MobiKwik's [ONEM.NS] 5.72 billion-rupee ($67.4 million) IPO was snapped up in under an hour on Wednesday as retail investors flooded in, betting on the Indian fintech firm's long-term prospects in a booming online payments market and short-term gains once the stock lists.

ONE-MOBIKWIK-SYSTEMS-IPO:MobiKwik’s $67 million India IPO fully sold in first hour as retail investors rush in

The company that operates wildlife camps and hotels is planning to mobilise Rs 29.42 crore through its initial share sale of 40.86 lakh shares.

MobiKwiks IPO has sparked strong investor interest, being fully subscribed within an hour of its launch. Heres what you need to know about this public issue.

The IPO is entirely a fresh issue of up to Rs 572 crore and will close on December 13, Friday. Singh further added that promoters are not selling any shares in this IPO.

The ₹572-crore initial public offering (IPO) of One MobiKwik Systems was fully subscribed within an hour of the issue's opening on Wednesday. According to data available (until 11:40am) with the National Stock Exchange,

The robust investor interest in Mobikwik's IPO aligns with its strong performance in the grey market. The company's shares are trading at Rs 415 apiece in the unofficial market, representing a grey market premium (GMP) of Rs 136 or a 48.