Fintech stocks Paytm, MobiKwik, and Pine Labs rose up to 4% on June 15, 2026, after Razorpay filed a confidential DRHP with SEBI on June 12 for a Rs 5,700 crore IPO. Ankit Jaiswal and Kunal Singla at Univest analyse the IPO rub-off effect and key risks for listed fintech stocks.