MobiKwik's shares surged 82% to ₹507.5 on their debut, raising their market value to $464 million, significantly eclipsing their IPO target of $250 million.
Though MobiKwik faces fierce competition, especially from larger rivals, it boasts a user base of 161 million, indicating strong market presence and potential.
With the proceeds from the IPO, MobiKwik plans to enhance its expansion efforts and invest in artificial intelligence to further innovate its services.
The company, founded 15 years ago, has created one of India's most popular digital wallet platforms, yet struggles after UPI's widespread adoption.
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