After a successful initial public offering, Indian fintech company Mobikwik has announced the allotment status of its shares to investors. The allotment status revealed that the shares are being traded at a premium of Rs 166 in the grey market, indicating a potential 59% premium for the company's shares when they are listed on the stock exchange in three days. Shareholders can check the allotment status on the NSE and registrar's websites to get the latest information about their investment. As demonstrated by the media reports, this is a significant milestone for Mobikwik, and all eyes will be on the stock exchange as investors eagerly await the listing of the company's shares.
The food and grocery delivery company Swiggy Ltd is set to debut on the stock exchanges with an initial public offering of Rs 11,300 crore, making it the second-largest issue in the primary markets this year. Analysts are predicting that Swiggy's shares may see a flat or negative listing, and are advising investors who have not been allotted shares to wait for the share price to settle before buying. Despite being a major player in the e-commerce and food delivery market, Swiggy's IPO received a sluggish response, with concerns over its negative cash flow business model and high competition leading to lackluster interest from non-institutional investors and retail investors.