The stock market debut of One Mobikwik Systems Limited (Mobikwik) has turned heads with its stellar performance. Listed on December 18, 2024, the company made an entry with a 58% premium, signaling robust investor confidence. Since its listing, the stock has shown a consistent upward trajectory, with its price closing at ₹622.95 on the NSE last Friday.
Mobikwik’s IPO: A Remarkable Journey
Mobikwik’s IPO was open for subscription from December 11 to December 13, 2024, with a price band of ₹265-₹279 per share. The listing price on the BSE stood at ₹442.25 per share and ₹440 on the NSE, offering immediate gains to investors. Within just seven days, early IPO investors enjoyed a staggering 120% return.
Current Market Sentiment: A Golden Opportunity?
As Mobikwik’s stock gains momentum, market enthusiasts are pondering whether now is the right time to buy. Expert analysis sheds light on the company’s strong fundamentals and potential for further growth.
Expert Insights
- Abhishek Pandya, Stocksbox Brokerage:
- Mobikwik ranks as the third-largest wallet-registered platform in India.
- As of FY24, the platform boasted 135.41 million users, marking its strong user base.
- After reporting losses in previous years, the company turned profitable in FY24. The EBITDA margin improved from a negative 21.24% to a positive 4.18%. This reflects Mobikwik’s ability to thrive in a competitive fintech market.
- Anshul Jain, Lakshmishree Investment and Services:
- The stock’s chart pattern indicates a positive outlook.
- Mobikwik has built a strong base at ₹590 and is expected to touch ₹700 soon, driven by bullish investor sentiment.
- Mahesh M. Ojha, Hensex Securities:
- A target price of ₹700 has been set with a recommended stop loss at ₹590, highlighting a favorable risk-reward ratio for investors.
Key Financial Highlights
Mobikwik’s financial turnaround has added to its attractiveness:
- Positive EBITDA and PAT (Profit After Tax) levels in FY24.
- Strong growth in its user base and adoption of digital payments.
Mobikwik Dominance in Fintech
Mobikwik’s standing as one of India’s leading digital payment platforms underscores its resilience and adaptability in a challenging sector. Its ability to turn profitable amidst intense competition reflects strong management and strategic planning.
Investor Takeaway
With its IPO debut marking a turning point and experts forecasting further gains, Mobikwik is a stock that’s garnering significant attention in the fintech space. Whether you’re a seasoned investor or a newcomer, this stock’s performance and market sentiment make it one to watch closely.
