India's MobiKwik surges 58% at pre-open

One Mobikwik Systems

18/12/2024 04:18

Dec 18 (Reuters) - 
    Shares of India's MobiKwik  ONEM.NS  jumped 58% at pre-open
in their market debut on Wednesday as investors bet on the
fintech firm's prospects in the fast-growing online payments
sector.
  
    The stock listed at 440 rupees on the National Stock
Exchange, compared to its offer price of 279 rupees.
     MobiKwik's 5.72 billion rupee ($67 million) initial public
offering (IPO) was subscribed nearly 120 times the 11.9 million
shares on offer, garnering bids worth about $4.7 billion. 

($1 = 84.9220 Indian rupees)

 (Reporting by Nishit Navin; Editing by Sonia Cheema)
 ((Nishit.Navin@thomsonreuters.com;))