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.

MobiKwik IPO was subscribed 7.32 times on the first day of subscription, with the portion reserved for retail investors booked the highest among the three groups of investors.

MobiKwik, the Indian fintech giant, has opened its Initial Public Offering (IPO) with an overwhelming response from investors.

The initial public offering (IPO) of fintech company One MobiKwik Systems got subscribed 7.3 times, receiving an overwhelming response from retail investors, on the first day of sale on Wednesday (December 11, 2024).

A 100 per cent book-built offer of 2.05 crore shares is part of the Rs 572 crore Mobikwik IPO issue size. 10 per cent of the issue size has been distributed to retail shareholders, 15 per cent to non-institutional investors, and 75 per cent to qualified institutional buyers (QIBs).

The IPO of One MobiKwik Systems Limited was quickly oversubscribed within an hour of bidding, primarily driven by retail and Non-Institutional Investors, as per available data.

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.