand. The excellent business strategy and market presence of MobiKwik were demonstrated by growth of both sales by 59% from the previous year and profit after taxes by 117% on the year ending 31st March 2024.
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MobiKwik stock performance after IPO
Analysts have attributed MobiKwik’s market debut to the fact that its offerings are broad and have proven to be popular with customers at the time of digital transformation in India and encompass digitally stored funds, credit facilities and investment products, among others. Due to over 161 million users and a merchant base of over 4.26 million, the reach and impact of the company’s business in the fintech space is further highlighted.
Experts highlight that MobiKwik’s can maintain profitability and its commercial negotiations to survive in the cutthroat fintech industry, will largely determine the longevity of that expansion. Investors and market experts will be keenly monitoring the company’s success going forward as it looks to take advantage of India’s growing digital payments market.
In sum, MobiKwik’s post IPO has been phenomenal, with its stock returning multibagger profits in a short period of time. The company’s robust financial performance, supported by the growing digital economy in India, warrants positive outlook for long term growth, as long as the company stays innovative and responsive to market forces.
