New Delhi, Dec 18 (PTI) Shares of fintech firm One Mobikwik Systems Ltd on Wednesday listed with a huge premium of over 58 per cent against the issue price of Rs 279.

The stock began the trade at Rs 442.25, reflecting a jump of 58.51 per cent from the issue price on the BSE. Later, it zoomed 87.81 per cent to Rs 524.

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At the NSE, shares of the firm listed at Rs 440, surging 57.70 per cent.

The company's market valuation stood at Rs 3,435.68 crore.

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The initial public offer of One MobiKwik Systems Ltd received a staggering 119.38 times subscription on Friday, amid an overwhelming participation from investors.

The Rs 572-crore initial share sale had a price band of Rs 265-279 per share.

The public issue had a fresh issuance of equity shares worth up to Rs 572 crore with no Offer-for-Sale (OFS) component.

This was the second attempt by the Gurugram-based firm for the public issue following its first attempt in July 2021.

Founded by Bipin Preet Singh and Upasana Taku, MobiKwik -- the company's flagship application -- provides consumers access to various payment options and financial products in digital credit, investments and insurance.

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