🔸 India’s MobiKwik surges 82% in market debut
MobiKwik, an Indian digital payments firm, saw its shares surge 82% to ₹507.5 ($6) on its market debut following a $69 million IPO. This increase pushed its market value to $464 million, surpassing its initial target of $250 million, though still below the $924 million valuation from a 2021 fundraising round.
Founded 15 years ago by Upasana Taku and Bipin Singh, MobiKwik has built a popular digital wallet platform but faces intense competition, particularly from the widely adopted UPI payment system. The company claims a user base of 161 million and serves over 4 million merchants. MobiKwik's successful listing highlights the current vibrancy of India's IPO market, with over 20 startups planning to go public next year.
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MobiKwik, an Indian digital payments firm, saw its shares surge 82% to ₹507.5 ($6) on its market debut following a $69 million IPO. This increase pushed its market value to $464 million, surpassing its initial target of $250 million, though still below the $924 million valuation from a 2021 fundraising round.
Founded 15 years ago by Upasana Taku and Bipin Singh, MobiKwik has built a popular digital wallet platform but faces intense competition, particularly from the widely adopted UPI payment system. The company claims a user base of 161 million and serves over 4 million merchants. MobiKwik's successful listing highlights the current vibrancy of India's IPO market, with over 20 startups planning to go public next year.
💬 Source
📌 Powered by V3V Ventures