MobiKwik Surges 82% in 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