MobiKwik share price jumps 117% in 2 days vs issue price amid strong demand

MobiKwik's shares made its debut on Wednesday, December 18, 2024. Notably, the share has rallied 36.80 per cent in two days

MobiKwik share price: One Mobikwik Systems (MobiKwik) once again captured the attention of investors on Thursday, as the share price of the fintech company skyrocketed up to 14.08 per cent in intraday deals, hitting an all-time high of Rs 605 on the BSE. The stellar performance in the share came today, even as the overall stock market sentiment remained subdued. 

 

However, at 10:30 AM, MobiKwik share was trading 8.83 per cent higher at Rs 577.10 per share. In comparison, BSE Sensex was trading 1.09 per cent lower at 79,304.91 levels.

 

MobiKwik shares made its debut on Wednesday, December 18, 2024. Notably, the share has rallied 36.80 per cent in two days. The shares have also gained 116.84 per cent from its issue price of Rs 279. 

 

One Mobikwik Systems D-Street debut

 

MobiKwik had made a strong debut on the stock market the previous day, Wednesday, December 18, 2024. The shares listed at Rs 442.25 on the BSE, a significant 58.51 percent premium over the IPO allotment price of Rs 279. On the National Stock Exchange (NSE), the stock debuted at Rs 440, offering a slightly lower premium of 57.70 percent. Investors who had been allotted MobiKwik shares during the IPO saw a profit of around Rs 163.25 per share, marking a successful and profitable listing for many.

 

The combined effect of positive market sentiment, short covering, and the solid debut has set MobiKwik on an exciting trajectory, with investors eager to see what comes next for the fintech company.

 

Strong fundamentals 

 

MobiKwik achieved its third consecutive profitable quarter, posting a 52 per cent growth in revenues compared to the same period in FY23. In the July to September quarter (Q2FY24), MobiKwik reported a revenue of Rs 208 crore, reflecting a 17 per cent increase from the previous quarter, along with a Profit After Tax (PAT) of Rs 5 crore.

 

For the first half of FY24, MobiKwik saw a 58 per cent rise in revenues, at Rs 385 crore, while its PAT stood at Rs 8 crore for the April to September period. 

 

About One Mobikwik Systems

 

One Mobikwik Systems (Mobikwik) is a technology-driven company that specializes in digital financial services and payment solutions. As of June 2024, the company has built a substantial user base of over 161 million and a wide merchant network of 4.26 million. Offering a range of services, including digital payments, credit facilities, and investment products, MobiKwik caters to a diverse and growing customer base.