MobiKwik’s shares jump 85% on trading debut, valued at Rs 40 billion

MobiKwik’s shares surged 85% on their debut, valuing the company around Rs 40 billion. The successful $67 million IPO, oversubscribed by 120 times, highlights the booming fintech sector in India. This contrasts with the broader market’s decline, with Sensex and Nifty dipping amid foreign fund outflows and pre-Fed decision caution.