New Delhi: Shares of fintech firm One Mobikwik Systems Ltd on Wednesday listed with a huge premium of over 58 per cent against the issue price of Rs 279.
The stock began the trade at Rs 442.25, reflecting a jump of 58.51 per cent from the issue price on the BSE. Later, it zoomed 87.81 per cent to Rs 524.
At the NSE, shares of the firm listed at Rs 440, surging 57.70 per cent.
The company’s market valuation stood at Rs 3,435.68 crore.
The initial public offer of One MobiKwik Systems Ltd received a staggering 119.38 times subscription on Friday, amid an overwhelming participation from investors.
The Rs 572-crore initial share sale had a price band of Rs 265-279 per share.
The public issue had a fresh issuance of equity shares worth up to Rs 572 crore with no Offer-for-Sale (OFS) component.
This was the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021.