MobiKwik’s $67 million India IPO fully sold in first hour as retail investors rush in
(Reuters) -Indian digital payments firm MobiKwik’s [ONEM.NS] 5.72 billion-rupee ($67.4 million) initial public offering (IPO) was fully subscribed within the first hour of sale on Wednesday, as investors bet on strong growth prospects in India’s booming online payments market.
Retail investors placed bids for nearly five times the shares reserved for them, while the portion for non-institutional investors was fully sold, exchange data showed.
