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MobiKwik rises 82% in market debut
MobiKwik, an Indian digital payments company, saw its shares rise by 82% to 507.5 rupees (US$6) on its first trading day, bringing its market capitalization to US$464 million.
The Gurugram-based company had aimed for US$250 million in its public offering.
This valuation is lower than the US$924 million achieved in a 2021 private fundraising round.
Founded 15 years ago by Upasana Taku and Bipin Singh, MobiKwik has built a digital wallet platform with 161 million users and 4.26 million merchant partners.
Recent MobiKwik developments
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06-Dec-2024 📉 MobiKwik cuts over 70% valuation after reduced IPO target
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05-Jan-2024 🚀 MobiKwik to raise $84.2m in India IPO
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29-Nov-2023 💰 MobiKwik teams up with DAM, SBI for potential $84m IPO
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08-Oct-2021 📈 India Roundup: Mobikwik gets Indian regulator nod for $255m IPO, and other news
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22-Mar-2021 🚀 Sources: MobiKwik targets up to $250m in IPO on Indian exchange
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