MobiKwik's [ONEM.NS] 5.72 billion-rupee ($67.4 million) IPO was snapped up in under an hour on Wednesday as retail investors flooded in, betting on the Indian fintech firm's long-term prospects in a booming online payments market and short-term gains once the stock lists.

MobiKwik’s IPO continued to see robust demand from investors, with the issue getting oversubscribed 35.59 times on the final day of bidding.

MobiKwik's IPO, seeking to raise Rs 572 crore, saw enthusiastic subscription, exceeding 20 times overall. Retail investors showed particularly strong interest, subscribing 64 times. The proceeds will fuel growth in financial services and AI.

PM on the third day of bidding, the MobiKwik IPO had received bids for 50 crore shares shares, surpassing the 1.18 crore shares on offer, according to NSE data.

The price band of Mobikwik IPO was fixed at Rs 265 to Rs 279 per share. The minimum lot size for an application is 53 shares.

The Mobikwik Systems Limited IPO garnered strong demand on the first day of the bidding process; Should you buy on Day 2?

As per BSE data available on Thursday, MobiKwik saw the highest bidding out of the three mentioned public offers as the issue was booked 20.41 times.