MobiKwik Surges 82% in Market Debut

CosmicTaco · 2024-12-18T12:24:32.491800+05:30

- MobiKwik's shares soared 82% on its first trading day, reaching ₹507.5 ($6) per share, boosting its market value to $464 million. - Despite the successful debut, the valuation is still lower than the $924 million achieved in a 2021 private fundraising round. - Founded 15 years ago, the digital payments firm serves 161 million users and 4.26 million merchants, but faces tough competition from UPI. Source: [Techcrunch](https://techcrunch.com/2024/12/17/mobikwik-surges-82-in-india-market-debut/)

MobiKwik's shares soared 82% on its first trading day, reaching ₹507.5 ($6) per share, boosting its market value to $464 million.
Despite the successful debut, the valuation is still lower than the $924 million achieved in a 2021 private fundraising round.
Founded 15 years ago, the digital payments firm serves 161 million users and 4.26 million merchants, but faces tough competition from UPI.

Source: Techcrunch